10 Jun 2010 Review of Section 54 of the Insurance Contracts Act 1984 (final report FAI General Insurance Company Ltd v Australian Hospital Care Pty Ltd arranges contracts of insurance in Australia or elsewhere, and includes an insurance broker. insured and insurer include a proposed insured and a proposed insurer, respectively. life insured includes a proposed life insured. policy document, in relation to a contract of insurance, means: arranges contracts of insurance in Australia or elsewhere, and includes an insurance broker. insured and insurer include a proposed insured and a proposed insurer, respectively. involved, in relation to a contravention, has the same meaning as in the Corporations Act 2001. life insured includes a proposed life insured. An Act to reform and modernise the law relating to certain contracts of insurance so that a fair balance is struck between the interests of insurers, insureds and other members of the public and so that the provisions included in such contracts, and the practices of insurers in relation to such contracts, operate fairly, and for related purposes. The Insurance Contracts Act 1984 (ICA) applies to most insurance contracts with an Australian connection and is intended to ensure that a fair balance is struck between the interests of the insurer and the insured. (4) A reference in this Act to a general insurer having no liabilities in respect of insurance business carried on by it in Australia includes a reference to a general insurer who has assigned, other than by an equitable assignment, all of its interests (including rights and benefits) under all contracts of insurance in respect of insurance business carried on by it in Australia to another general insurer.
23 Sep 2014 Section 54 of the Insurance Contracts Act remains a broad remedial provision on a technical breach of the policy or other act or omission after the policy was The High Court of Australia has handed down decisions in two
The Insurance Contracts Act 1984 (ICA) applies to most insurance contracts with an Australian connection and is intended to ensure that a fair balance is struck between the interests of the insurer and the insured. (4) A reference in this Act to a general insurer having no liabilities in respect of insurance business carried on by it in Australia includes a reference to a general insurer who has assigned, other than by an equitable assignment, all of its interests (including rights and benefits) under all contracts of insurance in respect of insurance business carried on by it in Australia to another general insurer. The evolution of the Insurance Contracts Act. Before the advent of the Insurance Contracts Act Australian insurance law was widely regarded as a clumsy amalgam. Aspects of imperial statute law, common law, state law and some federal laws all played a part in forming the inconsistent insurance law landscape. Contracts of general insurance--entitlements of third party beneficiaries 48AA. Life policy in connection with RSA for the benefit of third party beneficiary 48A. Life policy for the benefit of third party beneficiary 49. Where sum insured exceeds value of insured's interest 50. Sale of insured property 51. On 28 June 2013, Parliament passed the Insurance Contracts Amendment Act 2013. This Act substantively reproduced the amendments that were introduced to Parliament in 2010 but lapsed due to the government elections at the time. Division 2--General provisions relating to insurance contracts. 38 Interim contracts of insurance. 39 Instalment contracts of general insurance. 40 Certain contracts of liability insurance. 41 Contracts of liability insurance--consent of insurer required for settlement etc. of claim. 42 Maximum cover for premium. 43 Arbitration provisions. An Act relating to life insurance, and for related purposes. Part 1 — Preliminary 1 Short title This Act may be cited as the Life Insurance Act 1995. 2 Commencement (1) Subject to subsection (2), this Act commences on a day to be fixed by Proclamation.
Section 29 of the Insurance. Contracts Act 1984 : The new Australia. The law governing contracts of insurance has a direct influence on the effectiveness and
arranges contracts of insurance in Australia or elsewhere, and includes an insurance broker. insured and insurer include a proposed insured and a proposed insurer, respectively. life insured includes a proposed life insured. policy document, in relation to a contract of insurance, means: arranges contracts of insurance in Australia or elsewhere, and includes an insurance broker. insured and insurer include a proposed insured and a proposed insurer, respectively. involved, in relation to a contravention, has the same meaning as in the Corporations Act 2001. life insured includes a proposed life insured. An Act to reform and modernise the law relating to certain contracts of insurance so that a fair balance is struck between the interests of insurers, insureds and other members of the public and so that the provisions included in such contracts, and the practices of insurers in relation to such contracts, operate fairly, and for related purposes. The Insurance Contracts Act 1984 (ICA) applies to most insurance contracts with an Australian connection and is intended to ensure that a fair balance is struck between the interests of the insurer and the insured. (4) A reference in this Act to a general insurer having no liabilities in respect of insurance business carried on by it in Australia includes a reference to a general insurer who has assigned, other than by an equitable assignment, all of its interests (including rights and benefits) under all contracts of insurance in respect of insurance business carried on by it in Australia to another general insurer.
