1. 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 the insurer every matter that you know, or could reasonably be expected to know, that is relevant to the insurer's decision whether to accept the risk of the insurance, and if so on what terms. You have the same duty to disclose those matters to the insurer before you renew, extend, vary, or reinstate a contract of general insurance.

Your duty does not require disclosure of any matter:

• that diminishes the risk to be undertaken by the insurer,
• that is of common knowledge,
• that your insurer knows or, in the ordinary course of its business, ought to know, or
• as to which compliance with your duty is waived by the insurer.

2. Non-Disclosure

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

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

3. Claims Made Insurance

This policy may have an Errors and Omissions section. If selected, cover is placed on a claims made basis.
This means that claims first advised to you, or made against you, and reported to your insurer during the
period of insurance are recoverable irrespective of when the incident causing the claim occurred, subject
to any applicable retroactive date.

Under Section 40(3) of the Insurance Contracts Act 1984, if you give written notice to the insurer of facts
that might give rise to a claim against you as soon as is reasonably practicable after you become aware of
those facts, but before the policy expires, then the insurer is not relieved of liability for the claim, when made,
only because it was made after the expiration of the period of insurance.

4. Retroactive Liability

The policy may be limited by a retroactive date stated in the schedule. The policy does not provide cover for any claim arising from any actual or alleged act, error, omission, or conduct that occurs before the commencement of the policy, unless retroactive liability cover is extended by underwriters.

5. Liability Assumed Under Agreement

Liability insurance provided by this policy does not cover liability that you have agreed to accept, unless you would have been liable in the absence of such agreement.

6. Utmost Good Faith

In accordance with Section 13 of the Insurance Contracts Act 1984 (Cth), the policy of insurance is based on utmost good faith, requiring underwriters and the proposer or insured to act toward each other with the utmost good faith in respect of any matter relating to the insurance contract.

Your duty of disclosure also applies when you seek to renew, extend, alter, or reinstate a policy.

If you are unsure whether information needs to be disclosed, please contact our office.