{"id":"nsw:sl-2024-0383","name":"Insurance Regulation 2024","slug":"insurance-regulation-2024","collection":"regulation","jurisdiction":"nsw","status":"in_force","isInForce":true,"actNumber":"383 of 2024","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":174328,"registerId":"nsw-sl-2024-0383-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Name of regulation","content":"#### 1 Name of regulation\n\n1 Name of regulation\n\n> This regulation is the [Insurance Regulation 2024](/view/html/inforce/current/sl-2024-0383).","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n2 Commencement\n\n> This regulation commences on the day on which it is published on the NSW legislation website.\n> \n> Note—\n> \n> This regulation repeals and replaces the [Insurance Regulation 2019](/view/html/repealed/current/sl-2019-0389), which would otherwise be repealed on 1 September 2024 by the [Subordinate Legislation Act 1989](/view/html/inforce/current/act-1989-146), section 10(2).","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Definition","content":"#### 3 Definition\n\n3 Definition\n\n> In this regulation—\n> \n> the Act means the [Insurance Act 1902](/view/html/inforce/current/act-1902-049).\n> \n> Note—\n> \n> The Act and the [Interpretation Act 1987](/view/html/inforce/current/act-1987-015) contain definitions and other provisions that affect the interpretation and application of this regulation.","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Exemption of certain contracts of insurance—the Act, s 21","content":"#### 4 Exemption of certain contracts of insurance—the Act, s 21\n\n4 Exemption of certain contracts of insurance—the Act, s 21\n\n> For the Act, section 21(1)(b)—\n> \n> > (a) contracts of marine insurance and contracts of life insurance are exempt from the operation of the Act, sections 18, 19 and 20, and\n> \n> > (b) contracts of insurance subject to the [Insurance Contracts Act 1984](http://www.legislation.gov.au/) of the Commonwealth are exempt from the operation of the Act, sections 18, 18A, 18B and 19, and\n> \n> > (c) contracts of reinsurance are exempt from the operation of the Act, sections 18, 18A, 18B and 19.\n> \n> Note—\n> \n> See the Act, section 21(2) for other exemptions.","sortOrder":3},{"sectionNumber":"5","sectionType":"section","heading":"Repeal and savings","content":"#### 5 Repeal and savings\n\n5 Repeal and savings\n\n> > (1) The [Insurance Regulation 2019](/view/html/repealed/current/sl-2019-0389) is repealed.\n> \n> > (2) An act, matter or thing that, immediately before the repeal of the [Insurance Regulation 2019](/view/html/repealed/current/sl-2019-0389), had effect under that regulation continues to have effect under this regulation.","sortOrder":4}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The regulation maintains its original narrow purpose: exempting specific insurance contract types from the Insurance Act 1902. The 2024 version appears to be a straightforward re-enactment (likely to reset the automatic repeal timer under the Subordinate Legislation Act 1989) with no expansion of substantive scope."},"complexity_factors":["Extremely short: only 5 operative sections","Minimal defined terms: only 'the Act' is defined in the regulation itself (section 3)","No nested conditional logic or exceptions to exceptions","Simple cross-referencing: only refers to specific sections of the parent Act and one Commonwealth statute","Straightforward repeal and replacement structure with standard savings provision","No schedules, tables, or elaborate machinery provisions"],"plain_english_summary":"**What this regulation does:**\n\nThis is a short, technical regulation made under New South Wales' **Insurance Act 1902**. Its main job is to **exempt certain types of insurance contracts from specific rules** in that Act.\n\n**Who it affects:**\n\n- **Marine and life insurers** – their contracts don't have to follow sections 18, 19 and 20 of the Insurance Act 1902\n- **Insurers covered by Commonwealth law** – specifically those subject to the federal *Insurance Contracts Act 1984* (a national law that already regulates insurance contracts). These contracts are exempt from sections 18, 18A, 18B and 19 of the NSW Act\n- **Reinsurers** (companies that insure other insurance companies) – their contracts are also exempt from sections 18, 18A, 18B and 19\n\n**Why it matters:**\n\nThis regulation prevents **double regulation**. Without these exemptions, insurance contracts could be caught by both NSW rules *and* Commonwealth rules (or other specialised regimes), creating confusion and extra compliance costs. It ensures that:\n- Marine and life insurance operate under their own established frameworks\n- Contracts already regulated by federal law aren't also micromanaged by NSW\n- Reinsurance (a specialised back-end industry) isn't burdened by consumer-protection style rules designed for direct insurance\n\nThe regulation also **repeals and replaces** the 2019 version of itself, with savings provisions to ensure nothing falls through the cracks during the changeover."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"The regulation repeals and replaces the 2019 regulation but preserves existing effects (see section 5(2)) and sets out exemptions consistent with the Act (section 4). It primarily restates and continues prior exemptions and timing (section 2), rather than expanding the scope of regulation."},"complexity_factors":["Short, narrowly framed instrument with few substantive clauses.","Multiple cross-references to other statutes (Insurance Act 1902; Insurance Contracts Act 1984; Interpretation Act 1987; Subordinate Legislation Act 1989), requiring users to consult those Acts for full effect.","Exemptions operate by reference to specific sections of the Act rather than restating rules, which requires cross-checking.","Repeal and savings clause (preserves prior effects) creates continuity that must be checked against the repealed regulation.","Immediate commencement on publication affects timing and operational readiness for affected parties."],"plain_english_summary":"This regulation repeals the Insurance Regulation 2019, takes effect on publication, and preserves any legal effects that existed under the 2019 regulation. It restates which contracts are exempt from parts of the Insurance Act 1902.\n\nSpecifically, marine and life insurance, contracts covered by the Commonwealth Insurance Contracts Act 1984, and reinsurance are carved out from specified state-law duties. That changes which state statutory obligations apply to certain insurers and policyholders and therefore alters compliance responsibilities."},"summary":{"complexity_score":1,"scope_assessment":{"changed":false,"description":"Scope cannot be assessed as the substantive content of the regulation was not included in the provided text. Only administrative metadata, status information, and website navigation elements were available for review."},"complexity_factors":["Only metadata and website navigation elements were provided — no substantive legislative content is present","Cannot assess true complexity without the actual text of the regulation","Score of 1 reflects absence of content to analyse, not simplicity of the law itself"],"plain_english_summary":"This NSW regulation, made under the Insurance Act, came into force on 16 August 2024 and is scheduled for automatic repeal on 1 September 2029. It governs some aspect of insurance law in NSW and therefore may affect insurers, brokers, policyholders or businesses regulated under that regime.\n\nNote: the substantive text wasn’t provided, so the exact obligations, rights or changes introduced cannot be determined from the available metadata."}},"importantCases":[],"_links":{"self":"/api/acts/insurance-regulation-2024","history":"/api/acts/insurance-regulation-2024/history","analysis":"/api/acts/insurance-regulation-2024/analysis","conflicts":"/api/acts/insurance-regulation-2024/conflicts","importantCases":"/api/acts/insurance-regulation-2024/important-cases","documents":"/api/acts/insurance-regulation-2024/documents"}}