Supplementary Product Disclosure Statement - WFI
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Supplementary Product
Disclosure Statement
SPDS Edition 1
Changes to Your PDS
This Supplementary Product Disclosure Statement
(SPDS) is dated 15 January 2021 and will apply to all Your PDS is amended by the following:
WFI Residential Strata Plan Product Disclosure
Statement and Policies version WFIRSPPDS 06 0521
(PDS) taken out with a new business effective date on
or after 9 July 2021, or with a renewal effective date on Change 1 – Calculating Your
or after 9 July 2021.
premium
The information in this SPDS updates and should be
read with the PDS and any other applicable SPDS. Your PDS is amended by inserting the following
new paragraph in ‘The cost of Your insurance’
section on page 4 within the ‘Important
information’ section of the PDS:
Your premium, including any discounts You may be
eligible for, are subject to minimum premiums. We
consider the minimum amount We are prepared to sell
the policy for and may adjust Your premium to ensure it
does not fall below the minimum amount. Any discounts
will be applied to Your policy, only to the extent any
minimum premium is not reached. This means that
any discount You may be eligible for may be reduced.
When We determine Your premium on renewal, We may
also limit any increases or decreases in Your premium
by considering factors such as Your previous year’s
premium amount.
Change 2 – Replacement of the Provided however that subject to all the terms,
conditions, limitations and exclusions of this policy or
‘electronic data, cyber, e-commerce’ any endorsement thereto, should Data Processing
general exclusion Media owned or operated by You suffer physical loss
or physical damage insured by this policy, then this
Your PDS is amended by deleting clause ‘4
policy will cover the cost to repair or replace the Data
electronic data, cyber, e-commerce’ on page
Processing Media itself plus the costs of copying the
11 within the ‘General exclusions’ section and
Data from back up or from originals of a previous
replacing it with the following:
generation. These costs will not include research and
engineering nor any costs of recreating, gathering or
4 cyber, data
assembling the Data. If such media is not repaired,
• any: replaced or restored the basis of valuation shall be the
cost of the blank Data Processing Media. However, this
– Cyber Loss, except that subject to all the terms,
policy excludes any amount pertaining to the value of
conditions, limitations and exclusions of this
such Data, to You or any other party, even if such Data
policy or any endorsement thereto, this policy
cannot be recreated, gathered or assembled.
covers any Damage to Property insured and any
Time Element Loss directly resulting therefrom This exclusion does not apply to Fidelity guarantee
where such Damage to Property is directly policy, Legal liability policy or Strata council members
caused by the following perils if otherwise legal liability policy.
covered under the policy:
This exclusion clause supersedes and, if in conflict with
– theft or burglary; any other wording in the policy or any endorsement
thereto having a bearing on Cyber Loss, Data or Data
– Storm, windstorm, hail, tornado, cyclone,
Processing Media, replaces that wording.
hurricane;
– fire, lightning or explosion;
– earthquake, volcanic eruption or tsunami;
– Flood, freeze or weight of snow;
– aircraft impact or vehicle impact or falling
objects;
– water damage;
– a change in temperature affecting
refrigerated goods; or
– machinery or electronic breakdown, including
collapse or explosion of pressure equipment,
which directly results from a Cyber Incident,
unless that Cyber Incident is caused by,
contributed to by, resulting from, arising out of
or in connection with a Cyber Act including, but
not limited to, any action taken in controlling,
preventing, suppressing or remediating any
Cyber Act; or
– loss, damage, liability, claim, cost, expense of
whatsoever nature directly or indirectly caused
by, contributed to by, resulting from, arising out
of or in connection with any loss of use,
reduction in functionality, repair, replacement,
restoration or reproduction of any Data,
including any amount pertaining to the
value of such Data.Change 3 – Inclusion of Provided that this exclusion will not apply to Damage to
Property insured under Building and common contents
Communicable Diseases general policy caused by the following perils, subject to all other
exclusion provisions of the policy:
Your PDS is amended by inserting the following fire, lightning, thunderbolt, aircraft or other aerial devices
additional exclusion within the ‘General or articles dropped therefrom, earthquake, tsunami,
exclusions’ section commencing on page 11: subterranean fire, volcanic eruption, Storm, tempest,
rainwater, snow, sleet, wind, hail, water, liquids or
9 communicable diseases substances discharged, overflowing or leaking from
fixed apparatus, fixed appliances, fixed pipes or other
• any actual or alleged loss, Personal Injury, Damage
systems, riots, civil commotions, strikes or locked out
to Property, loss of income, liability, cost, expense
workers or persons taking part in labour disturbances,
or any other amounts of whatever nature directly or
explosion, impact by vehicles, animals or trees or
indirectly caused by, arising from, contributed to by,
branches of trees, communication masts, towers,
resulting from, or otherwise in connection with:
antennae, satellite dishes, watercraft, meteorites, or
– disease; theft of Data solely where such theft is accompanied
by theft of the computer hardware, firmware, medium,
– a Communicable Disease or the fear or threat
microchip, integrated circuit or similar device containing
(whether actual or perceived) of a
such Data.
