Removal of claims handling exemption On 1 March 2019, the Government released a consultation paper: Insurance Claims Handling. This paper looks at the removal of the exemption for insurance claims handling from the definition of ‘financial service’ under the Corporations Read More …
Tag: claim
4.8 — Removal of claims handling exemption
The handling and settlement of insurance claims, or potential insurance claims, should no longer be excluded from the definition of ‘financial service’. Government Response The Government agrees to remove the exemption for the handling and settlement of insurance claims from Read More …
4.5 — Duty to take reasonable care not to make a misrepresentation to an insurer
Part IV of the Insurance Contracts Act should be amended, for consumer insurance contracts, to replace the duty of disclosure with a duty to take reasonable care not to make a misrepresentation to an insurer (and to make any necessary Read More …
Claims handling
Recommendation 4.8 – Removal of claims handling exemption The handling and settlement of insurance claims, or potential insurance claims, should no longer be excluded from the definition of ‘financial service’.
Submission themes
The following summaries provide further analysis of the key themes or conduct that was raised in public submissions received by the Commission. Figure 15: Insurance submissions: Key themes Claims handling The Commission received over 430 submissions that primarily focused on Read More …
11.3 What the case study showed
11.3.1 Misconduct AAI accepted that it had contravened the General Insurance Code of Practice in four ways in the course of its dealings with the Healds. First, AAI accepted that it had breached clause 7.2, which required it to conduct Read More …
11.2 Evidence
The Healds held a home and contents policy with AAI.[1] The policy was branded as a Suncorp product.[2] On 22 April 2015, they lodged a claim with AAI for damage to their property caused by a major storm in the Read More …
11.1 Background
This case study concerned the handling by AAI of an insurance claim arising out of storm damage. The Commission heard evidence from Ms Bernadette Heald and again from Mr Gary Dransfield, the Chief Executive Officer of Insurance at the AAI Read More …
10.2 Evidence
AAI issues 37 home and contents insurance products through 13 different brands, including AAMI.[1] Generally speaking, AAI’s home and contents policies are ‘sum insured’ policies, which require the policyholder to nominate the amount for which their home and contents will Read More …
10.1 Background
AAI Limited (AAI) carries out the general insurance activities of Suncorp Group.[1] The case study focused upon AAI’s handling of claims made following the Wye River bushfires on Christmas Day 2015, and the way in which AAI marketed its Complete Read More …