Accountability 30 years on: Insurance Contracts Act Reform

Tarr, Julie-Anne (2015) Accountability 30 years on: Insurance Contracts Act Reform. Australian Business Law Review, 43, pp. 68-74.

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The Insurance Contracts Act 1984 (Cth) since inception has effected major reform to the law in this field. One of Australia’s most frequently cited pieces of legislation, it has had a major impact upon the law and practice of insurance. Given the importance of insurance to domestic and commercial activity and its pivotal position as a mechanism to manage exposure to risk, it is not surprising that this legislation has been the subject of extensive analysis in the courts and in legal literature. Furthermore the Act has, arising out of a 2009 review, been significantly amended by the Insurance Contracts Amendment Act 2013 (Cth). The principal amendments introduced are: two-fold: the Insurance Contracts Act 1984 (Cth) has been amended so that a failure to comply with the duty of good faith is now a breach of the Act; and disclosure and misrepresentation provisions under the Insurance Contracts Act 1984 (Cth) are amended and clarified.

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ID Code: 90004
Item Type: Journal Article
Refereed: Yes
Keywords: Insurance reform, Insurance Contracts Act, Insurance Contracts amendments, duty of good faith, disclosure misrepresentation, insurance reform
ISSN: 0310-1053
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BANKING FINANCE AND INVESTMENT (150200) > Insurance Studies (150204)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Copyright Owner: Law Book Co
Deposited On: 05 Nov 2015 04:25
Last Modified: 08 Jul 2016 03:36

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