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Financial Services Bulletin - August 2017

This edition of the FSB is packed with a swag of recent cases, our selection of recent FOS and SCT determinations and the answer to a client's question about the Life Insurance Code of Practice in our topical 'Turks Q&A' which we hope you will find useful and interesting.

In 'What's Happening Here and Now', we are delighted to tell you about recent promotions in our Financial Services team. You can also arrange to have some quality 'face time' with our experts at our next 'Life Matters' seminars in Sydney, Melbourne and Brisbane the dates for which have just been announced! To register for Melbourne and Brisbane, please click here. Please note, the Sydney seminar has reached capacity.

Last but not least, the 2017 ALUCA TurksLegal Scholarship is open and ALUCA members are encouraged to enter for a chance to win an overseas conference package valued at up to AU$8,000! Applications close on Sunday, 10 September so make sure you head over to our website for all of the details.

We hope you enjoy this edition of the FSB!


2017 ALUCA TurksLegal Scholarship is open
The 2017 ALUCA TurksLegal Scholarship is open and ALUCA members are invited to lodge their entries for a chance to win a once in a lifetime overseas life insurance conference package to the value of AU$8,000. Read more


Court of Appeal rules on TPD cover cessation
MLC Nominees Pty Ltd v Daffy [2017] VSCA 110
In this decision, the Supreme Court of Victoria – Court of Appeal has reversed the lower court decision of Daffy (VSC), finding for the life insurer. The judgment is highly relevant for determining when the insured TPD event has occurred under what might be termed, a standard TPD insuring clause. Read more

Return to Sender – court refers trustees decision back
Gomez v Board of Trustees of the State Public Superannuation Scheme [2017] QSC 98
This decision serves as a timely reminder that the considerations which a court will have regard to in determining whether the determination of a trustee has miscarried are not the same as those for an insurer albeit in some circumstances, they are largely analogous. Read more

Court grants relief to insurer seeking access to overseas medical records
Yabsley v MLC Limited [2017] NSWSC 832
The decision serves as an example of where a court was prepared to assist an insurer in gaining access to overseas medical records, the court exercising its discretion to order that Mr Yabsley execute a power-of-attorney in favour of the insurer. Read more

Game, Set and Match; Court Finds Reasonable Decision
Dotlic v Hannover Life Re of Australasia Limited [2017] NSWSC 986
In this decision, the Supreme Court of NSW delivered a judgment regarding the reasonableness of an insurer's decision in a TPD claim containing an ‘opinion’ clause (commonly referred to as the 'stage 1' enquiry). Read more


  • FOS finds PEC exclusion reasonable and not in breach of Disability Discrimination Act (Cth), read more
  • SCT finds insured cannot rely on misrepresentation of financial planner, read more


In this edition of TurksLegal Q&A, we respond to a client's question about the Life Insurance Code of Practice. Read more

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