Section 948B — Corporations Act 2001: Situation in which this Division applies

This Division applies in relation to the provision of a claims handling and settling service in the following circumstances: (a) the service is offering to settle all or part of a claim under a general insurance product using a cash payment; (b) the service is provided: (i) by a financial services licensee (the providing entity); or (ii) by a person (the providing entity) in their capacity as authorised representative of a financial services licensee (the authorising licensee), or of 2 or more financial services licensees (the authorising licensees); or (iii) by another person on behalf of a financial services licensee (the providing entity), or on behalf of 2 or more financial services licensees (each of which is a providing entity); (c) the service is provided to a person (the client) as a retail client who is insured under the insurance product; (d) cash payment is not the only option legally available to the client to settle the claim, or the part of the claim.