News & Blog

Stay up-to-date with interesting perspectives from the team at McCabe Curwood.

Published by Mathew Kaley
Jul 30, 2019 in Corporate Advisory

Unfair contract terms are coming to insurance

Treasury released an exposure draft Bill1 on 30 July 2019 to extend unfair contract terms to insurance contracts. Consistent with the Hayne Royal Commission recommendation, the Bill applies a broad scope to the test, and it has been fit within the terms of the existing ASIC Act provisions with very little tailoring. So, what is the test?The legislation will make the term of an insurance contract unfair if:it forms part of a standard form...

Get In Touch

The best relationships start with good conversation.
We are always ready to give advice, so contact us today.