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Double insurance: the effect of “other insurance” clauses

Online Published Date : 08 May 2020 | Appeared in issue: Vol 32 No 5 - 08 May 2020

In Allianz Insurance Australia Ltd v Certain Underwriters at Lloyd’s of London [2019] NSWCA 271 the New South Wales Court of Appeal has reversed the first instance decision of Rees J, discussing a question unresolved in England, namely, whether a policy which is stated to be in excess of any other insurance in place responds to a claim where the other policy excludes cover in the event of other insurance.

Life insurance: cooling-off period

Online Published Date : 08 May 2020 | Appeared in issue: Vol 32 No 5 - 08 May 2020

The Insurance Conduct of Business Rules (ICOBS), implementing the Solvency II Directive 2009, provide for a 14-day cooling off period during which the policy may be cancelled for any reason. The insurer is under an obligation to inform the assured of the right of cancellation, and the time for cancellation runs from the date on which the assured is informed of the right to cancel.