Commonwealth Bank of Australia (CBA) last year faced a devastating expose of their financial planning business by Four Corners. Four Corners is the premier current affairs program of the ABC*. You can find that program here.
After the travesty detailed by Four Corners CBA promised to be the "ethical bank".
Today Four Corners was back with an expose as to how CBA has systematically denied insurance claims for trauma and other medical maladies. This was through their business arm called CommInsure.
You can find that program here.]
Amongst the allegations: medical files just disappear from their system.
I guess CommInsure is in the business of making things disappear. Here is a photo of their twitter account (https://twitter.com/CommInsure)
Yeah - the Twitter account disappeared too. Looks like another cover-up albeit badly executed.
Maybe the Twitter account was never there - but searching @CommInsure on Twitter gives a fairly consistent history of reluctance to pay claims. This is an extract from the timeline well before the Four Corners episode.
The whole stream is littered with claims complaints. If the senior brass did not know this is wilful ignorance.
PS. All this is indicative of a "make the numbers or else" management style. Head office claims ignorance of what happens in the periphery even though it is obvious to those that look.
Head office also claims their mortgage underwriting is good. I suspect someone should actually go take a look. (But that is a story for future blog posts and future episodes of Four Corners.)
*For non-Australians think of the ABC as the Australian version of the BBC. You will not be far wrong.
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