Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteA person provides a claims handling and settling service if: (a) the person makes a recommendation, or states an opinion, in the following circumstances:
(i) the recommendation, or statement of opinion, is made in response to an inquiry by or on behalf of another person about an existing or a potential claim by the other person under an insurance product;
(b) the person assists another person to make a claim under an insurance product; or (c) the person represents a person insured under an insurance product in pursuing a claim under the product; or (d) the person assesses whether an insurer has a liability under an insurance product, or provides assistance in relation to such an assessment; or (e) the person makes a decision to accept or reject all or part of a claim under an insurance product; or (f) the person quantifies the extent of the insurer ' s liability to another person under an insurance product, or provides assistance in relation to the quantification of the extent of such a liability; or (g) the person offers to settle all or part of a claim under an insurance product; or (h) the person satisfies a liability of the insurer under an insurance product in full or partial settlement of a claim under the insurance product.
(ii) the recommendation, or statement of opinion, could reasonably be expected to influence a decision whether to continue with the existing claim or to make the potential claim; or
766G(2)
For the purposes of this Act, a claims handling and settling service provided in relation to an insurance product is to be treated as having been provided to the insured under the insurance product (who may be a person insured as a third party beneficiary under the contract of insurance that constitutes the insurance product, within the meaning of the Insurance Contracts Act 1984 ).
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