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

Schedule 2   Claims handling and settling services

Corporations Regulations 2001

5   After regulation 7.6.01

Insert:

7.6.01AAAA Need for Australian financial services licence: prescribed insurance products in relation to claimant intermediaries

For the purposes of subparagraph 911A(2)(ek)(vi) of the Act, general insurance products are prescribed.

7.6.01AAAB Need for Australian financial services licence: issuers of insurance products

For the purposes of subparagraph 911A(2)(el)(ii) of the Act, the following issuers of insurance products are prescribed:

(a) Lloyd's underwriters (within the meaning of the Insurance Act 1973);

(b) unauthorised foreign insurers (within the meaning of the Insurance Regulations 2002).