Early next year the High Court will hear the three-year-old court battle between AMP and CGU over a $6 million insurance claim.

CGU believes it shouldn’t have to cover payments AMP made to its investors who lost money after getting advice from two of its former agents trading as Macquarie Advisory Group. AMP had professional indemnity cover with CGU.

AMP has reportedly settled with 47 of its investors over the issue, and paid them $3.2 million, but it has another $3 million in claims. It wants CGU to reimburse it for the payouts plus interest and legal costs.

It’s not the first time that services offered by AMP financial planners have come under the spotlight. Earlier this year the Australian Securities and Investments Commission ordered the company to review superannuation advice given to 7000 of its clients.