Claim Failures, Disputes and Official Sources
Official sources for business liability insurance in Australia
Where to check the facts on business insurance in Australia: ASIC, APRA, AFCA, the ATO, state revenue offices, workers compensation regulators, WHS bodies and legislation.
The official sources that matter most for Australian business liability insurance are ASIC (conduct of insurers and brokers, claims handling, licences), APRA (which insurers are authorised), AFCA (complaints), the ATO (GST and deductions), your state or territory revenue office (stamp duty), your workers compensation regulator, the Federal Register of Legislation (Insurance Contracts Act 1984 and related laws), and the ACCC (Australian Consumer Law and product safety). This directory explains what to check at each and when.
This guide is part of the liability claim mistakes overview. Links go to homepages; use each site's search for the topic. For how these sources come together in a dispute, see non-disclosure and claims and common liability exclusions.
Regulators and complaints bodies
| Body | What it does | Check it when |
|---|---|---|
| ASIC | Regulates conduct of insurers, brokers and claims handlers; issues Australian financial services licences; publishes regulatory guides such as RG 271 on internal dispute resolution | Checking a broker's licence on the professional registers, understanding claims handling rules |
| APRA | Prudentially regulates and authorises general insurers | Confirming an insurer is authorised to carry on insurance business in Australia |
| AFCA | Free external dispute resolution for individuals and small businesses | A complaint is not resolved through the insurer's process; see AFCA complaints |
| ACCC | Enforces the Australian Consumer Law, including unfair contract terms and manufacturer liability | Reviewing contract terms, product liability and consumer guarantees |
| Product Safety Australia | Mandatory standards, bans, recalls and mandatory injury reports | Importing or selling consumer goods; see product liability for importers |
| OAIC | Privacy Act and the Notifiable Data Breaches scheme | Assessing cyber risk and data breach obligations |
| Australian Small Business and Family Enterprise Ombudsman | Assistance and information for small businesses in disputes | Contract, lease and dispute support |
Tax: GST, duty and deductions
| Body | What to check |
|---|---|
| Australian Taxation Office | GST on premiums, input tax credits, deductibility of premiums and interest, prepayment rules for small business entities |
| Revenue NSW | NSW insurance duty and emergency services levy arrangements |
| State Revenue Office Victoria | Victorian insurance duty |
| Queensland Revenue Office | Queensland insurance duty |
| RevenueSA | South Australian insurance duty |
| RevenueWA | Western Australian insurance duty (search for RevenueWA on the WA Government site) |
| State Revenue Office Tasmania | Tasmanian insurance duty |
| Northern Territory Treasury | Territory Revenue Office and NT insurance duty |
| ACT Revenue Office | ACT tax arrangements (insurance duty abolished) |
For the arithmetic, see GST and stamp duty on business insurance and the GST and stamp duty split calculator.
Workers compensation and WHS
| Jurisdiction | Workers compensation | WHS regulator |
|---|---|---|
| NSW | icare and SIRA | SafeWork NSW |
| Victoria | WorkSafe Victoria | WorkSafe Victoria |
| Queensland | WorkCover Queensland | WorkSafe Queensland |
| South Australia | ReturnToWorkSA | SafeWork SA |
| Western Australia | WorkCover WA | WorkSafe WA |
| Tasmania | WorkSafe Tasmania | WorkSafe Tasmania |
| Northern Territory | NT WorkSafe | NT WorkSafe |
| ACT | WorkSafe ACT and the ACT scheme regulator | WorkSafe ACT |
| National | Safe Work Australia | Develops model WHS laws and links to every regulator |
See compulsory business insurance for who must hold workers compensation.
Legislation
The Federal Register of Legislation has the current versions of Commonwealth laws, including:
- Insurance Contracts Act 1984: disclosure (s 21), remedies (s 28), claims-made notification (s 40), post-contract acts (s 54), cancellation (ss 59–63). See the Insurance Contracts Act and business policies.
- Insurance Act 1973: authorisation and prudential regulation of general insurers.
- Corporations Act 2001: financial services licensing, Financial Services Guides and claims handling as a financial service.
- ASIC Act 2001: unfair contract terms in financial products, including insurance.
- Competition and Consumer Act 2010, Schedule 2: the Australian Consumer Law.
- Privacy Act 1988: privacy obligations and the Notifiable Data Breaches scheme.
State civil liability laws, such as the Civil Liability Act 2002 (NSW), the Wrongs Act 1958 (Vic) and the Civil Liability Act 2003 (Qld), are on each state's legislation website, for example NSW Legislation.
Industry codes and bodies
| Body | What to check |
|---|---|
| Insurance Council of Australia | General Insurance Code of Practice, its scope and claims timeframes |
| National Insurance Brokers Association | Insurance Brokers Code of Practice |
| Professional Standards Councils | Professional standards schemes that cap liability for members |
| Tax Practitioners Board | PI insurance requirements for tax and BAS agents |
| Ahpra | PI registration standards for health practitioners |
General guidance
- business.gov.au: plain-language guidance on business insurance types, risk management and contractors.
- ASIC Moneysmart: general guidance on insurance, excesses and loans, mainly for individuals but useful for sole traders.
- Australian Cyber Security Centre: small business cyber security guides, relevant to cyber insurance conditions.
How to use these sources well
- Check the date. Rates and rules change; look for the "last updated" date on the page.
- Use the primary source. For a duty rate, use the revenue office, not a quote website.
- Confirm licences and authorisations before paying a broker or insurer you do not know.
- Keep copies of the pages you relied on in case of a dispute.
- Ask a professional when the answer depends on your contract or facts.
Frequently asked questions
How do I check that an insurer is legitimate?
Search APRA's register of authorised general insurers and check that the broker or platform holds an AFSL or is an authorised representative on ASIC's registers.
Where do I find my state's stamp duty rate?
On your state or territory revenue office website, under insurance duty.
Who regulates insurance brokers?
ASIC, through the Australian financial services licensing regime. Many brokers also subscribe to the Insurance Brokers Code of Practice.
Is there a government body that compares insurers?
No official body ranks business insurers. Use the comparison table to compare cover types and get quotes for the same cover.
Sources
- ASIC — regulator of insurance conduct
- APRA — authorised insurers
- AFCA — external dispute resolution
- Federal Register of Legislation — Commonwealth legislation
