South Australian Current Acts South Australian Current Acts (1) In this Act—
"company" includes corporation and society (whether incorporated or
unincorporated);
"firm" includes an association of underwriters carrying on marine
insurance business through a managing underwriter solely;
"general insurer" means an insurer who carries on insurance business in
respect of insurance that is not life insurance;
"insurance" includes assurance;
"insurance business" means—
(a) the
granting or issuing of life, personal accident, fire, fidelity, guarantee,
livestock, plate glass, marine or other insurance; or
(b) the
acceptance, either directly or indirectly, of any premium, renewal premium or
consideration for, or in respect of, the granting or issuing or keeping alive
or in force of life, personal accident, fire, fidelity, guarantee, livestock,
plate glass, marine or other insurance; or
(c) the
receiving of a letter or declaration of interest attaching to a
policy of insurance issued in this State or elsewhere; or
(d) the
carrying out, by means of insurance effected out of this State, of a contract
or undertaking to effect insurance, whether formal or informal and whether
express or implied;
"insurer" means a company, person or firm that carries on insurance business;
"life insurance" means insurance of a contingency that is dependent on the
duration of human life, but does not include personal accident insurance;
"life insurer" means an insurer who carries on insurance business in respect
of life insurance;
"multi-peril crop insurance" means insurance covering the total or partial
loss of crops resulting from drought (whether or not the policy under which
the insurance is provided also covers loss resulting from other perils);
"personal accident insurance" means—
(a)
insurance covering personal accident or workers compensation; or
(b)
insurance under a policy complying with Part 4 of the Motor Vehicles
Act 1959 ; or
(c)
insurance in respect of trauma or a disabling or incapacitating injury,
sickness, condition or disease;
"policy" includes an instrument in the nature of a policy, an open policy, an
insurance cover or an instrument in any manner covering insurance;
"premium" means an amount paid or payable for insurance and includes—
(a) an
amount charged to a policy holder to reimburse, offset or defray the insurer's
liability for GST in respect of the insurance; and
(b) a
levy charged to a policy holder; and
(c) an
instalment of premium; and
(d) a
part of a premium;
"registered" means registered under this Division.
(2) If a provision of
this Division refers to a premium paid, payable, received, charged or credited
in relation to life insurance, or in relation to insurance of another kind,
the reference is to be taken to be a reference to the premium to the extent
that it was or is paid, payable, received, charged or credited in relation to
insurance of the kind referred to in the provision.
Subdivision 2—Registration and payment of duty