Insurance Contracts Act 1984 (Cth) - Level 4

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The Insurance Contracts Act 1984 seeks to ensure that a fair balance is struck between the interests of insurers, insured parties 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. The University as an 'insured' party has a duty to disclose to the insurer, before the relevant contract of insurance is entered into, every matter that is known to the insured, being a matter that:
1. The insured knows to be a matter relevant to the decision of the insurer whether to accept the risk and on what terms; or 2. A reasonable person could be expected to know to be a relevant matter. The Act provides for remedies for non-disclosure and misrepresentation and allows for the application of the Criminal Code for offences under this Act.

Relevant Compliance Frameworks

Legislation, Standards and Codes may be linked to one or more of the University's compliance frameworks either as the driver of the requirements, or as a component of the framework.

The relevant frameworks are listed below.