The Commonwealth Bank has pleaded guilty to 87 criminal charges of"hawking" life insurance through unsolicited phone calls.CommInsure will have to repay 30,000 customers a total of $12 million over the criminal marketing of its life insurance policies
ASIC alleged CommInsure failed to give customers all the required information while cold-calling them with its sales pitch in 2014The Australian Securities and Investments Commission alleged that between October and December 2014, CBA's CommInsure business enlisted the telemarketing firm Aegon Insights, to sell its Simple Life policies over the phone.
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