- Previous Citations
- Medical Indemnity (Prudential Supervision and Product Standards) Bill 2002
- Originating house
- House of Representatives
- Parliament no
- Introduced with the Medical Indemnity (Prudential Supervision and Product Standards) (Consequential Amendments) Bill 2002 and further to the package of bills implementing the framework for medical indemnity insurance, the bill provides for: medical indemnity cover only to be provided by general insurers and only under contracts of insurance, which will ensure that providers are subject to appropriate prudential supervision by the Australian Prudential Regulation Authority; transitional arrangements for current providers to meet minimum capital requirements; minimum product standards for medical indemnity insurance contracts; compulsory retroactive cover; and anti-avoidance provisions. Also contains a regulation-making power.