Handbook

The course is an introduction to the role, function and regulation of insurance in Australia.

It provides a framework for considering legal issues relating to insurance products and understanding the law and regulatory system that applies to particular types of insurance and insurers in Australia.

It introduces the different types of insurance regulated at federal or state and territory levels in Australia and the different regulatory systems and rules that apply. It looks at the main reforms of the common law introduced by the Insurance Contracts Act 1984 (Cth) and then considers issues of claims handling and the enforcement of insurance contracts in more detail. It then illustrates how law and regulation applies to some selected insurance products and the different ways in which those products are constructed. Finally, it considers the two main regulators and their roles and functions. This course is designed to provide an understanding of the underlying principles and the regulatory system.

The course is then supported by a range of associated topics delivered by online tutorials which seek to broaden the students understanding of the role of insurance in the economy and community including the problems associated with the mis-selling of poorly designed product to disadvantaged (including indigenous) communities.