A REMINDER OF HOW CLIENTS CAN USE A VOLUNTARY INDUSTRY CODE AGAINST YOU IF YOU ARE NOT CAREFUL Current as at 11 May 2015 A recent decision in the case of National Australia Bank Ltd v Rice illustrates the way in which clients can use a voluntary industry code...
The Insurance Contracts Amendment Act 2013 made a number of significant changes to the Insurance Contracts Act, including the duty of disclosure requirements. The Government has finally released Insurance Contracts Act Regulation 2015 (No 1), providing the final...
Update on ASIC’s Review of No-Claim Discount Schemes for Motor Vehicle Insurance Executive Summary: On 26 February 2015 ASIC released a report on the operation of no-claim discount (NCD) schemes on motor vehicle insurance policies (also called ‘no-claim...
Recent Decision on Duty of Utmost Good Faith in the Case of Fogarty v CGU Insurance Ltd 1. Case Name Fogarty v CGU Insurance Ltd [2015] ACTSC 44, see http://www.courts.act.gov.au/supreme/judgment/view/8692/title/fogarty-v-cgu-insurance-ltd for more details. 2. ...
Background In December 2013 the Government and appointed an independent Committee to examine how the financial system could be positioned to best meet Australia’s evolving needs and support Australia’s economic growth (see terms of reference)....
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