Another day, another big insurer getting called out for screwing over everyday Aussies. Just saw ASIC is suing Budget Direct's underwriter for misleading conduct – tens of thousands of us lost promised online discounts (averaging ~$100 each, totaling millions) when we made basic policy changes like updating an address. They knew about it since 2016 but dragged their feet.
I was one of those customers who bailed on Budget Direct after a massive hike in my premiums – felt like a bait-and-switch that hit right when cost-of-living is already crushing people. These 'budget' brands promise savings then quietly jack up costs or yank discounts without clear warnings.
Good on ASIC for pursuing this – we need stronger crackdowns on misleading pricing and real penalties, not just 'remediation' after the fact. Corporate greed shouldn't come at the expense of working families. Who's switched insurers lately?
#CostOfLivingCrisis #ConsumerRights #ASIC
https://www.abc.net.au/news/2026-02-27/asic-sues-budget-direct-misconduct-allegations/106395196