I cannot believe the audacity of Gillard to be standing there accusing the insurance companies ( dont get me wrong the insurance companies have a lot to answer for ) of wrongdoing when all so quietly in the background new legislation was passed in regards to the unfair contracts law recently. You are probably wondering what this has to do with insurance companies? The legislation itself exempts a very few certain industries.. and can anyone guess which business's are exempt from the new unfair contracts law? You guessed it insurance companies ( I have taken a section from the legislation below )
"There are also contracts for certain goods or services that this law does not apply to, including:
Most insurance contracts, such as car insurance, home and contents insurance and consumer credit insurance contracts (which may be covered under the Insurance Contracts Act 1984). However, some insurance contracts, including private health insurance, are covered by the new law. Constitutions, including the constitutions of many superannuation"
Insurance + consumer credit excluded. Hmmm, am i wrong here in suggesting that those two areas should have been number one on the list of business's that SHOULD have been covered by the unfair contracts law?
The full details of the legislation can be seen here:
