Hundreds of thousands of Australians who were charged "excessive insurance premiums" may be eligible to make a claim for compensation as part of three class actions against some of the country's most popular insurers.
Mr Allsop said the case against AMP and the Commonwealth Bank would be that they gave financial advisers product lists that were "stacked with in-house products". "These advisors were recommending their own policies on which they would get kick-backs, instead of giving clients genuine objective advice," he said.
Former BT customer Sophie Ruse said she did not initially notice the "high fees" being deducted from her superannuation account after opening a new account.
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