Financial Sector Reform (Hayne Royal Commission Response) Act 2020 (135 of 2020)

Schedule 2   Insurer avoidance of life insurance contracts, and duty to take reasonable care not to make a misrepresentation

Part 2   Duty to take reasonable care not to make a misrepresentation

Insurance Contracts Act 1984

3   Subsection 11(1)

Insert:

consumer insurance contract has the meaning given by section 11AB.

duty to take reasonable care not to make a misrepresentation means the duty referred to in section 20B.

relevant failure , in relation to a contract of insurance, has the meaning given by section 27AA.