Communicable Disease regardless of any other
cause or event contributing concurrently or in For the avoidance of doubt “actual or alleged loss,
any other sequence thereto; Personal Injury, Damage to Property, loss of income,
liability, cost, expense or any other amounts” includes
– any disease determined to be a ‘listed human
any cost to clean up, decontaminate, disinfect,
disease’ under, or any disease in respect of
remove, replace, monitor and/or test for such
which a ‘biosecurity emergency’ or ‘human
diseases, conditions or circumstances described in
biosecurity emergency’ is declared under, the
this exclusion.
Biosecurity Act 2015 (Cth) including any
amendment, replacement, re-enactment, This exclusion does not apply to Legal liability policy
successor, equivalent or similar legislation or Strata council members legal liability policy.
including delegated legislation;
– any disease determined by the World Health
Organisation to be a Public Health Emergency of
International Concern (PHEIC);
– Highly Pathogenic Avian Influenza (HPAI) in
humans;
– rabies;
– cholera;
– any pandemic, epidemic or any other outbreak
of infectious disease; or
– any:
i. mutation of; or
ii. fear or threat (actual or perceived) of; or
iii. action taken to control or prevent or
suppress,
the diseases, conditions or circumstances
described in this exclusion.Change 4 – Inclusion of pandemic or Change 5 – Inclusion of cyber
epidemic exclusion for liability cover exclusion for liability cover
Your PDS is amended by inserting the Your PDS is amended by inserting the
following additional exclusion within the following additional exclusion within the
‘General exclusions’ section commencing ‘General exclusions’ section commencing
on page 11: on page 11:
10 pandemic or epidemic 11 cyber
• any claim arising directly or indirectly out of, caused • any liability directly or indirectly caused by or
by, contributed to by, or in connection with any: arising out of or in connection with any illegal,
unlawful, malicious or criminal act or series of
– disease determined to be a ‘listed human
related illegal, unlawful, malicious or criminal acts,
disease’ or in respect of which a ‘human
regardless of time and place, or the threat or hoax
biosecurity emergency’ is declared under the
thereof involving access to, processing of or use of
Biosecurity Act 2015 (Cth) including any
Electronic Data.
amendment, replacement, re-enactment,
successor, equivalent or similar legislation For the purpose of this exclusion only, the following
including delegated legislation; or definition applies:
Electronic Data means facts, concepts and
– outbreak of infectious disease declared as a
information converted to a form useable for
pandemic or epidemic by the World Health
communications, display, distribution, interpretation
Organisation or any Australian government or
or processing by electronic and electromechanical
Australian government agency; or
data processing or electronically controlled
– disease determined by the World Health equipment and includes programmes, software and
Organisation to be a Public Health Emergency of other coded instructions for such equipment.
International Concern (PHEIC). This exclusion does not apply to Building
This exclusion does not apply to Building and common contents policy, Machinery
and common contents policy, Machinery breakdown policy, Electronic equipment policy,
breakdown policy, Electronic equipment policy, Voluntary workers accident only policy or Fidelity
Voluntary workers accident only policy or Fidelity guarantee policy.
guarantee policy.Change 6 – Additions and revision to Data
means information, facts, concepts, code or any
General definitions other information of any kind that is recorded
1. Your PDS is amended by adding the following or transmitted in a form to be used, accessed,
additional definitions within the ‘General processed, transmitted or stored by Computer
definitions’ section commencing on page 13: Equipment.
Communicable Disease Data Processing Media
means any disease which can be transmitted by means any Property insured by this policy on which
means of any substance or agent from any organism Data can be stored but not the Data itself.
to another organism where: Time Element Loss
• the substance or agent includes, but is not means business interruption, contingent business
limited to, a virus, bacterium, parasite or other interruption or any other consequential losses
organism or any variation thereof, whether insured under this policy.
deemed living or not;
2. Your PDS is amended by deleting the
• the method of transmission, whether direct definition of ‘Computer Equipment’ on page
or indirect, includes but is not limited to, 13 within the ‘General definitions’ section and
airborne transmission, bodily fluid transmission, replacing it with the following:
transmission from or to any surface or object, Computer Equipment
solid, liquid or gas between organisms; and
means any computer, hardware, software,
• the disease, substance or agent can cause or communications system, electronic device
threaten bodily injury, illness, emotional distress (including, but not limited to, smart phone,
or damage to human health or human welfare or laptop, tablet, wearable device), server, cloud or
can cause or threaten damage to, deterioration microcontroller including any similar system or any
of, loss of value of, marketability of or loss of use configuration of the aforementioned and including
of property. any associated input, output, Data storage device,
Cyber Act networking equipment or back up facility, owned or
means an unauthorised, malicious or criminal act or operated by You or any other party.
