This policy is issued by BMS Risk Solutions Pty Ltd (BMS) ABN 45 161 187 980, AFSL 461594 under a binder agreement with Certain Underwriters of Lloyd's. Your Duty of Disclosure
Before entering into a contract of general insurance with us, the insured has a duty, under the Insurance Contracts Act 1984, to disclose to us every matter which the insured knew, or could reasonably be expected to know, is relevant to our decision whether to accept the risk of the insurance and, if so, on what terms. The insured has the same duty to disclose those matters to us before you renew, extend, vary or reinstate a contract of insurance. The duty of the insured does not, however, require disclosure of a matter:
- that diminishes the risk to be undertaken by us
- that is common knowledge
- that we know, or in the ordinary course of business as an insurer, ought to know as to which compliance with the insured’s duty is waived by us.
If the insured fails to comply with its 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 the insured’s non-disclosure is fraudulent, we may also have the option of avoiding the contract from the beginning. Binder Agreement
This policy is transacted under a Binder Agreement. When acting under a binder BMS is acting as agent of the insurer and not as your agent. Please also take this opportunity to read the provided Financial Services Guide
. General Advice Warning
Any general advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, please consider its appropriateness. You should also consider our disclosure documents, which include our Financial Services Guide (FSG) and Product Disclosure Statements (PDS) for some products. Documents
Please also take this opportunity to read the following important documents:
To the extent that there is any inconsistency between the terms of the policy and the FSG provided to you by BMS, the terms of the policy will prevail.