Speciality Risk - Duty of Disclosure

Speciality Risk - Duty of Disclosure Pixabay 210489

Combined  Professional Indemnity and Public & Products Liability Insurance

Two Pages from thisl document: 2014_policy_wording_effective_1st_Dec_2014.pdf

IMPORTANT INFORMATION Please read the following information

A. Your Duty of Disclosure

Before you enter into a contract of general insurance with an insurer, you have a duty, under the Insurance Contracts Act 1984, to disclose to Us every matter that you know, or could reasonable be expected to know, is relevant to Our decision whether to accept the risk of insurance, and if so, on what terms.

You have the same duty to disclose those matters to Us before you renew, extend, vary or reinstate a contract of general insurance.

Your duty, however, does not require disclosure of any matter:

  • that diminishes the risk to be undertaken by Us;

  •  that is of common knowledge;
  •  that your insurer knows or, in the course of his business, ought to know;  as to which compliance with your duty is waived by Us.


If you fail to comply with your duty of disclosure, We may be entitled to reduce Our liability under the contract in respect of a claim, or may cancel the contract.

If your non-disclosure is fraudulent, We may also have the option of avoiding the contract from its beginning.

B. Subrogation Agreements

Where another person would be liable to compensate you for any loss or damage otherwise covered by the insurance, but you have agreed with that person either before or after the loss or damage occurred that you would not seek to recover any monies from that person, We will not cover you under the insurance for such loss or damage.

Berkley Insurance Australia
A.B.N.53 126 559 706 Medicines 1 - 2014

C. Underinsurance

Your property is insured for reinstatement and replacement costs and as such the insured amounts should represent the full replacement value at new costs. If this is not done any claim you make for these costs may not be paid in full.

D. Privacy Statement

The Privacy Act 1988 (as amended) applies to this insurance and requires us to advise you that:

Purpose of collection

We collect personal information (this is information or an opinion about an individual whose identity is apparent or can reasonable be ascertained and which relates to a natural living person) for the purposes of:

  •  providing insurance services to you;

  •  evaluating your application;

  •  evaluating any request for changes to any insurance provided;

  •  issuing administering and managing the insurance provided after acceptance of an application;

  • investigating and, if covered, managing claims made in relation to any insurance you have with us.

    The personal information collected can be used or disclosed by us for secondary purposes related to those purposes listed above, but only if you would expect us to use or disclose the information for such secondary purpose. However, for sensitive information the secondary purpose must be directly related to the purposes listed above.


When necessary and in connection with the purposes listed above We may disclose your personal information to and/or receive information from other companies within the same group, your insurance broker or our agent, government bodies, loss assessors, claim investigators, reinsurers, other insurance companies, mailing houses, claims reference providers, other service providers, hospitals, medical and health professionals, legal and other professional advisers.

Consequences if information is not provided

If you do not provide us with the information We need We will be unable to consider your application for insurance cover, administer your policy or manage any claim under your policy.


You may request access to the personal information We hold about you by contacting Us at the address shown.

Contact Details

You should firstly contact the insurance intermediary that you purchased this policy through in relation to any issues concerning this policy. However if needed we can be contacted as follows:

Berkley Insurance Australia
Level 23, St Martins Tower
31 Market Street

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Web site: www.berkleyinaus.com.au

Last modified on Wednesday, 18 May 2016 20:07