Financial Sector Reform (Hayne Royal Commission Response) (2021 Measures No. 1) Regulations 2021 (F2021L00127)

Schedule 2   Claims handling and settling services

Corporations Regulations 2001

1   After regulation 7.1.04CA

Insert:

7.1.04CB When providing certain claims handing and settling services is not the primary part of a business

For the purposes of paragraph 761DA(2)(b) of the Act, circumstances in which a person's provision of claims handling and settling services on behalf of one or more insurers is taken not to be the primary part of a business carried on by the person are when those services are:

(a) investigating the validity of claims under insurance products, or providing assistance in relation to such investigations; or

(b) assessing the extent of insurers' liabilities to other persons under insurance products under which claims are made, or providing assistance in relation to such assessments.