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Administered by: Treasury
Published Date 24 Mar 2020

 

Notice varying conditions on Authorisation to carry on insurance business in Australia

Insurance Act 1973

To:    Lawcover Insurance Pty Limited, ABN 15 095 082 509 (the company)

Level 13, 383 Kent Street, Sydney NSW 2000

 

SINCE

 

A.    APRA issued to the company an Authorisation to carry on insurance business in Australia under subsection 12(1) of the Insurance Act 1973 (the Act), on 13 April 2004 (the Authorisation); and

  1. The Authorisation is subject to a conditions

 

I, Brandon Kong Leong Khoo, a delegate of APRA, under paragraph 13(1)(b) of the Act, vary the conditions imposed on the Authorisation in the manner specified in the attached Schedule.

 

Dated: 17 March 2020

 

[Signed]

 

Brandon Kong Leong Khoo    

Executive Director

Insurance Division

 

 

Interpretation

 

Act means the Insurance Act 1973.

APRA means the Australian Prudential Regulation Authority.

insurance business has the meaning given in subsection 3(1) of the Act

.

Schedule – the conditions on Authorisation

 

The existing condition which is to be varied:

 

  • The company is authorised to carry on insurance business only for the purpose of providing professional indemnity insurance to lawyers, law practices (including multi-disciplinary partnerships), legal service providers and those connected with the provision of legal services.

 

The condition as varied is:

 

  • The company is authorised to carry on insurance business only for the purpose of undertaking liability under contracts of insurance issued to lawyers, law practices (including multi-disciplinary partnerships), legal service providers and those connected with the provision of legal services.

 

 

Notes:

 

The above condition as varied is the only condition on the company’s Authorisation