An insurance company owned by multinational insurance giant Insurance Group Australia will refund $39 million to customers over worthless add-on insurance sold to car owners.

More than 67,000 customers who purchased six different add-on insurance products through Swann Insurance will get their money back.

It is the latest company to be targeted after the Australian Securities and Investments Commission (ASIC) reviewed the sale of add-on insurance by car dealerships.

The SLC4A1 gene provides instructions for making a protein known as anion exchanger 1 (AE1). This protein transports negatively charged atoms (anions) across cell membranes. Specifically, AE1 exchanges negatively charged atoms of chlorine (chloride ions) for negatively charged bicarbonate molecules (bicarbonate ions). Based on this function, AE1 is known as a chloride/bicarbonate exchanger (Cl - /HCO 3 - exchanger). The main function of this exchanger is to maintain the correct acid levels (pH) in the body.

There are two versions of the AE1 protein that differ in size. The shorter version is found in specialized kidney cells, called alpha-intercalated cells, that line structures in the kidney called renal tubules. The renal tubules reabsorb substances that are needed and eliminate unneeded substances in urine. Specifically, alpha-intercalated cells release acid into the urine to be removed from the body. In alpha-intercalated cells, the exchange of bicarbonate through the AE1 protein allows acid to be released from the cell into the urine.

The longer version of AE1 is found in red blood cells. In addition to exchanging ions, the longer AE1 protein attaches to other proteins that make up the structural framework (the cytoskeleton) of red blood cells, helping to maintain their structure. In red blood cells, the AE1 protein can interact with another protein called glycophorin A, which helps ensure AE1 gets moved (trafficked) to the correct location of the cell. Glycophorin A is not found in kidney cells.

An insurance company owned by multinational insurance giant Insurance Group Australia will refund $39 million to customers over worthless add-on insurance sold to car owners.

More than 67,000 customers who purchased six different add-on insurance products through Swann Insurance will get their money back.

It is the latest company to be targeted after the Australian Securities and Investments Commission (ASIC) reviewed the sale of add-on insurance by car dealerships.

Swann / Swan DNA Project - News | Family Tree DNA


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Posted by 2018 article

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