The Federal Court has upheld the Australian Securities and Investments Commission’s case that Choosi Pty Ltd misled consumers by creating the impression that its funeral and life insurance comparison service assessed products from a meaningful range of insurers. In practice, the products compared were overwhelmingly issued by a single insurer and all were distributed by Greenstone Financial Services Pty Ltd, a company associated with Choosi. From July 1, 2019, Choosi compared funeral insurance policies issued only by Hannover Life Re of Australasia Ltd. Its life insurance service compared Hannover policies and one Swiss Re Life & Health Australia policy until June 30, 2023, after which all compared life policies were issued by Hannover. ASIC alleged that 4,225 Hannover funeral insurance policies and 9,478 Hannover life insurance policies were sold through the service between July 1, 2019, and Nov. 30, 2024. The matter will return to the Court on a date to be determined for submissions on penalties and other relief sought by ASIC.
2026-09-08Australian Securities & Investments Commission
Australian Securities and Investments Commission secures Federal Court finding that Choosi misled consumers over insurance comparisons
The Federal Court found that Choosi misled consumers by presenting its funeral and life insurance service as comparing products from a range of insurers when the products were overwhelmingly issued by one insurer. All compared policies were distributed by a company associated with Choosi. The Court will consider penalties and other relief at a later date.