Product Disclosure Statement not required for offers of bundled contracts of insurance
7.9.07D Product Disclosure Statement not required for offers of bundled contracts of insurance
For paragraph 1020G(1)(c) of the Act, section 1012D of the Act is modified by adding before subsection 1012D(10):
‘(9G) In an issue situation or a sale situation, the regulated person does not have to give the client a Product Disclosure Statement for a financial product if:
the financial product is a general insurance product; and
the product would be provided to the person as a retail client; and
the financial product would be provided as part of a contract of insurance that offers more than one kind of insurance cover; and
the regulated person reasonably believes that the client does not intend to acquire the product.
This Act’s bill:Explanatory statement
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