If I was to rob a bank, I would go to prison. Until some of these germs actually see the inside of bars for stealing from their customers, then justice has not been done.

I believe AMP just opened new accounts in the client names and did not actually pay the amounts to the individuals concerned !!  AMP is now putting that money into new accounts and charging new fees.

see here

 https://www.abc.net.au/news/2020-01-21/amp-fees-for-no-service-scandal-cash-repaid-in-new-accounts/11883032

AMP has been forced to refund hundreds of millions of dollars in fees and charges it took from clients following scandalous revelations at the royal commission.  Late last year, AMP started to contact former clients to alert them AMP owed them the money it took in fees while providing no service.  However, instead of asking customers where they would like the money sent, AMP opened a new super account in their name.

and here

https://www.theaustralian.com.au/business/financial-services/amp-sweetens-remuneration-deal-for-ceo-francesco-de-ferrari/news-story/a81ff4a5727e702f8130b7d6bf967142?utm_source=The%20Australian&utm_medium=email&utm_campaign=editorial&utm_content=BusinessReviewPM&utm_source=Email&utm_medium=&utm_campaign=&utm_content=

What always amazes me about these institutions, who issue credit cards, is that if you buy something, the cost immediately appears against your online account.

But, if you transfer funds from one account to another it takes days for it to go through.

You can transfer money on a Friday & you are lucky to see it appear by Tuesday the following week.

It's extraordinary how quickly they can process transactions that are in their favour but are unable to offer you the same privledge when it comes to payments that will reduce your liability to them.

I wrote my car off and the Insurance Co., Apia, paid out the insured value of the car less the excess and less the remaining period of insurance. In this case it was almost $1000, being 11 months premiums. I paid by the month. It would seem that this is common practice amongst insurance companies.

I believe the policy should have ceased at the time of the write off. I believe also that I am being charged for a service that can no longer be provided. 

I am sure that if the 12 month premiums had been paid in full and I cancelled the policy at any time during the term, for whatever reason, I would have received a refund of the balance. 

In their letter advising the disbursement of funds they state "....your claim will be settled on a total loss basis and your policy cover has now come to an end.'

Am I wrong? Are they charging for a service they can no longer provide and should I pursue it furher?

Any help would be really appreciated

I wrote my car off and the Insurance Co., Apia, paid out the insured value of the car less the excess and less the remaining period of insurance. In this case it was almost $1000, being 11 months premiums. I paid by the month. It would seem that this is common practice amongst insurance companies.

I believe the policy should have ceased at the time of the write off. I believe also that I am being charged for a service that can no longer be provided. 

I am sure that if the 12 month premiums had been paid in full and I cancelled the policy at any time during the term, for whatever reason, I would have received a refund of the balance. 

In their letter advising the disbursement of funds they state "....your claim will be settled on a total loss basis and your policy cover has now come to an end.'

Am I wrong? Are they charging for a service they can no longer provide and should I pursue it furher?

Any help would be really appreciated