Document ID: chunk:federal_register_of_legislation:F2021C00206:reg:24
Version: federal_register_of_legislation:F2021C00206
Segment Type: reg
Provision Reference: reg 24
Character Range: 40528–41774

24  Prescribed contracts
 (1) The following class of contracts of insurance is declared to be a class of contracts in relation to which Division 1 of Part V of the Act applies, namely, contracts that provide insurance cover (whether the cover is limited or restricted in any way) in respect of the insured person:
 (a) contracting a sickness or disease or a specified sickness or disease; or
 (b) sustaining an injury or a specified injury;
where the insured or one of the insureds is a natural person.
 (2) However, the class of contracts does not include any of the following:
 (a) a life policy within the meaning of the Life Insurance Act 1995;
 (b) a continuous disability insurance contract incorporated within a life policy within the meaning of the Life Insurance Act 1995;
 (c) a sickness and accident policy that:
 (i) is guaranteed renewable at the option of the insured; or
 (ii) the insurer guarantees not to cancel in response to a change in the risk;
  where the policy has been effected for a predetermined period of years in excess of 1 year;
 (d) a contract that is included in a class of contracts that is declared by some other section to be a class of contracts in relation to which Division 1 of Part V of the Act applies.