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Australian insurance law is based on commercial contract law, but is subject to regulations that affect the insurance industry and insurance contracts within Australia. Commonwealth Parliament has power to make laws with respect to insurance and insurance companies under section 51 (xiv) (insurance other than state insurance) and (xx) (the ...
Australia's insurance market can be divided into roughly three components: life insurance, general insurance and health insurance.These markets are fairly distinct, with most larger insurers focusing on only one type, although in recent times several of these companies have broadened their scope into more general financial services, and have faced competition from banks and subsidiaries of ...
In Australia, it is a mandatory requirement for registered healthcare practitioners to hold appropriate medical indemnity insurance coverage for healthcare practices in Australia. Medical indemnity is a form of professional indemnity coverage defined by Australian legislation – the Medical Indemnity (Prudential Supervision and Product ...
The firm is one of the largest consumer law firms in Australia. Slater & Gordon provide a range of specialist legal services including personal injury law, medical law, employment law and military law. In May 2007 Slater & Gordon became one of the first law firms in the world to go public when it was floated on the Australian Securities ...
At the time, the regulators of the Australian financial services industry were based on the institutions and not the regulatory function. APRA's predecessor regulators were the Insurance and Superannuation Commission, the Reserve Bank of Australia and the Australian Financial Institutions Commission (AFIC). The Wallis Inquiry recommended a new ...
After Employers Mutual Limited was established, the company enlarged and expanded its business throughout the following decades. In 1987, the company became an agent of the WorkerCover( now named icare workers insurance) in New South Wales, with a license to manage workers compensation claims.
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
Medicare is the publicly funded universal health care insurance scheme in Australia operated by the nation's social security agency, Services Australia.The scheme either partially or fully covers the cost of most health care, with services being delivered by state and territory governments or private enterprises.