In August 2019, AFCA published decisions (613562 and 619820) which considered the scenario of whether underwritten cover initially entered into by the earlier group insurer but now sitting with a later insurer, could be subject to a s29 of an ICA avoidance or variation, by the later insurer.
Facts
Summary
This case considers the instances in which an indemnity cost order can be challenged pursuant to Clause 90 of the Dust Diseases Tribunal Regulation.
Background
Summary
Summary
The respondent worker injured both of his knees while undertaking employment with the appellant, which resulted in a number of surgical procedures.
Legislative Developments
There are no legislative developments to report this month.
Recent Decisions
To assume or not to assume – WCC says do neither
Naylor v A Noble & Son Limited [2019] NSWWCCMA 144 (11 October 2019)
Summary
Solicitors and conveyancers for vendors and developers need to be aware of the additional vendor disclosure obligations in force since 1 December 2019.
The changes have come into effect following the commencement of the Conveyancing Legislation Amendment Act 2018 (‘the Act’) and the Conveyancing (Sale of Land) Amendment Regulation 2019 (‘the Regulations’).
Industry News
The unfair contract terms reforms were introduced into Federal Parliament last week under the Financial Sector Reform (Hayne Royal Commission Response – Protecting Consumers (2019 Measures)) Bill 2019 (the Bill). Schedule 1 to the Bill gives effect to recommendation 4.7 of the Financial Services Royal Commission to extend the existing protections under the Australian Securities and Investment Commission Act 2001 (ASIC Act) to insurance contracts governed by the Insurance Contracts Act 1984 (ICA).
Background
In Report 498 (2016), ASIC promised a standalone investigation of TPD after finding an average 16% TPD decline rate, which in their view, was unacceptably high.
That review is now complete and has resulted in report 633 ‘Holes in the safety net: A review of TPD insurance claims’.
The review involved an investigation of seven life insurers representing 65-70% of TPD market in the target calendar years of 2016 and 2017.