YOUR DUTY OF DISCLOSURE. Consumers: You must take reasonable care not to make a misrepresentation to the insurer. This means that all the answers you give and statements you make as part of your insurance application, including at renewal and when an amendment to your policy is required, should be honest and accurate. If you deliberately or carelessly misinform the insurers, this could mean that part of or all of a claim may not be paid. Non-consumer customers: Where we arrange insurance wholly or mainly for purposes related to your trade, business or profession, you have a duty under The Insurance Xxx 0000 to make a fair presentation of the risk. This means that you must disclose every material circumstance which you and/or your senior management and/or anyone responsible for arranging your insurance know or ought to know. Alternatively, you must disclose sufficient information which would put the insurer on notice that it needs to make further enquiries for the purpose of revealing those material circumstances. You are expected to carry out a reasonable search in order to make a fair presentation of the risk and will be deemed to know what should reasonably have been revealed by the search. HOW TO CANCEL
YOUR DUTY OF DISCLOSURE. Consumers: You must take reasonable care not to make a misrepresentation to the insurer. This means that all the answers you give and statements you make as part of your insurance application, including at renewal and when an amendment to your policy is required, should be honest and accurate. If you deliberately or carelessly misinform the insurers, this could mean that part of or all of a claim may not be paid. Commercial Customers (Non Consumers): Where we arrange insurance wholly or mainly for purposes related to your trade, business or profession, you have a duty under The Insurance Xxx 0000 to make a fair presentation of the risk. This means that you must disclose every material circumstance which you and/or your senior management and/or anyone responsible for arranging your insurance know or ought to know. Alternatively, you must disclose sufficient information which would put the insurer on notice that it needs to make further enquiries for the purpose of revealing those material circumstances. You are expected to carry out a reasonable search in order to make a fair presentation of the risk and will be deemed to know what should reasonably have been revealed by the search. For general insurance policies you may have a right to cancel a policy without penalty within the first 14 days (or, in some cases, longer). Please refer to your policy summary or your policy document for further details. If you cancel within this initial cancellation period (where this applies) you will receive a pro rata refund of premium from the insurer. However, insurers are entitled to make an administrative charge. In addition, we may charge an amount which reflects the administrative costs of arranging and cancelling the policy. Details of the amount we charge are given in our tariff of administration charges.
YOUR DUTY OF DISCLOSURE. Consumers: You must take reasonable care not to make a misrepresentation to the insurer. This means that all the answers you give and statements you make as part of your insurance application, including at renewal and when an amendment to your policy is required, should be honest and accurate. If you deliberately or carelessly misinform the insurers, this could mean that part of or all of a claim may not be paid.
YOUR DUTY OF DISCLOSURE. Before You enter into an insurance contract, You have a duty to tell Us anything that You know, or could reasonably be expected to know, may affect Our decision to insure You and on what terms. You have this duty until We agree to insure You. You have the same duty before You renew, extend, vary or reinstate an insurance contract. You do not need to tell Us anything that: • reduces the risk We insure You for; or • is common knowledge; or • We know or should know as an insurer; or • We waive Your duty to tell Us about. If You do not tell Us anything you are required to, We may cancel Your contract or reduce the amount We will pay You if You make a claim under this Policy, or both. If Your failure to tell Us is fraudulent, We may refuse to pay Your claim under this Policy and treat the contract as if it never existed. Once cover has commenced You have 21 (twenty one) calendar days to decide whether this Policy meets Your needs. This is called the “cooling off period”. If during this time, You decide You are not completely satisfied with this Policy, and provided You have not made a claim under this Policy, You can cancel this Policy by notifying Us in writing. We will refund in full any Premium You have paid. NM Insurance Agency Pty Ltd, ABN 34 100 633 038, trading as Nautilus Marine are committed to protecting Your privacy in accordance with the Privacy Act 1988 (Cth) (Privacy Act) and the Australian Privacy Principles (APPs). This Privacy Statement outlines how We collect, disclose and handle Your personal information (including sensitive information) as defined in the Act. Why We Collect Your Personal Information We collect Your personal information (including sensitive information) so We can: • identify You and conduct necessary checks; • determine what service or products We can provide to You e.g. offer our insurance products; • issue, manage and administer services and products provided to You or others, including claims investigation, handling and settlement; • improve Our services and products e.g. training and development of Our representatives, product and service research and data analysis and business strategy development, and • make special offers of other services and products provided by Us or those We have an association with, that might be of interest to You. What Happens If You Don’t Give Us Your Personal Information? If You choose not to provide us with the information We have requested, We may not be able to provide You with Our services...
