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Insurance
Contracts Amendment Bill 2013
Introduced into the House of
Representatives on 14 March 2013
Portfolio: Treasury
1.1
This bill seeks
to amend the Insurance Contracts Act 1984 with the purpose of
streamlining requirements and addressing anomalies in the regulatory framework
of insurance contracts. In particular, the key features of the bill are
measures to:
- Remove
impediments to the use of electronic communication for statutory notices and
documents;
- make the duty of
disclosure easier for consumers to understand and comply with, especially at
renewal of household/domestic insurance contracts;
- make the
remedies in respect of life insurance contracts more flexible;
- clarify the rights
and obligations of persons named in contracts as having the benefit of cover,
but who are not parties themselves; and
- clarify what
types of contracts are exempt from its operation
1.2
This bill
follows on from a review of the Insurance Contracts Act 1984 that was
released in 2004[1]
which recommended some changes to the operation of the Act, extensive
consultation with industry and consumer groups and the introduction of the
Insurance Contracts Amendment Bill 2010 which lapsed due to the calling of the
2010 federal election.
Compatibility with human
rights
1.3
The bill is
accompanied by a self-contained statement of compatibility that states that the
bill 'does not engage any of the applicable rights or freedoms' and is
therefore compatible with human rights.
1.4
The bill, in
setting out requirements relating to the disclosure of certain matters to
insurance companies, may engage the right to privacy under article 17 of the
International Covenant on Civil and Political Rights (ICCPR). Article 17 of the
ICCPR provides that no one 'shall be subjected to arbitrary or unlawful
interference with his privacy, family, home or correspondence'.
1.5
As this bill
regulates the disclosure, or non-disclosure, of information made under private
contracts to which people voluntarily enter into and accept the terms and
conditions on entering into the contract, it does not appear that the disclosure
requirements would arbitrarily interfere with the right to privacy.
1.6
The
committee considers that the bill does not give rise to issues of incompatibility
with human rights.
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