Class Actions - Koala Claims

What is a Class Action?

A class action is a type of legal proceeding in which one person brings a claim on behalf of a wider group of people who have been affected by the same conduct. For example, they were all sold an ANZ CCI policy after 2010. They are usually brought about by larger law firms.

What are the downsides to class actions?

Opt-out model: In Australia, class actions work on an “opt-out model”. This means that you are automatically included in the class action and you have to opt-out. You may not even know you are in one and if you don’t opt-out in time you are bound by the outcome of the decision.
Reduced payouts: Once the lawyers’ fees and associated costs have been taken into account, you may only receive 51% of what you paid in premiums.
You don’t get an interest payment – You will only receive back a proportion of the premium you paid. When going through Koala Claims you will receive your premium + additional interest. This can add up to a significant amount!
They can take years to resolve – Some class actions can go on for years, Koala Claims can get your money back in a few months.
You may not get anything back – If you were included in the class action and the law firm doesn’t have your details to pay you, after a set time limit you are ineligible to receive anything.

Koala Claims charges just 30%+ GST of the total amount you are refunded, and we fight for you to receive interest on top.

Can I opt-out?

Yes, by completing an opt-out notice and submitting it to the relevant court, however, there are time limits in which you must do this, and it depends on each class action. You should have received a letter from the law firm leading the class action which provides details on how to opt out.

Related Class Actions

Click on the links below to find out more

Class Actions - Koala Claims

What is a Class Action?

What are the downsides to class actions?

Can I opt-out?

Related Class Actions

Slater & Gordon

Maurice Blackburn

Johnson Winter & Slattery