A class action was commenced in the Federal Court of Australia by Mr Jones Asirifi-Otchere against Swann Insurance (Aust) Pty Ltd (ACN 000 886 680) and Insurance Australia Limited (ACN 000 016 722).
The action arises out of the sale of particular “add-on” insurance products issued by Swann which were presented and sold in motor vehicle dealerships to persons (including businesses) who purchased motor vehicles and motor cycles between 1 January 2008 and 1 August 2017 inclusive.
Mr Asirifi-Otchere commenced the Swann Class Action on his own behalf and on behalf of all people and businesses who are “group members”.
The Swann Insurance Class Action has settled for an amount of $138 million.
The Settlement Distribution Scheme is published on this website. This document sets out the formula to be used to calculate amounts payable to Group Members. This document can be viewed here.
Persons identified as Group Members received a Settlement Notice on or around 19 February 2021. You may have also heard about Swann Insurance Class Action from newspapers or advertisements.
The Settlement Administrators have processed EFT payments to registered Group Members on 27 August 2021.
Payment should appear in your nominated bank account in 2-3 business days after the payment date. The Settlement Administrators will be monitoring any failed payments and will contact affected Group Members.
View our for further information.
For more information please access the FAQs here.
The opt out period closed on 15 November 2019, however orders were made by Justice Gleeson on 24 July 2020 validating opt out notices lodged after 15 November 2019 to the date of the order.
Further orders were made on 1 September 2020 validating opt out notices lodged after 24 July 2020 and on or before 2 September 2020.
The time to opt out of the class action has passed.
The relevant Court documents in this case may be accessed through the "Court Documents" page. Please click here to access.
Updates in this case
17 December 2020: The Federal Court approved the Swann Insurance Class Action settlement. To view the Court Order dated 17 December 2020, please click HERE.
On or around 15 February 2021: The registration to participate in the settlement distribution opened.
Registrations closed at 5 PM AEST on 4 June 2021.
The Settlement Administrators processed EFT Payments to registered Group Members on 27 August 2021.
If your contact or bank details change after you successfully register, please click here to update your details.