An application by the plaintiff, the Australian Securities and Investments Commission (ASIC), for declaratory relief in respect of alleged breaches by the defendant insurer of the duty of utmost good faith, in contravention of s 13 of the Insurance Contracts Act 1984 (Cth). Those allegations relate to the insurer’s handling of a particular claim under a home building and contents insurance policy after a severe hail storm caused widespread damage in the region of the insured’s property. In particular, ASIC alleges the insurer failed to handle the insured’s claim with full and frank disclosure, fairness, and in a timely matter. In circumstances where the defendant insurer had made appropriate formal concessions as to its conduct and the legal consequences thereof, the primary question in issue concerned the appropriate form of declaratory relief.
Nola Pearce appeared (with J McKenna QC) for the Defendant, instructed by King & Wood Mallesons.
The judgment is published here.