On 12 October 2017, Shine Lawyers commenced a class action on behalf of people who purchased life insurance issued by Westpac Life (including to superannuation funds) on the recommendation of financial advisers at Westpac, St George Bank, Bank of Melbourne, BankSA or BT Advice.
In March 2021 Shine Lawyers settled the Westpac Life Insurance Class Action, enabling compensation to be paid to thousands of Westpac customers who incurred financial loss.
In August 2021, The Federal Court of Australia approved the settlement and distribution scheme, which determined how compensation is distributed amongst members of this class action. The settlement administration of this class action and the class action has now concluded.
