REC206-1883

The Committee recommends that the Australian Government amend the Insurance Contracts Act 1984 (Cth) so that from 1 July 2012 any derogation from Standard Cover is required to be communicated to policyholders as a departure from ideal standards:
- in clearly understood terms and separately from the policy or the Product Disclosure Statement;
- with specific reference to the fact that the policy derogates from Standard Cover; and
- with specific reference to the manner in which the policy derogates from Standard Cover.