Commonwealth Numbered Acts

Insurance (Agents and Brokers) Act 1984 No. 75 of 1984 - SECT 14

14. (1) Where a contract of insurance is arranged or effected by an
insurance intermediary, payment to the insurance intermediary of moneys
payable by the insured to the insurer under or in relation to the contract,
whether in respect of a premium or otherwise, is a discharge, as between the
insured and the insurer, of the liability of the insured to the insurer in
respect of those moneys.

(2) Payment to an insurance intermediary by or on behalf of an intending
insured of moneys in respect of a contract of insurance to be arranged or
effected by the intermediary, whether the payment is in respect of a premium
or otherwise, is a discharge, as between the insured and the insurer, of any
liability of the insured under or in respect of the contract, to the extent of
the amount of the payment.

(3) Payment by an insurer to an insurance intermediary of moneys payable to an
insured, whether in respect of a claim, return of premiums or otherwise, under
or in relation to a contract of insurance, does not discharge any liability of
the insurer to the insured in respect of those moneys.

(4) An agreement, in so far as it purports to alter or restrict the operation
of sub-section (1), (2) or (3), is void.

(5) Sub-section (4) does not render void an agreement between an insurance
intermediary and an insured in so far as the agreement allows the insurance
intermediary to set off against moneys payable to the insured moneys payable
by the insured to the insurance intermediary in respect of premiums.