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CORPORATIONS ACT 2001 - SECT 766G

Meaning of claims handling and settling service

             (1)  A person provides a claims handling and settling service if:

                     (a)  the person makes a recommendation, or states an opinion, in the following circumstances:

                              (i)  the recommendation, or statement of opinion, is made in response to an inquiry by or on behalf of another person about an existing or a potential claim by the other person under an insurance product;

                             (ii)  the recommendation, or statement of opinion, could reasonably be expected to influence a decision whether to continue with the existing claim or to make the potential claim; or

                     (b)  the person assists another person to make a claim under an insurance product; or

                     (c)  the person represents a person insured under an insurance product in pursuing a claim under the product; or

                     (d)  the person assesses whether an insurer has a liability under an insurance product, or provides assistance in relation to such an assessment; or

                     (e)  the person makes a decision to accept or reject all or part of a claim under an insurance product; or

                      (f)  the person quantifies the extent of the insurer's liability to another person under an insurance product, or provides assistance in relation to the quantification of the extent of such a liability; or

                     (g)  the person offers to settle all or part of a claim under an insurance product; or

                     (h)  the person satisfies a liability of the insurer under an insurance product in full or partial settlement of a claim under the insurance product.

             (2)  For the purposes of this Act, a claims handling and settling service provided in relation to an insurance product is to be treated as having been provided to the insured under the insurance product (who may be a person insured as a third party beneficiary under the contract of insurance that constitutes the insurance product, within the meaning of the Insurance Contracts Act 1984 ).



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