Document ID: chunk:federal_register_of_legislation:C2024C00063:section:11:p4
Version: federal_register_of_legislation:C2024C00063
Segment Type: section
Provision Reference: s 11 (pt 4/5)
Character Range: 26521–29109

purposes of this Act, an interim contract of insurance is a contract of insurance that is intended by the insurer:
 (a) to provide temporary insurance cover; and
 (b) to be replaced or superseded by another contract of insurance;
whether or not the contract is evidenced by a document of the kind usually known as a cover note.
 (4) For the purposes of this Act:
 (a) a superannuation contract is a contract of life insurance that is being maintained for the purposes of a superannuation or retirement scheme, where the insured is a trustee for the purposes of the scheme; and
 (b) an individual superannuation contract is a superannuation contract as referred to in paragraph (a) under which there can be one life insured only.
 (6) For the purposes of this Act, a contract of general insurance is a contract of insurance that is not a contract of life insurance.
 (7) For the purposes of this Act, a contract of liability insurance is a contract of general insurance that provides insurance cover in respect of the insured's liability for loss or damage caused to a person who is not the insured.
 (8) For the purposes of this Act, an instalment contract of general insurance is a contract of general insurance the premium for which is, by virtue of a provision of the contract, payable by 7 or more instalments in a year.
 (9) Subject to subsection (10), a reference in this Act to the entering into of a contract of insurance includes a reference to:
 (a) in the case of a contract of life insurance—the making of an agreement by the parties to the contract to extend or vary the contract;
 (b) in the case of any other contract of insurance—the making of an agreement by the parties to the contract to renew, extend or vary the contract; or
 (c) the reinstatement of any previous contract of insurance.
 (10) Notwithstanding subsection (9):
 (a) subject to paragraph (c), where, after the commencement of this Act and at or before the original entering into, or the renewal, extension or reinstatement, of a contract of insurance, the insurer has given information to the insured as required by section 22, 35, 37, 37C, 40, 44, 49 or 68, the requirement by that section to give information to the insured shall be deemed to be satisfied at or before any subsequent renewal, extension or reinstatement of the contract;
 (b) sections 22 and 40 do not require an insurer to give information to the insured at or before a variation of the relevant contract of insurance, unless subsection (10A) applies to the variation; and
 (c) sections 35, 37, 37C, 44, 49 and 68 require an insurer to