Western Australian Consolidated Acts Western Australian Consolidated Acts In this Part, unless
the contrary intention appears —
accident insurance means insurance for any payment
agreed to be made on the death of any person only from accident or violence or
otherwise than from a natural cause or as compensation for personal injury;
contract of insurance means a contract of
insurance that effects general insurance (whether or not it also effects other
kinds of insurance);
Defence Service Homes Insurance Scheme has the
meaning given to that term in section 38 of the Defence Service Homes
Act 1918 of the Commonwealth;
Division 4 insurer has the meaning given to
that term in section 95;
financial services licensee has the meaning given
to that term in section 761A of the Corporations Act;
general insurance has the meaning given to that
term in section 92A;
health insurance business has the meaning given to
that term in section 67 of the National Health Act 1953 of the
Commonwealth;
instalment means a portion of a premium;
insurer means the Insurance Commission of Western
Australia or a person who —
(a)
writes general insurance otherwise than as an intermediary of an insurer
(including a Division 4 insurer); and
(b) is
either —
(i)
authorised under the Insurance Act 1973 of the
Commonwealth; or
(ii)
registered under the Life Insurance Act 1995 of the
Commonwealth;
intermediary , of an insurer, means —
(a) a
representative of the insurer; or
(b) a
financial services licensee, who is not otherwise a representative of the
insurer, who arranges or effects insurance for or with the insurer;
life insurance means insurance provided under or
in accordance with a policy of insurance or assurance on any life or lives or
on any event or contingency relating to or depending on any life or lives,
other than a policy of accident insurance;
offshore risk insurance means any kind of
insurance that is applicable to —
(a)
property outside Australia; or
(b) any
liability, loss or damage that arises or is brought about as a result of the
occurrence of an event outside Australia;
premium means the total consideration paid to an
insurer (including a Division 4 insurer) by or on behalf of an insured
person to effect insurance, without deductions for any amounts paid or
payable, or allowed or allowable, by way of commission or discount to an
intermediary of the insurer, but does not include —
(a) an
amount paid to an intermediary of the insurer by the insured person as a fee
if the amount can be clearly identified as a fee; or
(b) an
amount paid on account of duty under this Part or interstate duty;
registered insurer means an insurer who is
registered under section 93A;
registered organisation has the meaning given to
that term in section 4 of the National Health Act 1953 of the
Commonwealth;
reinsurance means the indemnification of one party
by another against liability or payment arising under a contract or contracts
of insurance or reinsurance;
representative has the meaning given to that term
in section 910A of the Corporations Act;
return period , of a registered insurer, has the
meaning given in section 94B.
[Section 92 inserted by No. 36 of 2005
s. 6.]