Commonwealth Bank says it is changing how claims are judged after the government asked the corporate watchdog to investigate allegations of unethical behaviour at its life assurance business.
CBA said on Thursday that CommInsure had brought forward changes to heart attack and severe rheumatoid arthritis definitions, and would introduce a new panel to adjudicate on complex claims.
The move comes after a joint Four Corners-Fairfax investigation claimed CommInsure used unethical tactics to deny payouts for sick and dying policyholders.
"The concerns raised in the recent cases reported are not a reflection of the values of our people or our business," CommInsure chairman Geoff Austin said.
CBA said it was investigating the issues presented by the media, but denied it had not responded when concerns were raised.
Share
