IMPORTANT NOTICE
PLEASE READ THE FOLLOWING ADVICE BEFORE PROCEEDING TO
COMPLETE THIS PROPOSAL FORM
Your Professional Indemnity Insurance Policy is issued on a CLAIMS MADE
basis.
This means that this policy responds to:
- Claims first made
against you during the period of insurance and notified to the Insurer during
that period of insurance, providing that you were not aware at any time prior
to the policy inception of circumstances which would have put a reasonable
person in your position on notice that a Claim may be made against you; and
- Pursuant to Section 40, sub-section 3 of the Insurance Contracts Act 1984 (Cth.) which states:
“Where the Insured gave notice in writing to the Insurer of facts that might
give rise to a Claim against the Insured as soon as was reasonably practicable
after the Insured became aware of those facts but before the insurance cover
provided by the contract expired, the Insurer is not relieved of liability
under the contract in respect of the Claim, when made, by reason only that it
was made after the expiration of the period of insurance cover provided by the
contract”.
When the policy expires, no new notification generally can
be made on the expired policy even though the event giving rise to a Claim against
you may have occurred during the period of insurance. You will not be entitled
to indemnity under your new policy in respect of any Claim arising out of
circumstances of which you were aware at any time prior to policy inception
which would have put a reasonable person in your position on notice that a
Claim may be made against you.
When completing your proposal you are obliged to report and
provide full details of all circumstances which have become known to you and
which would put a reasonable person in your position on notice that a Claim may
be made against you. This is important to ensure that you make proper
disclosure (refer to notice pursuant to the Insurance Contracts Act 1984
(Cth.) in order that your entitlement to full indemnity under your new
policy is not placed in jeopardy. In accordance with the provisions of the Insurance
Contracts Act 1984 (Cth.), DUAL Australia Pty Ltd is required to advise you
of your responsibilities in relation to the disclosure of relevant information.
Your Duty of Disclosure
Before you enter into a contract of general insurance with
an Insurer, you have a duty, under the Insurance Contracts Act 1984 (Cth.) to
disclose to the Insurer every matter that you know, or could reasonably be
expected to know, is relevant to the Insurer’s decision whether to accept the
risk of the insurance and, if so, upon what terms. You have the same duty to disclose
those matters to the Insurer before you renew, extend, vary or reinstate a
contract of general insurance.
Your duty however does not require disclosure of matter:
- That diminishes the risk to be undertaken by the Insurer;
- That is of common knowledge;
- That your Insurer knows or, in the ordinary course of his business, ought to know;
- As to which compliance with your duty is waived by their Insurer.
(It should be noted that this duty continues after the
proposal form has been completed up until the time the policy is entered into.)
Non-Disclosure
If you fail to comply with your duty of disclosure, the
Insurer may be entitled to reduce their liability under the contract in respect
of a Claim or may cancel the contract. If your non-disclosure is fraudulent,
the Insurer may also have the option of avoiding the contract from its
beginning. It is therefore vital that you make sufficient enquiries BEFORE you complete
your proposal form and BEFORE you sign any declaration that there has been no
change in the information proposed. Please take notice of the following
statements pursuant to the provisions of the Insurance Contracts Act 1984
(Cth.).
Surrender or Waiver of any Right of Contribution or Indemnity
Where another person or company would be liable to
compensate you or hold you harmless for part or allor any loss or damage
otherwise covered by the policy, but you have agreed with that person either
before or after the inception of the policy that you would not seek to recover
any loss or damage from that person, you are NOT covered under the policy for any
such loss or damage.
Notice of Occurrences or Events
If during the period of this policy, the Insured shall
become aware of any occurrence which may give rise to a Claim under the policy
and shall during the period of this insurance given written notice to the
Insurer of such occurrence, any Claim which may be subsequently made arising
out of the occurrence of which notification has been given shall be deemed to be
a Claim made during the period of this policy whenever such Claim may actually
be made.
Contract by the Insured Affecting Rights of Subrogation
If the proposed contract of insurance includes a provision
which excludes or limits the Insurer’s liability in respect of any loss because
you are a party to an agreement which excludes or limits your rights to recover
damages from a third party in respect of that loss, you are hereby notified
that signing any such agreement may place your indemnity under the proposed
contract of insurance at risk.
When completing this Proposal Form
- Please answer all questions giving full and complete answers.
- It is the duty of the Applicant to provide all information that is requested in
the proposal form as well as to add additional relevant fact.
- A relevant fact is such know fact and/or circumstance that may influence in the
evaluation of the risk by the insurer. If you have any doubts about what a
relevant fact is, please do not hesitate to contact your broker or insurer.
- If the space provided on the Proposal Form is insufficient, please use a separate
signed and dated sheet in order to provide a complete answer to any question.
- The proposal form must be completed, signed and dated by a person, who must be of
legal capacity and authorised for the purpose of requesting professional
indemnity liability insurance for the firm who acts as an Applicant.
This proposal form does NOT BIND the Proposer to complete
the insurance but will form part of any insurance.
Privacy Statement
At DUAL Australia Pty Ltd, we are committed to compliance
with the Privacy Act 1988 (Cth). We use your personal information to assess the
risk of and provide insurance, and assess and manage claims. We may also use
your contact details to send you information and offers about products and
services that we believe will be of interest to you. If you don’t provide us
with full information, we may not be able to provide insurance or assess a
claim. If you provide us with information about someone else you must obtain
their consent to do so.
We provide your information to the insurer we represent when
we issue and administer your insurance. When providing a quotation or insurance
terms, we will tell you if the insurer is overseas and if so, where they are.
We are part of the Hyperion Insurance Group and may provide your information to
UK based Group entities who provide us with business support services. We may
also provide your information to your broker and our contracted third party
service providers (e.g. claims management companies), but will take all
reasonable steps to ensure that they comply with the Privacy Act.
Our Privacy Policy contains information about how you can
access the information we hold about you, ask us to correct it, or make a
privacy related complaint. You can obtain a copy from our Privacy Officer by
telephone (+61 (0)2 9248 6300), email (reception@dualaustralia.com.au) or by
visiting our website (www.dualaustralia.com.au).
By providing us with your personal information, you consent
to its collection and use as outlined above and in our Privacy Policy.
DUAL Australia recommends that you keep a record of all
information supplied for the purpose of entering into an insurance contract
(including copies of this Proposal Form and correspondence).
