SWANN Insurance class action
What was the swann insurance class action?
Mr Jones Asirifi-Otchere and law firm Johnson, Winter & Slattery filed a class action against Swann Insurance and parent company Insurance Australia Limited.
The class action was settled in December 2020 for $138 million.
Swann Insurance issued “add-on” insurance products that were sold with cars and motorbikes in dealerships between 1 January 2008 and 1 August 2017.
If you’re part of the class action, you should have received a payment already. Group Members received a Settlement Notice on or around 19 February 2021. The Settlement Administrators processed payments to registered Group Members on 27 August 2021.
For further information, including any possible entitlements you must contact Johnson Winter & Slattery.
Does that mean i've missed out?
Not necessarily. The Swann Insurance class action was limited to certain products and certain dates.
Class actions in Australia use an ‘opt-out’ model, which means you might have automatically been joined up to this class action if you had the policies named above on the dates listed.
If so, you should have received an ‘Opt Out and Commencement Notice’ informing you that you were part of the class action.
Were you part of the class action and decided to remain?
If so, you CANNOT make another claim for a refund on the same insurance policy.
Were you part of the class action and decided to opt out?
If so, you CAN maybe still make a claim for a refund and Remediator can help you to do so.
Were you never part of the class action?
If so, you CAN also still make a claim for a refund and Remediator can help you to do so.
Get your FREE eligibility check here if you haven't already done so, or call us on 1800 984 707
Are class actions the best way to maximise your refund?
Not always. As these former customers’ experiences seem to show, some get only cents in the dollar back from class actions.
What should I do if i'm a current or former swann insurance customer?
If you weren’t part of the class action and you still want a refund on Junk Insurance premiums you might have paid, you’ve got two options:
1. Contact the lender yourself and ask them for copies of your old statements, or
2. Ask a service such as Remediator to try and get you a refund.
how to maximise your refund:
diy vs remediation services
The most important thing is that you do something to get your money back - whether you take on the bank yourself, or ask a remediation service to help.
But here’s what you need to know to decide which way to go about it.
If you decide to do it yourself, you’ll need to comb over your old statements for evidence of insurance premiums being deducted.
You can request these statements by contacting your motor vehicle finance provider.
The insurance products had names such as:
Guaranteed Asset Protection (GAP) Insurance
Tyre & Rim Insurance
Consumer Credit Insurance
Some of us will feel confident to DIY. But DIY can also be time consuming and difficult, so if you want some more firepower in your corner, consider asking the experts to take up your fight for you.
We believe services such as Remediator are the ideal compromise for anyone who wants to maximise their refund without doing all the work themselves.
With services such as Remediator, you know what percentage of the refund you’re getting back and you can be confident we will try to maximise your refund and minimise the waiting time. .
Some remediation services charge 30% of your refund for the work they do. Remediator only charges 20% while doing all the legwork for you, from contacting your bank to combing through your old statements to chasing up your refund and fighting your corner if the going gets tough.
But the proof is in the pudding: decide for yourself!
Average Remediator refund so far: $2,179
Average time from eligibility check to refund: 38 days
This article does not provide legal or financial advice. Any information in this article is designed to provide information to consumers who want to learn more about class actions and other ways to seek refunds. All information is general in nature.
ClaimFast Pty Ltd trading as Remediator is not liable for any loss caused, whether due to negligence or otherwise arising from use of, or reliance on, the information provided directly or indirectly, by use of this service. Consider whether the service is right for you. If you are unsure how to proceed, you should seek independent legal advice.