Document ID: chunk:federal_register_of_legislation:F2024C00190:schedule:1:p1
Version: federal_register_of_legislation:F2024C00190
Segment Type: schedule
Provision Reference: sch 1 (pt 1/7)
Character Range: 21171–23885

Schedule 1—Exclusions
(regulation 5)

 1 A contract that includes provisions of insurance, although the contract would not ordinarily be regarded as a contract of insurance.
 2 A contract of insurance that provides cover (whether or not the cover is restricted) for:
 (a) destruction or damage to a mainly residential building (unless the contract is also a high‑value multiple building contract); or
 (b) loss or damage to the contents of a mainly residential building (unless the contract is also a high‑value multiple building contract); or
 (c) any of the following:
 (i) financial loss for fares for any form of transport or accommodation to be used in the course of a specified journey if the insured person does not start or complete the journey;
 (ii) loss or damage to personal belongings while the insured person is on a specified journey;
 (iii) a sickness or disease contracted, or injury sustained, by the insured person on a specified journey;
 (iv) loss, damage or compensation for an event affecting the insured person on a specified journey that ordinarily forms a part of insurance commonly regarded as travel insurance, including loss of cash or credit cards, legal liability, hijack, kidnap or ransom; or
 (d) loss or damage to personal property that:
 (i) is wholly or mainly used for personal, domestic or household purposes by the insured, a relative of the insured or a person who resides with the insured; and
 (ii) is of a kind that is ordinarily used by people for such purposes;
  unless:
 (iii) the personal property is part of the contents of a residential part of a mixed‑use or high‑value building; or
 (iv) the contract is also a high‑value multiple building contract.
 3 A contract of insurance that provides cover (whether or not the cover is restricted) for:
 (a) contracting a sickness or disease or a specified sickness or disease, or sustaining an injury or a specified injury, or dying as a result of the sickness, disease or injury; or
 (b) the death, sickness, disease, injury or unemployment of the insured person if the amount of the liability of the insurer under the contract is worked out by reference to a liability of the insured person under a specified agreement to which the insured person is a party.
 4 A contract of insurance:
 (a) that provides cover to farm business, including:
 (i) producing crops or livestock, including produce derived from the crops or livestock; or
 (ii) the interests of an owner, lessor, lessee or hirer of property used to produce crops or livestock; and
 (b) that does not provide cover for business interruption (insurance known as increased cost of working cover provided by the farm property cover of a farm insurance (or farm