DUTY OF DISCLOSURE
Before you enter into a contract of general insurance with an Insurer that is not a consumerinsurance contract, you have a Duty, under the Insurance Contracts Act 1984, to disclose to theInsurer every matter that you know, or could reasonably be expected to know, that is relevant to theInsurer's decision whether to accept the risk of the insurance, and, if so, on what terms. You havethe same Duty to Disclose those matters to the Insurer before you renew, extend, vary or reinstate acontract of general insurance.
Your Duty, however, does not require you to disclose anything that:
reduces the risk to be undertaken by the Insurer;
is of common knowledge;
your Insurer knows, or in the ordinary course of its business, ought to know; or
if the Insurer has waived the obligation to disclose.
NON-DISCLOSURE
If you fail to comply with your Duty, the Insurer may be entitled to reduce its liability underthe contract in respect of a claim, or may cancel the contract. If your non-disclosure is fraudulent,the Insurer may also have the option of avoiding the contract from its beginning.