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Unfair contract terms – insurance contracts

Key documents

On 18 December 2017, the Government announced that it would extend the unfair contract term provisions to contracts of insurance. The Government is now seeking stakeholder views on a proposed model to implement this policy.

The proposed model seeks to ensure that consumers and small businesses that purchase insurance have the same access to protection from unfair terms in insurance contracts as they do for other contracts for financial products and services.

This proposed model involves amending the Insurance Contracts Act 1984 (IC Act) to allow the UCT laws in the Australian Securities and Investments Commission Act 2001 (ASIC Act) to apply to insurance contracts regulated by the IC Act.

In addition, it is proposed that the UCT laws in the ASIC Act will be tailored to accommodate specific features of insurance contracts.


You can submit responses to this consultation up until 24 August 2018.

Interested parties are invited to comment on this consultation.

While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.

Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

How to respond


Address written submissions to:

Manager, Insurance and Financial Services Unit
Financial System Division
The Treasury
Langton Crescent