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Unfair Contract Terms and Insurance Contracts: Further Reforms and ASIC Guidance

Unfair Contract Terms and Insurance Contracts: Further Reforms and ASIC Guidance

On 9 November 2020, Treasury released its Regulation Impact Statement for Decision titled ‘Enhancements to Unfair Contract Term Protections’ (Impact Statement).

12 November 2020

Climate change litigation in Australia: Legislative and legal pressure build.

Recent political, legal and legislative developments mean that pressure on Australian companies to address climate risk has never been higher.

09 November 2020

Case dismissed: aggrieved investor fails in class action against Worley

In a highly anticipated judgment, the Federal Court of Australia has dismissed a securities class action brought against Worley Limited (Worley) alleging breaches of continuous disclosure laws and...

22 October 2020

Financial Services Royal Commission draft legislation – Will insurers be able to implement all changes consistently?

This article was written by Astrid Sugden, Travis Toemoe, Mandy Tsang, Chloe Walker and Sarah Yu.This alert provides key takeaways and our in-depth analysis of some of the proposed amendments...

18 February 2020

The new data economy is approaching: Open Banking mandated to start from 1 July 2020

The legal framework is now in place for the start of the CDR in the banking sector. The timeframes for responding to requests for consumer data have...

11 February 2020

Treasury’s proposals for a new Financial Accountability Regime

This article was written by Diana Nicholson, Tim Bednall and Rebecca Williams.Treasury has released a Proposal Paper for the Financial Accountability Regime (“FAR”).  When legislated, FAR will impose...

03 February 2020

Insurance claims services: Can you handle it? Claims handling set to become a new financial service

Treasury has released draft legislation to make handling and settlement of insurance claims a new ‘financial service’. The exposure draft is open for consultation until 10 January...

12 December 2019

Key insight into claim on Warranty & Indemnity insurance

The Supreme Court of Victoria has considered whether an insured buyer under a warranty and indemnity (W&I) policy is entitled to indemnity from an insurer in circumstances where...

13 November 2019

Risky business – does a promise to advance Defence Costs preclude insurers from relying on non-disclosure until final determination?

The Full Court of the Federal Court of Australia recently considered the relationship between the Advancement of Defence Costs extension and the available remedies for insurers arising out...

15 August 2018

Unpacking Treasury’s proposal to extend unfair contract terms protections to insurance contracts – what it means for you

Australian Treasury has eeleased a proposal paper outlining the planned extension of the unfair contract terms laws to standard form insurance contracts.

06 July 2018

Statutory limitation on “injured person” evidence found not to apply to corporate plaintiff

The Supreme Court of WA provided guidance on the admissibility of hindsight evidence and determined that the position differed between individual and corporate plaintiffs.

07 June 2018

Superannuation: Assessing Efficiency and Competitiveness – the Productivity Commission’s Draft Report released today

The Productivity Commission’s Draft Report aims to provide an overall assessment of the superannuation system and recommend policy changes.

29 May 2018
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