Why the Suncorp (ASX:SUN) share price is on watch
Ken Hall | April 16, 2021 9:08am |
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Suncorp Group Ltd (ASX: SUN) share price is one to watch today after a litigation update from the Aussie insurer.
Why is the Suncorp share price in focus?
A Suncorp subsidiary is facing Victorian Supreme Court proceedings related to the sale of add-on insurance products. That subsidiary, AAI Limited, has received a representative proceeding for the sale of add-on insurance through MTA Insurance.
The proceedings were lodged by Maurice Blackburn and are targeting add-on car insurance sold by MTA.
Suncorp said that it is currently reviewing the matter and it intends to defend the class action. The Suncorp share price will be one to watch following the latest update.
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