insurance duty of disclosure

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All Class Insurance Brokers Pty Ltd is a member of both the Steadfast group and the National Association. Many of our staff are Qualified Practicing .

Your duty to disclose

When you apply for, or change or renew an insurance policy you have a legal duty of disclosure, which means you need to disclose anything that may influence our decision to insure you, and on what terms we insure you.

For example you need to disclose anything that might:-

• increase the risk to be undertaken by us
• not be evident to us, but may influence the insurance policy
• not be evident in the course of business but may influence the insurance policy

This duty applies when you renew or change an existing insurance policy. For a new policy you need to fulfil your duty of disclosure, but you do not need to disclose something to us unless we specifically ask you about it. However you must be honest in your answers to any questions your are asked, and you need to tell us anything that a reasonable person in your circumstances would include in answering such questions, without hiding anything relevant to the matter, as we will use these answers to determine the most appropriate insurance for your needs and circumstances.

It is also important to realise that your disclosure is made about yourself and any other persons to which you want to be covered by the insurance policy.

If it is apparent that this duty of disclosure has not been fulfilled, and/or that you have acted fraudulently, then we may reduce or refuse to pay a claim or even cancel the insurance policy.

You may also refer to the back of page one of your All Class Insurance brokers Pty Ltd invoices for a broader explanation.