Commonwealth Bank and the Commonwealth Bank of Australia's are to internally review their life insurance units in the wake of Commonwealth Bank life insurance scandal that has sent shockwaves through the industry. As we noted 2010 , the Australian Securities and Investments Commission (ASIC) has begun a full-blown investigation into "very troubling and shocking stories" regarding denied claims and out-of-date policy definitions of the insurance arm of CommInsure , CommInsure .
ANZ and National Australia Bank are to internally review their life insurance units in the wake of the Commonwealth Bank of Australia's life insurance scandal that has sent shockwaves through the industry. As we noted last week, the Australian Securities and Investments Commission (ASIC) has begun a full-blown investigation into "very troubling and shocking stories" regarding denied claims and out-of-date policy definitions of the insurance arm of Commonwealth Bank, CommInsure.