Thursday, May 23, 2013
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Types of Insurance Covered
Types of Insurance Covered
Nearly all types of general insurance, from house insurance and travel insurance to business insurance are included in the Code of Practice.
The only types of general insurance that are not covered by the Code are reinsurance (insurance for insurers) and insurance that has specific rules under government statute, like;
Compulsory Third Party Insurance (CTP)
Workers' Compensation
Marine Insurance and
Medical Indemnity Insurance
Some examples of general insurance covered by the Code of Practice include:
Aircraft
Bond
Business
Cyber Risk
Farm, Crop and Livestock
Motor Vechicle
Construction
Consumer Credit
Defamation
Engineering
Extended Warranty
General Property, Home and Contents
Home Warranty and Lenders Mortgage
Travel
Public and Products Liability
Product Recall
Strata
Professional Indemnity
Life and Health insurance are also not included as these have their own Code of Practice and are governed under different regulations.