'We're aware of the seriousness of the conviction and we apologise to all customers affected by this case,' a spokesperson said in a statement. It was fined $700,000 for its crimes today.ĬommBank told ACA it's committed to comprehensively addressing past failings and providing compensation where we got it wrong.

She's since cancelled her parents' CommInsure policy and moved them to Suncorp, where they now pay around $600 annually for building and contents insurance.ĬommInsure has recently been in the headlines after pleading guilty to 87 counts of criminal charges of illegally selling insurance products over the phone. (A Current Affair)ĬommInsure eventually repaid the couple their latest $2560.58 premium, but Michelle says it's too little too late. Allan's wife Val is living with dementia. The Bad Boys Series by Michelle Leighton The Bad Boys Series 5 primary works 9 total works Book 1 Down to You by Michelle Leighton 4. 'How can they do that? They don't even own a computer, they don't even know how to use a computer!' she said. When Michelle called CommInsure to complain, she says they blamed her elderly parents for not comparing their premium with other providers to find a better deal. 'I thought they were fair dinkum and they weren't. 'I looked for reasons for it to be that price, instead of why it shouldn't have been that price,' he told ACA. Commonwealth Bank said it was committed to addressing past failings. 'They're age pensioners! They're living off a pension, they don't have anything else,' Michelle said.Īllan admits he trusted CommInsure, because he'd been with CommBank for decades. The inflated value meant Allan and Val had been paying an annual premium of more than $2500.

The home and the surrounding five-acre property later sold for $380,000 - almost $100,000 less than what the building alone had been insured for. My parents didn't even own a smart phone or a computer,' she said. Then I saw the contents underneath that and it was valued at $118,697. 'I was shocked, I may have let out a few expletives. When Michelle was going over her parents' finances, she realised her parents' house had been valued at $474,790.

Wiccan by Michelle Leighton