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BRIEF-Medibank Private Responds To ACCC Proceedings

Published 03/09/2019, 09:51 am
Updated 03/09/2019, 10:00 am
© Reuters.  BRIEF-Medibank Private Responds To ACCC Proceedings
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Sept 3 (Reuters) - Medibank Private Ltd MPL.AX :

* MEDIBANK AND AHM RESPONDS TO ACCC PROCEEDINGS

* A PROGRAM OF COMPENSATION WAS ESTABLISHED TO ENSURE AFFECTED CUSTOMERS WERE COMPENSATED

* ISSUE WAS IDENTIFIED AS A RESULT OF RECEIVING CUSTOMER COMPLAINTS, WHICH LED TO AN INTERNAL INVESTIGATION OF MATTER

* MEDIBANK HAS BEEN WORKING COOPERATIVELY WITH ACCC THROUGHOUT ITS INVESTIGATION

* AHM HAS PAID COMPENSATION TO AROUND 175 CUSTOMERS, TOTALLING AROUND $745,691

* ISSUE CAUSED BY AN INTERNAL PROCESS FAILURE, WHERE A NUMBER OF MBS ITEM CODES WERE NOT ENTRED ON SYSTEM FOR BOOST AND LITE PRODUCTS

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