Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p57
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 57/148)
Character Range: 475536–478241

subparagraph 761G(5)(b)(iii) of the Act, a home contents insurance product is a contract or part of a contract that provides insurance cover (whether or not the cover is limited or restricted in any way) in respect of loss of or damage to the contents of a residential building.
 (2) A home contents insurance product does not include:
 (a) insurance to or in relation to which the Marine Insurance Act 1909 applies; or
 (b) insurance entered into, or proposed to be entered into, for the purposes of a law (including a law of a State or Territory) that relates to:
 (i) workers' compensation; or
 (ii) compulsory third party compensation.
 (3) In this regulation:
contents, in relation to a residential building, means any of the following items:
 (a) furniture, furnishings and carpets (whether fixed or unfixed);
 (b) household goods;
 (c) clothing and other personal effects;
 (d) a picture;
 (e) a work of art;
 (f) a fur;
 (g) a piece of jewellery;
 (h) a gold or silver article;
 (i) a document of any kind;
 (j) a collection of any kind;
 (k) swimming pools that:
 (i) are not fixtures; and
 (ii) are owned by the insured or by a member of the insured's family ordinarily residing with the insured;
  but does not include an article or thing to which the definition of residential building applies.
residential building means:
 (a) a building used principally and primarily as a place of residence on the site; and
 (b) out‑buildings used for domestic purposes, being purposes related to the use of the principal residence on the site.
 (4) A residential building does not include:
 (a) a hotel; or
 (b) a motel; or
 (c) a boarding house; or
 (d) a building that is in the course of construction; or
 (e) a temporary building or structure or a demountable or moveable structure.

7.1.14  Meaning of retail client and wholesale client: sickness and accident insurance product
 (1) For subparagraph 761G(5)(b)(iv) of the Act, a sickness and accident insurance product is a contract or part of a contract that has either of the following characteristics:
 (a) the contract provides insurance cover (whether the cover is limited or restricted in any way) in respect of the insured person contracting a sickness or disease or a specified sickness or disease or sustaining an injury or a specified injury;
 (b) if the insured person dies as a result of the sickness, disease or injury, the contract provides insurance cover (whether the cover is limited or restricted in any way) in respect of the death.
 (2) A sickness and accident insurance product does not include:
 (a) sickness and accident policies which are guaranteed 'renewable' at the option of the insured or where the insurer guarantees not