Industry News
Mandatory Data Breach Reporting
On 19 October 2016, a Bill to amend the Privacy Act 1988 was presented to Federal Parliament which will bring Australia in line with other major economies in the area of mandatory data breach reporting
Fogarty v CGU Insurance Ltd [2016] ACTCA 62
Recent data released by the Insurance Council of Australia and the Department of Foreign Affairs and Trade has shed new light on the travel insurance industry. Whilst the data confirms what has been long understood within the industry, it does present areas of growth and development for travel insurers as more and more Australians travel overseas. Insurers should take note of this data when implementing new business development strategies to maximise the benefits available to customers whilst lowering the risk of potential disputes.
VWA v Probuild & Ors (No 2) [2016] VSC 615
In certain circumstances, a party who is under the compulsion of law – such as a subpoena or an order for production – to produce documents is entitled to be reimbursed its reasonable costs and expenses of compliance. In what circumstances may costs be recovered and what costs are recoverable?
Prince Alfred College Incorporated v ADC [2016] HCA 37
Industry News
Life Insurance Code of Practice
The FSC released a discussion draft of the Life Insurance Code of Practice in August. The Code will commence on 1 October 2016, and companies have a transition period until 30 June 2017
Productivity commission draft report on insurance within superannuation
The Productivity Commission recently released its draft report: How to Assess the Competitiveness and Efficiency of the Superannuation System (the Draft Report)
In our TurkAlert of March 2016 we foreshadowed the publication of the NSW parliamentary report on proposals for amending the law to combat serious invasions of privacy. On March 3 2016 as scheduled, the report was issued with seven recommendations.
Penrith City Council v Healey [2016] NSWCA 161
The Supreme Court of NSW has found that a vendor on a contract for sale of land had no entitlement to a cash deposit from a purchaser after a deposit bond used in place of cash by the purchaser had expired.
The decision of Parkes v Mamo [2016] NSWSC 1129 highlights the care vendors should take to have in place contract clauses to protect themselves when unforeseen delays result in deposit bonds or other guarantees expiring before completion.