Most people during a lifetime will take out numerous insurance policies to protect themselves against situations in which they may suffer financial loss. In spite of this, very few people really understand the cover offered under their policies, or how to take action to get a claim paid.

This topic focuses on:

Legislation

Insurance policies are contracts regulated by both Commonwealth legislation and common law. The main Acts regulating insurance are:

Health insurance policies are also regulated by Commonwealth legislation. The main Acts regulating health insurance are:

Code of Practice

There is a General Insurance Code of Practice, which deals with service standards for general insurance products. The Code does not relate to life or health insurance, reinsurance, workers compensation, marine insurance, medical indemnity insurance, or compulsory third party insurance.