“general insurance” means any kind of insurance that is applicable
to— (a) property in the
Territory; or
(b) a risk,
contingency or event concerning an act or omission that, in the normal course
of events, may occur within, or partly within, the Territory;
or
both, but does not include life insurance, a life insurance rider or insurance
that is exempt from duty by virtue of Part VI;
“general insurer”
means a person— (a) who
writes general insurance otherwise than as an insurance intermediary; and
(b) who is registered under the
Insurance Act 1973 of the Commonwealth;
“insurer” means a life
company that writes life insurance or a general insurer;
“life
insurance” means insurance described in paragraphs 9 (1) (a) to (g)
(inclusive) and section 9A of the Life Insurance Act 1995 of the Commonwealth
in respect of— (a) a life or
lives; or
(b) any event or
contingency relating to or depending on a life or lives;
of a
person whose principal place of residence is, or persons whose principal
places of residence are, in the Territory at the time the policy that effects
the insurance is issued;
“life insurance rider” means insurance
that— (a) is attached to a
policy of life insurance;
(b) adds
specified events and contingencies to those insured under the policy; and
(c) is subject to the terms and
conditions of the policy;
“premium”, in relation to general
insurance, means the total consideration given to an insurer by or on behalf
of the insured person to effect insurance without deductions for any amounts
paid or payable, or allowed or allowable, by way of commission or discount to
an insurance intermediary and includes any amount charged in respect of a levy
paid or payable under the Insurance Levy Act 1998 in connection with insurance
by an insurer or any other person but does not include—
(a) an amount paid to an insurance intermediary by
the insured person as a fee, provided that the amount can be clearly
identified as a fee; or
(b) an
amount of duty under this or a corresponding Act;
“third party
insurance” means insurance effected for the purpose of, and in
accordance with the requirements of, a law of the Territory or a State or
another Territory relating to the compulsory insurance of owners and drivers
of motor vehicles, as defined by that law, against liability in respect of the
death of, or bodily injury to, persons caused by or arising out of the use of
motor vehicles.
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Australian Capital Territory Numbered Acts