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Legislation and contacts

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.

Contacts

There are a number of organisations that provide assistance with regard to complaints and resolving disputes between consumers and insurers. Contact details for these organisations are provided below. Not all organisations provide the same type of service or cover the same types of insurance products. For further information on the most relevant organisation for your particular type of insurance dispute see Complaints against insurance companies.

Australian Prudential Regulation Authority

Prudential regulator of the Australian financial services industry. Oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies and most members of the superannuation industry.

Australian Securities Investment Commission

Regulator of the Australian financial services industry. Oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies and most members of the superannuation industry. ASIC provides information to consumers and can deal with complaints from consumers about misconduct by service providers.

Insurance Law Service

Provides free legal advice to anyone in Australia (but does not assist businesses or insurers) on all types of insurance law matters. Some representation available but this is strictly means and merit tested.

Financial Ombudsman Service

National external dispute resolution scheme. Provides free advice and assistance to consumers to aid them in resolving complaints relating to the financial services industry, including banking, credit, loans, general insurance, life insurance, financial planning, investments, stock broking, managed funds and superannuation trusts.

HIV/AIDS Legal Centre (HALC)

Community legal centre which specialises in HIV related legal matters.

Private Health Insurance Ombudsman (PHIO)

Available to members of a private health fund. Provides an independent service to assist consumers with health insurance problems and enquiries.

Legislation and contacts  :  Last Revised: Mon Aug 8th 2016
The content of the Law Handbook is made available as a public service for information purposes only and should not be relied upon as a substitute for legal advice. See Disclaimer for details. For free and confidential legal advice in South Australia call 1300 366 424.