Comminsure Financial Scandal: Breach of Ethics and CSR Practices

Running head: MONEY MATTERS
Money Matters
Name of the Student
Name of the University
Author note:

1MONEY MATTERS
Table of Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................2
Discussion........................................................................................................................................2
i) Description of the CommInsure financial decisions and practices..........................................3
ii. Brief description of the coverage of CBA’s Corporate Responsibility Report (CRR)...........3
iii) Evaluation of Policies and Practices of Comminsure that are relative to the CSR report of
CBA.............................................................................................................................................4
iv) The importance of sustainability and socially responsible outcomes for CBA.....................5
v) Identification of the ethical principles that have breached by CommInsure in comparison to
the Code of Ethics of the CBA...................................................................................................6
Conclusion.......................................................................................................................................7
Reference List..................................................................................................................................7

2MONEY MATTERS
Executive Summary
The CBA that is known as the Commonwealth Bank of Australia has its insurance arm that is
known as the Comminsure. The Comminsure recently has been tangles up in various cases where
they have been accused to breaching the ethical conducts and CSR practices. The act includes
manipulation of the medical reports and compelling the doctors to represent the medical reposts
in such a way that would reject the insurance claims of the consumers. In the following report
would elaborate on the various heads that have been breached by the Comminsure that includes
Corporate Social Respobilities principles, Life Insurance Code of Practice of CBA,
Sustainability and social responsibility and transparency had been violated.
Introduction
The Comminsure that is the insurance hand of the Commonwealth Bank of Australia
recently has been tangles up in various cases where they have been accused to breaching the
ethical conducts and CSR practices. The act includes manipulation of the medical reports and
compelling the doctors to represent the medical reposts in such a way that would reject the
insurance claims of the consumers. The insurance hand CommInsure before the scandal was
known as for its reputation of offering life cover to more than 3 million members, with 1.8
billion dollars of in-force premiums around the USA. The incident has ruined the culture of the
Commonwealth Bank, who is going on rebuilding the reputation.
Discussion