Duty of Disclosure

Before the University enters into a contract of general insurance with an insurer, it has a duty, under the Insurance Contracts Act 1984, to disclose to the insurer every matter that it knows, 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.

The University has the same duty to disclose those matters to the insurer before it renews, extends, varies or reinstates a contract of general insurance and otherwise on an ongoing basis.

The University Insurance Office must be advised when the University:

  • Acquires a new company; enters into a merger, joint venture or partnership; or sells/disposes of a subsidiary company.
  • Purchases, constructs or occupies new premises; vacates, or demolishes existing premises;
  • Has a major increase in the values of its buildings or contents;
  • Engages in additional activities outside the scope of normal activities;
  • Engages in any new projects where staff or students are giving advice upon which a third party will rely;
  • Purchases or disposes of any registered motor vehicles (including plant and aircraft);
  • Installs significant items of plant, machinery or equipment (>$1m), or introduces hazardous storage;
  • Alters, modifies or disconnects fire or burglary protection systems;
  • Introduces new programs of study (slight changes to program structures need only be reported annually as part of the insurance questionnaire, however any major changes or introduction of new teaching streams need to be reported to the insurance office on an ongoing basis);
  • Intends to establish or extend overseas operations or export of products or intends to conduct any business in the USA or Canada (see clause 3.7 for more information);
  • Intends to sign any agreement or contract which gives an indemnity to another party or restricts the right of the University to recover from a third party;
  • Becomes aware of any other facts likely to affect the University's risk.

Please contact the Insurance Office if you require any clarification on whether an activity needs to be disclosed to our insurers.