An Australian funeral insurance company was fined $3.5 million dollars but does not have to pay the fine.

I can't say how corporations are run in Australia. Yet I must mention that in the USA corporations are treated as individuals under the 14th amendment.

What this does is free up any board members, executives as well as a corporations president from the corporation's responsibilities.

They actually are not responsible for their actions and why Trump was not responsible for the SIX bankruptcies be filed on behalf of his own corporations.

I suspect it might be similar in Australia, yet I'm uncertain how that might be implemented.

This is a effect of capitalism on modern society all over the world. Even in China individuals in corporations are not responsible for the corporations actions.

Of course corporations in China are run by the government. So the government is not responsible either.

It is disgusting that this can happen.. But a warning to anyone paying for funeral insurance.. The nature of insurance is that the premiums paid should always be more than the payout. So simply taking the few $ a week and putting it in a jar should be a better bet for most people than paying a premium. Its not like house or car insurance. Or even life insurance to cover the cost of the family carrying on.. This is a relatively small expense that a little forward planning should manage..😷

And seize their assets due to fraud.