Mann's Annotated Insurance Contracts Act 9th Edition

30^th year anniversary!

Mann’s Annotated Insurance Contracts Act, 9^th edition provides the full text of the Insurance Contracts Act 1984 (Cth) accompanied by clear, concise and wide-ranging annotations helpfully explaining the operation of the Act.

Given the numerous rounds of changes to the Insurance Contracts Act , this book includes historical forms of a number of key sections, including section 21 “The insured’s duty of disclosure” and sections 28 and 29 which specify an insurer’s remedies for failure to take reasonable care not to make a misrepresentation, or non-disclosure or misrepresentation (as applicable).

This book also contains commentary on the obligation of an Australian financial services licensee to do all things necessary to ensure that the financial services covered by the licence are provided “efficiently, honestly and fairly”, under section 912A(1)(a) of the Corporations Act 2001 (Cth), in so far as this obligation applies to, or is relevant to, insurance contracts. The obligation is relevant to Australian insurers, as they are generally required to hold an Australian financial services licence. Since 13 March 2019 a contravention has carried a maximum penalty, subject to turnover, of 2.5 million penalty units. There is a very large overlap between an insurer’s duty of utmost good faith and its obligation to provide the financial services efficiently, honestly and fairly. Prima facie, a failure by an insurer to act with the utmost good faith is also a failure to provide the financial services efficiently, honestly and fairly, which may attract a substantial penalty.

For the first time, this edition also contains commentary on the unfair contact terms regime in Subdiv BA of Div 2 of Pt 2 of the of the Australian Securities and Investments Commission Act 2001 (Cth) in so far as it applies to, or is relevant to, insurance contracts. Since 9 November 2023 this regime has included civil penalty provisions. The Court also has power to vary the insurance contact.

Mann’s 9^th edition is an essential publication for all insurance lawyers, insurance professionals including underwriters, claims managers, insurance brokers, loss adjusters, academics and students. The title provides a practical guide to the Insurance Contracts Act and related legislation with annotations.

This book also contains an insurance annotation of both the requirement for insurers to act “efficiently, honestly and fairly” pursuant to s 912A(1)(a) of the Corporations Act 2001 (Cth) and the unfair contract terms regime in ss 12BF – 12BM of Division 2 of Part 2 of the Australian Securities and Investments Commission Act 2001 (Cth).

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