‘Legacy IT’ factors into MLC Life Insurance’s $10 million fine – Finance – Software – money.andronezia.com
The legacy IT system was a contributor to MLC Life Insurance that did not pay rehabilitation benefits to 119 customers who made claims under their policies. The insurer was fined $10 million by the Federal Court over the weekend under proceedings filed by the Australian Securities and Investments Commission (ASIC). ASIC said in a statement… Read More »