Do we like them?

Do we like Medibank?

Private health insurer (Medibank and ahm brands) and health services provider, based in Melbourne, Australia.

Our score: 4 out of 10. Big, useful insurer, but the 2022 breach of 9.7 million people's data and the regulator's court case make us hesitate. We'd hold off until that case is settled.

Medibank is one of Australia's big private health insurers, listed on the ASX. David Koczkar has been CEO since 17 May 2021, taking over from Craig Drummond. Mike Wilkins is Chair, according to the 2026 annual report coverage.

The big drama is the October 2022 cyber attack. In June 2024 the privacy regulator, the OAIC, filed civil penalty proceedings in the Federal Court. It alleges Medibank seriously interfered with the privacy of about 9.7 million people between March 2021 and October 2022.

Each contravention can carry a penalty of up to $2.22 million, and the regulator alleges one per affected person. Medibank said it intends to defend the case. A customer class action is also running. The search results showed no final outcome.

That leaves us at a cautious 4. It's a major insurer that millions rely on, but a health fund holds very sensitive data. We'd want the court case settled before we backed them.