UNDERTAKERS AND UNDERTAKING – AUSTRALIA

InvoCare and Propel set to win from Hayne royal commission

roymorgansocial Leave a comment

Original article by Simon Evans
The Australian Financial Review – Page: Online : 5-Oct-18

The Hayne royal commission has slammed the funeral insurance sector, and has urged the Australian Securities & Investments Commission to use new product intervention powers to close down "junk funeral insurance". Listed funeral companies InvoCare and Propel Funeral Partners, which offer only pre-paid funeral contracts, are likely to benefit from the commission’s attack on funeral insurance. InvoCare CEO Martin Earp says funeral insurance does not offer value for money, while Propel CEO Albin Kurti contends funeral insurance ends up costing consumers more when compared to pre-paid contracts.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, INVOCARE LIMITED – ASX IVC, PROPEL FUNERAL PARTNERS LIMITED – ASX PFP

InvoCare fined over ‘misled’ families

roymorgansocial Leave a comment

Original article by Beau Donelly
The Sydney Morning Herald – Page: 10 : 18-Nov-14

The Australian Competition & Consumer Commission has secured a court-enforceable undertaking as well as compensation payments for affected customers from InvoCare. The listed company owns the White Lady, Guardian Funerals and Le Pine funeral services chains, and had been accused of forcing clients to buy memorial plaques directly from InvoCare rather than being allowed to supply their own. In fact a relevant clause had only been added to the contracts after 2011. InvoCare conceded that it likely contravened Australian Consumer Law, and a penalty of $A102,000 has been imposed

CORPORATES
INVOCARE LIMITED – ASX IVC, WHITE LADY FUNERALS, LE PINE FUNERAL SERVICES, GUARDIAN FUNERALS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION