Document ID: chunk:federal_register_of_legislation:C2025C00185:section:948b
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 948B
Character Range: 3947356–3948465

948B  Situation in which this Division applies
  This Division applies in relation to the provision of a claims handling and settling service in the following circumstances:
 (a) the service is offering to settle all or part of a claim under a general insurance product using a cash payment;
 (b) the service is provided:
 (i) by a financial services licensee (the providing entity); or
 (ii) by a person (the providing entity) in their capacity as authorised representative of a financial services licensee (the authorising licensee), or of 2 or more financial services licensees (the authorising licensees); or
 (iii) by another person on behalf of a financial services licensee (the providing entity), or on behalf of 2 or more financial services licensees (each of which is a providing entity);
 (c) the service is provided to a person (the client) as a retail client who is insured under the insurance product;
 (d) cash payment is not the only option legally available to the client to settle the claim, or the part of the claim.

Subdivision B—Requirement for a Cash Settlement Fact Sheet to be given