ARTICLE · 15 MAY 2018

Insurance & Reinsurance In Australia: An Overview

Clyde & Co

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Partners David Amentas and Avryl Lattin are pleased to contribute the Australian chapter to The Legal 500: 2nd Edition Insurance & Reinsurance Comparative Guide.

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Partners David Amentas and Avryl Lattin are pleased to contribute the Australian chapter to The Legal 500: 2nd Edition Insurance & Reinsurance Comparative Guide. The below overview addresses topics such as contract regulation, licensing, penalties, policyholder protection, alternative dispute resolution and insight into the future of the insurance market over the next five years. To download a PDF of the chapter or to view the complete global guide, please see links at the bottom of the page.

1. How is the writing of insurance contracts regulated in Australia?

Insurance contracts in Australia are regulated by various Commonwealth Acts which deal with both the activity of insurers and reinsurers and the writing of the contracts. The activity of insurers is regulated by (i) the Insurance Act 1973 (Cth) (IA) for general insurers, (ii) the Life Insurance Act 1995 (Cth) (LIA) for life insurers, and (iii) the Private Health Insurance (Prudential Supervision) Act 2015

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