YOUR DUTY OF DISCLOSURE. Insurers must be presented with a fair and complete statement of the nature of any risk to be insured. The omission of material facts in the presentation of the risk to insurers, whether intentional or accidental, may lead to the insurance coverage being invalid. A circumstance is material if it would influence the judgement of a prudent insurer in calculating the premium or assessing whether he would accept the risk. Accordingly, at initial enquiry you must provide all the facts material to the risk to be insured. You must also tell us of any changes to these material facts and/or any new material facts between your initial enquiry and commencement of cover and during the term of the policy. This applies equally to new policies and adjustments to, or renewal of, existing policies. If you are in any doubt as to whether information is material, you should disclose it. For certain classes of business you may be required to complete and sign a proposal form or questionnaire. Take care to ensure that the information you provide is complete and accurate. Note that if you are aware of anything that you feel may be material to the proposed policy you should disclose it, even if there does not appear to be a question on the proposal form or questionnaire that covers the particular point. If you are in any doubt You will ensure that at all times you comply with all applicable laws statutes and regulations relating to anti-bribery and corruption. In particular, you shall comply with each of the Xxxxxxx Xxx 0000 of the United Kingdom, Foreign and Corrupt Practices Xxx 0000 of the United States and any other similar legislation applicable to you. In prevention of bribery, corruption, or other financial crime, additional due diligence may be carried out and further steps taken, including, where appropriate, the notification to the relevant authorities, status and credit checks using credit reference agencies, and other background checking, as deemed appropriate. Insurers require you to pay premium at, or prior to, commencement of each policy, or as otherwise specified under the policy terms, and at the date of any invoice/debit note for any adjustment premiums. Insurers may impose a time period within which the premium has to be paid. If payment is not made within that period, insurers may cancel your policy. Insurers may also require that you pay a premium in relation to the time that you have been on risk. It is therefore very important that you meet all payment date...
YOUR DUTY OF DISCLOSURE. When you apply for insurance, you have a legal duty of disclosure. This means you must tell us everything you know (or could be reasonably expected to know) that a prudent insurer would want to take into account in deciding:
YOUR DUTY OF DISCLOSURE. You must take reasonable care not to make a misrepresentation to the insurer. This means that all the answers you give and statements you make as part of your insurance application, including at renewal and when an amendment to your policy is required, should be honest and accurate. If you deliberately or carelessly misinform the insurers, this could mean that part of or all of a claim may not be paid. If you are purchasing a policy on behalf of another person, it is your responsibility to ensure that a duty of disclosure are met for each of the persons for whom cover is being purchased. It is also your obligation to ensure that each person on whose behalf insurance has been purchased is aware of the full details of the cover. We are unable to accept responsibility for loss should a claim be rejected due to the non-disclosure of a third party insured. If payment information provided relate to those of the third party and not of the policyholder, the policy will automatically renew against the third party’s payment details unless the policyholder provides alternative payment information.
YOUR DUTY OF DISCLOSURE. 1.5.1 All information supplied by you or on your behalf in connection with the application for this insurance, including any online application form, must be complete and true to the best of your knowledge and belief.
1.5.2 Your statements will be incorporated into and form the basis of this insurance. In addition you must inform us of any changes to the information provided. Change to your risk information may result in an amendment to your premium, or the terms of this insurance or both. If you have any doubt you must contact us to discuss the issue.
1.5.3 Where you have failed to comply with the terms of paragraphs 1.4.1 or 1.4.2, we may reject or reduce your claims and continue the policy on such amended terms as we may advice.
YOUR DUTY OF DISCLOSURE. Before You enter into an insurance contract with Us, the Insurance Contracts Act 1984 requires You to provide Us with the information We need to enable Us to decide whether and on what terms Your proposal for insurance is acceptable and to calculate how much premium is required for Your insurance. The Act imposes a different duty the first time You enter into the policy with Us to that which applies when You vary, renew, extend, reinstate or replace Your policy. We set these duties out below. Your duty of disclosure when you enter this policy with us for the first time. You will be asked various questions when You first apply for this policy. When You answer these questions, You must:
YOUR DUTY OF DISCLOSURE. RESPONSIBILITIES
