Terms & Conditions

Duty of Disclosure

In order to make an informed assessment of the risk and calculate the appropriate premium, your insurer needs information about the risk you are asking to insure. Before you enter into a contract of insurance, you have a duty under the Insurance Contracts Act 1984 to disclose to your insurer every matter that you know, or could reasonably be expected to know, is relevant to the insurer’s decision whether to accept the risk and, if so, on what terms. The duty also applies when you renew, extend, vary or reinstate a contract of insurance.

You do not have to disclose anything that:

  • Reduces the risk to be undertaken by the insurer;
  • Is common knowledge;
  • Your insurer knows, or in the ordinary course of business, ought to know ; or
  • The insurer has waived your obligation to disclose.

If you do not comply with your duty of disclosure, your insurer may be entitled to reduce it’s liability in respect of a claim or may cancel your contract of insurance. If the non-disclosure was fraudulent, the insurer may be able to avoid (or cancel) the contract of insurance from its beginning. This would have the effect that you were never insured.

One important matter to be disclosed is the history of losses suffered by the person seeking insurance or any closely associated person or entity. As you are responsible for checking that you have made complete disclosure, we suggest that you keep an up-to-date record of all such losses and claims. If you have any queries about whether information needs to be disclosed, please contact us.


General Advice Warning

The information on this website is general advice only and does not take into account your personal objectives, financial situation or needs. You should therefore consider the appropriateness of the information, in light of your objectives, financial situation or needs before deciding whether to purchase a general insurance product.

Please obtain a copy of, and consider the Product Disclosure Statement (PDS) applicable to the general insurance product before making any decision.


Broker Acting as Agent of Insurer

Insurance House Pty Ltd may hold a binding authority from an insurer to issue contracts of insurance and to deal with or settle claims on their behalf. When Insurance House Pty Ltd arranges insurance or deals with a claim under one of theses binders, we will be acting as the agent of the insurer, not as your agent. You will be informed when this is the case.