Overview
Litigation Lending is funding a class action against Toyota Finance Australia and Aioi Nissay Dowa Insurance Company Australia (‘ADICA’), being run by Echo Law, on behalf of customers who were sold add-on insurance at the time they purchased a vehicle or entered into a car loan with Toyota Finance.
Investigations into the Add-on Insurance products sold suggests policies of this nature provided very little or no value to customers.
The class action alleges that by selling the Add-on Insurance products, the defendants engaged in conduct which was misleading or deceptive, unfair, unconscionable and involved inappropriate personal advice.
The class action seeks to recover compensation for persons who purchased one or more of the following Toyota (or Lexus or PowerTorque) Add-on Insurance products between 1 January 2010 and 5 October 2021 at the time they entered a car loan from a dealership:
1. Payment Protection or Finance Protection Insurance;
2. Finance Gap Insurance; and/or
3. Factory Approved Extended Warranty Insurance or Extended Warranty Insurance.
Customers of that kind can learn more about the class action and register their interest in being updated as it proceeds on the following link:
This class action is being case managed together with the Flex Commissions class action described here.
