Section 948B — Corporations Act 2001 (Cth)

This Division applies in relation to the provision of a claims handling and settling service in the following circumstances:

(a) the service is offering to settle all or part of a claim under a general insurance product using a cash payment;

(b) the service is provided:

(i) by a financial services licensee (the providing entity); or

(ii) by a person (the providing entity) in their capacity as authorised representative of a financial services licensee (the authorising licensee), or of 2 or more financial services licensees (the authorising licensees); or

(iii) by another person on behalf of a financial services licensee (the providing entity), or on behalf of 2 or more financial services licensees (each of which is a providing entity);

(c) the service is provided to a person (the client) as a retail client who is insured under the insurance product;

(d) cash payment is not the only option legally available to the client to settle the claim, or the part of the claim.

Related sections

• s 947D — Additional requirements when advice recommends replacement of one product with another
• s 947E — Statement of Advice not to be combined with Financial Services Guide or Product Disclosure Statement
• s 948A — Qualified privilege if providing entity complies with this Division
• s 948C — Obligation to give client a Cash Settlement Fact Sheet
• s 948D — Timing for giving a Cash Settlement Fact Sheet
• s 948E — Title of Cash Settlement Fact Sheet

Research how courts apply s 948B

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.