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

5   Section 12

Omit all the words after "a duty other", substitute:

than:

(a) in relation to a consumer insurance contract or proposed consumer insurance contract - the duty to take reasonable care not to make a misrepresentation; or

(b) in relation to any other contract of insurance or proposed contract of insurance - the duty of disclosure.