NIBA's weekly e-newsletter, Broker Buzz, is packed with the latest industry and product news, regulatory updates, forthcoming events and seminars.
The Aviation Legislation Amendment (Liability and Insurance) Act 2020 is now in effect. The Act, which was passed by parliament late last year, and came into effect on Thursday 17th June makes a number of amendments to both the Air Accidents (Commonwealth Government Liability) Act 1963 and the Civil Aviation (Carriers’ Liability) Act 1959.
Most importantly for our members, the new legislation amends the limitations of liability, in the event of death, injury and destruction or loss of baggage and amends requirements in relation to acceptable contracts of insurance. Brokers will need to be aware of these new limits when arranging aviation liability insurance.
A copy of the Act can be accessed here
Key information for brokers and insurers regarding LOA's and LARQ's
The NSW Government has announced a new Personal Injury Commission has begun operations
The Insurance Council of Australia (ICA) has welcomed the commencement of proceedings in the Federal Court of Australia to test the application of further issues in relation to pandemic coverage in business interruption policies
The Insurance Council of Australia has revealed that insurers have paid $3.85 billion to customers affected by last summer’s natural disasters including bushfires, floods and hailstorms.