Before you enter into this policy with us, the Insurance Contracts Act 1984 (Cth) requires you to provide
us with the information we need to enable us to decide whether and on
what terms your proposal for insurance is acceptable and to calculate
how much premium is required for your policy.
You will be asked verious questions when you first apply for your policy. When you answer these questions, you must:
If you vary, extend, reinstate or replace the policy your duty is to
tell us before that time, every matter known to you which:
- give us honest and complete answers;
- tell us everything you know; and
- tell us everything that a reasonable person in the circumstances could be expected to tell us.
You do not need to tell us about any matter that:
- you know; or
- a reasonable person in the circumstances could be expected to know,
is relevant to our decision whether to insure you and whether any
special conditions need to apply to your policy.
Who does the duty apply to?
- diminishes our risk;
- is of common knowledge;
- we know or should know as an Insurer; or
- we tell you we do not need to know.
What happens if you or they breach the Duty?
- Everyone who is insured under the policy must comply with the relevant duty.
- If you or they do not comply
with the relevant duty, we may cancel the policy or reduce the amount
we pay if you make a claim. If fraud is involved, we may treat the policy
as if it never existed and pay nothing.