Commonwealth Consolidated Regulations

INSURANCE CONTRACTS REGULATIONS 1985 - REG 30

For the purposes of section 46 of the Act, each of the following classes of contracts is declared to be a class of contracts in relation to which that section does not apply:

(a)

contracts of insurance commonly known as construction risks insurance contracts;

(b)

contracts of insurance commonly known as industrial special risks insurance contracts or commercial risks insurance contracts;

(c)

contracts of insurance under which the insurer agrees to indemnify the insured, in relation to a business undertaking, against loss resulting from a breakdown of, or malfunction in, machinery (including electronic equipment) or plant of the insured, being:

(a)

loss in respect of the repair or replacement of that machinery or plant; or

(b)

any further loss resulting from that breakdown or malfunction;

or both, but not against any other loss;

(d)

contracts of insurance commonly known as products liability insurance contracts;

(e)

contracts of insurance commonly known as `broad form' accidental loss and damage insurance contracts.