Options Paper: Unfair Terms in Insurance Contracts

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Abstract:

On 17 March 2010, the Hon Chris Bowen MP, released a consultative paper on options for dealing with unfair terms in insurance contracts.

The purpose of the paper is to gather information about the feasibility, costs and benefits of various options that have been identified to deal with the possibility of harsh or unfair terms in insurance contracts causing consumers to suffer loss or damage. The results of the consultation will be used to inform the Government’s consideration of the options.

Making a submission

Interested parties are invited to comment on the paper. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Friday, 30 April 2010

Address written submissions to:
Unfair terms in insurance contracts: Options Paper
Corporations and Financial Services Division
The Treasury
Langton Crescent
PARKES ACT 2600

Fax: 02 6263 2770

Email: ICAReview@treasury.gov.au.

For enquiries, please call (02) 6263 3979.

Documents Available:

 Acrobat (PDF)

 Microsoft Word (RTF)

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