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

Schedule 7   Claims handling and settling services

Corporations Act 2001

11   At the end of Division 1 of Part 7.6

Add:

910D Insurance fulfilment providers taken to be acting on behalf of financial services licensees

An insurance fulfilment provider who:

(a) provides goods or services to a person insured under an insurance product in satisfaction of the liability of the insurer under the product; and

(b) has been engaged by a financial services licensee, or by another person on behalf of a financial services licensee, to provide those goods or services; and

(c) does not (apart from this section) provide those goods or services as a representative of the financial services licensee;

is taken to be acting on behalf of the financial services licensee in providing the goods or services.