Financial Sector Reform (Hayne Royal Commission Response - Protecting Consumers (2019 Measures)) Act 2020 (2 of 2020)

Schedule 1   Unfair contract terms in insurance contracts

Australian Securities and Investments Commission Act 2001

5   After subsection 12BL(1)

Insert:

(1A) This Subdivision does not apply to a contract of insurance:

(a) under which a person provides medical indemnity cover (within the meaning of the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003) for:

(i) a medical practitioner (within the meaning of that Act); or

(ii) a registered health professional (within the meaning of that Act) prescribed by regulations made under that Act for the purposes of a provision of Part 3 of that Act; and

(b) to which that Act applies.