HOME BUILDING ACT 1989 - SECT 103EB
False or misleading conduct by insurers and insurance intermediaries
HOME BUILDING ACT 1989 - SECT 103EB
False or misleading conduct by insurers and insurance intermediaries
103EB False or misleading conduct by insurers and insurance intermediaries
(1) In this section--
"insurance intermediary" means--
(a) a person who arranges contracts of
insurance in New South Wales--
(i) for reward, or
(ii) as an agent for a
person carrying on a business of insurance, or
(b) a financial services
licensee (as defined in section 761A of the Corporations Act 2001of the
Commonwealth) whose licence covers arranging contracts of insurance as an
agent for a person carrying on a business of insurance, or
(c) a regulated
principal (as defined in section 1430 of the Corporations Act 2001 of the
Commonwealth) when carrying on business as an insurance broker as authorised
by Subdivision D of Division 1 of Part 10.2 of that Act.
"insurer" means a person who carries on insurance business as defined in the
Insurance Act 1973of the Commonwealth.
(2) An insurer or
insurance intermediary must not make a representation with respect to any
insurance (whether by means of an advertisement or otherwise) that could
reasonably be expected to cause a person to believe that the insurance meets
the requirements of this Act, unless the insurance meets those requirements.