“We have been working in full co-operation with ASIC and take this matter very seriously,” they said.

Unfair contract terms have been an area of focus for ASIC over the past year, with the regulator launching cases against Auto & General Insurance Company and HCF Life Insurance earlier this year over allegations of unfair terms in their policies.

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The nation’s consumer watchdog also has a close eye on representations made to consumers about digital services, with the Australian Competition and Consumer Commission (ACCC) confirming on Thursday it will launch Federal Court action against dating platform eHarmony over allegations of misleading statements.

The watchdog alleges a number of eHarmony’s representations about the pricing and duration of its memberships were misleading to its customers. This includes a claim that the company’s messaging may have given users the false impression that they were signing up to premium memberships for a finite time period, like six months, even though these subscriptions automatically renewed.