Statewide, a high-performing industry Superannuation fund, has received $4 million in combined penalties after providing misleading information to their members. Over 14,000 annual statements were sent to 7000 members whose insurance cover had already lapsed. Many members were affected by this conduct that led them to believe they were covered by insurance, when in fact their accounts were no longer active. Another contributing factor to the hefty penalty was due to Statewide