Online insurer changes advertising
Insure 247 has made changes to its online insurance websites after the Australian Securities and Investments Commission (ASIC) raised concerns that they contained misleading and deceptive advertising.
The websites, www.quotesonline.com.au, www.insure247.com.au, www.greatchoice.com.au and www.ezisure.com.au, gave the impression that consumers were accessing an online tool which compared the features and the cost of different insurance products.
According to ASIC, there was in fact no evaluation or comparison, with the Insure 247 displaying the logos of insurance providers that were not offering quotes for the product featured.
For some of the insurance products, only one insurance provider received consumer details through the website when consumers were likely to think their details would be passed on to many insurers.
Insure 247 has since changed the content of its websites to clearly state on the home page and every product page that it is not a market comparison service.
The logos have also been updated to make it clear to consumers that when seeking an insurance quote, only one quote may be provided for some products.
The regulator has previously warned operators of comparison websites about meeting their obligations under consumer protection laws.
"Operators of website must take time to ensure they accurately portray the features and limitations of the services they advertise," ASIC Deputy Chairman Peter Kell said.
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