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QBE Insurance (International), a unit of Australia’s biggest insurer, has settled its battle with former executive Craig Anderson over a $1.5 million liability the firm feared would arise from underwriting business to the failed Herbert Insurance Group. The Employment Court has signed off on a confidential settlement “which disposes of all the issues in these proceedings” and sealed the file, …

New Zealand banks face what’s expected to be the biggest class suit the country’s seen over $1 billion in default fees claimed by lenders over the past six years. Three of Australasia’s biggest law firms will announce the class suit to reclaim the fees, according to a statement. The fees are charged when customers overdraw their accounts, pay credit card …