Commonwealth Consolidated Acts

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APRA must determine insurer's liability in respect of claim

             (1)  If APRA becomes aware that a person has, in the period described in paragraph 62ZZF(1)(b), made a claim under insurance cover provided under a protected policy of a kind referred to in paragraph 62ZZF(1)(a), APRA must determine in accordance with the policy:

                     (a)  whether the insurer is liable to the person in respect of the claim; and

                     (b)  the amount of that liability (if any).

          (1A)  Without limiting subsection (1), the amount of the liability (if any) determined under subsection (1) may be an amount agreed to by APRA and the person.

             (2)  The determination must be made in writing as soon as reasonably practicable after APRA becomes aware that the claim has been made.

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