Important Information
YOUR DUTY OF DISCLOSURE
Before you enter into a Contract of general insurance with an Insurer, you have a duty under the Insurance Contracts Act 1984 to disclose to the Insurer every matter that you know, or could reasonably expect to know, is relevant to the Insurer's decision whether to accept the risk of Insurance and if so, on what terms.You have the same duty to disclose those matters to the Insurer before you renew, extend, vary or reinstate a contract of general insurance. Your duty however does not require disclosure of matters.
- that diminishes the risk to be undertaken by the Insurer
- that is common knowledge
- that your Insurer knows or, in the ordinary course of business, ought to know
- as to which the compliance with your duty is waived by the Insurer
NON DISCLOSURE
If you fail to comply with your duty of disclosure, the Insurer may be entitled to reduce the liability under the Contract in respect of a claim or may cancel the contract. If your non-disclosure is fraudulent, the Insurer may also have the option of avoiding the contract from its beginning.
INSURANCE BROKERS CODE OF PRACTICE & COMPLAINTS / DISPUTE HANDLING FACILITIES
Commercial Reality Insurance Brokers is an AFS License (License No: 245568).
Complaints Officer
Commercial Reality Insurance Brokers Pty Ltd
145 Railway Place
PO Box 106
Email: twalshe@crib.net.au
Website: https://www.crib.net.au
We are a member of the Australian Financial Complaints Authority (AFCA), an External Dispute Resolution body. If your complaint cannot be resolved to your satisfaction within 20 business days, you have the right to refer the matter to the AFCA. Contact details below:
Mailing address -
Australian Financial Complaints Authority Limited
GPO Box 3
Melbourne, VIC 3001
Insurance Brokers Code of Practice
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