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The Insurance Act 1973 (Cth) sets minimum capital and solvency requirements for companies wanting to enter or operate in the insurance market. [1]Chapter 7 of the Corporations Act 2001 (Cth) regulates the way in which insurers and insurance agents and brokers carry on business and how they deal with the people they do business with and intend to do business with.
The law of contract in Australia is similar to the contract law of other Anglo-American common law jurisdictions, but differences from other jurisdictions have arisen over time because of statute law and divergent development of common law in the High Court, particularly since the 1980s.
AustLII was established in 1995. [1] [2] Founded as a joint program of the University of Technology Sydney and the University of New South Wales law schools, its initial funding was provided by the Australian Research Council. [3] Its public policy purpose is to improve access to justice through access to legal information. [4]
The Marriage Equality Act 2013 was invalid as inconsistent with the Marriage Act 1961 (Cth) Commonwealth Bank of Australia v Barker: 2014 French - there is no implied term in contracts of employment in Australia imposing a mutual duty of trust and confidence. Williams v Commonwealth (No 2) 2014 French -
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 ...
This template links to a variety of different case reports located on the Australasian Legal Information Institute (AustLII) website. You should look up the case you wish to cite on AustLII, then refer to the URL of the web page on which the case appears to fill in the information required by the template.
The concept of good faith was established in the insurance industry following the events of Carter v Boehm (1766), and is enshrined in the Insurance Contracts Act 1984 (ICA). [26] The act stipulates, in Section 13, obligations of all parties within a contract to act with utmost good faith.
Uberrima fides is strictly limited in English law to the formation of the insurance contract. [5] During the mid-20th century, American courts expanded it much farther into a post-formation implied covenant of good faith and fair dealing. Violation of that implied covenant came to be seen as a tort, now known as insurance bad faith. [5]