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 …

Prime Minister John Key has welcomed the Chilean Government’s move to extend its “Penguins Without Borders” scheme, which sees high-achieving Chilean students travelling to New Zealand for six-monthly study visits.  “Penguins Without Borders enables some of Chile’s most ambitious and brightest high school students to experience the best our education system has to offer,” says Key. “Chile’s Economy Minister, Pablo Longueira, …