series of related unauthorised, malicious or criminal
acts, regardless of time and place, or the threat or
hoax thereof involving access to, processing of, use Change 7 – Updated Building and
of or operation of any Computer Equipment. common contents policy – What is
Cyber Incident not insured
means:
Your PDS is amended by deleting the wording
• any error or omission or series of related errors ‘disease,’ from sub-clause 12 on page 17 within
or omissions involving access to, processing of, the ‘What is not insured’ section of Building and
use of or operation of any Computer Equipment; common contents policy.
or
• any partial or total unavailability or failure or Insurer
series of related partial or total unavailability or Insurance Australia Limited
failures to access, process, use or operate any ABN 11 000 016 722 AFSL 227681
Computer Equipment. trading as WFI
Cyber Loss
means any loss, damage, liability, claim, cost or
expense of whatsoever nature directly or indirectly
caused by, contributed to by, resulting from, arising
out of or in connection with any Cyber Act or Cyber
Incident including, but not limited to, any action
taken in controlling, preventing, suppressing or
remediating any Cyber Act or Cyber Incident.
WFIRSPSPDS REV1 07/21RESIDENTIAL STRATA PLAN Product Disclosure Statement Date of preparation: 14 May 2021
How the
Residential Strata
Plan works
Date of preparation: 14 May 2021
About the insurer It also means that if Your Understanding the
circumstances change and You need
and WFI more extensive insurance, it is easy significant features
The insurer for this Residential Strata for You to add another of the policies and benefits
Plan is Insurance Australia Limited to Your Plan. To properly understand the significant
(ABN 11 000 016 722) trading as WFI Insurance against liability for workers’ features and benefits of each of the
(WFI) whose contact details are: compensation is compulsory for policies, You need to:
Telephone: 1300 934 934 employers throughout Australia. • read the:
Post: Locked Bag 1, This Plan does not insure You for Your – Important information
Bassendean DC WA 6942 liability for workers’ compensation. (pages 3 to 8)
Nor does the Plan include insurance
Email: info@wfi.com.au – General conditions
for a range of other risks You might
WFI is an Australian Financial Services want to insure Yourself against. You (pages 9 and 10)
Licensee (AFSL No. 227681) authorised need to determine whether this – General exclusions
to issue, vary and cancel general is the case and make sure You are (pages 11 and 12)
insurance products and provide appropriately protected.
general financial product advice in – General definitions
Any advice We or Our representatives (pages 13 and 14)
relation to general insurance.
provide is general advice only and
The Residential Strata Plan consists which apply to all policies; and
does not take into account Your
of 7 different policies You can choose personal objectives, financial • read the policy wording – it tells You:
from, covering a wide range of risks. circumstances or needs. Before You – what the policy covers
This approach gives You great decide to acquire any of the policies,
You should carefully consider the – what the policy does not cover
flexibility as You can arrange Your
insurance to meet Your particular appropriateness of the policies having – any additional benefits We provide
needs. regard to Your objectives, financial – any special conditions We apply
situation and needs.
– what We pay for a claim.
There is an index on the front of each
of the policies for easy reference.
Policies You can choose from
Building and Machinery Electronic Voluntary
common breakdown equipment workers
contents accident only
p15 p22 p25 p28
Fidelity Legal Strata council
guarantee liability members legal
liability
p32 p34 p38
RSPPDS 06 0521 WFI Residential Strata Plan – How the Residential Strata plan works 1Summary of contents
Important information General definitions What we pay for electronic data
processing media and information 27
Our words 4 applying to words We use in What is not insured under
this Plan 13 sections 1 and 2 of this policy 27
No warranty that this policy
complies with Strata Titles Special definitions of words used
Legislation requirements 4 Building and common in this policy 27
Applying for insurance cover 4 contents policy
The agreement between What You are insured against 16 Voluntary workers
You and Us 4
What is not insured 16 accident only policy
The cost of Your insurance 4
What We pay if the Building What You are insured against 29
Excess (Your contribution) 4 is damaged (or goods, plant What is not insured 29
Utmost good faith 5 or equipment included in the
definition of Building are stolen) 17 What We pay 29
Jurisdiction 5
What We pay if Common Contents Special conditions 31
Good and Services Tax (GST) 5 are damaged or stolen 17
Special definitions of words used
How GST affects claim payments 5 Additional benefits 18 in this policy 31
Dishonest claims 5 Inflation protection 20
Keep up to date records of Excess 20
Fidelity guarantee policy
insured property 5 What You are insured against 33
Special condition 20
Changing the terms of any of What is not insured 33
Your policies 6 Special definitions of words used
in this policy 21 What We pay 33
Your cooling-off right 6
What We do not pay 33
When You can cancel 6 Machinery breakdown Reinstatement of fidelity
When We can cancel 6 policy guarantee limit 33
Code of Practice 6 What You are insured against 23 Special definitions of words used
Our Complaints Handling in this policy 33
What is not insured 23
Procedures 6
What We pay 23
Privacy 6 Legal liability policy
Additional benefit 23
Flood 8 What You are insured against 35
Special definitions of words used
General advice warning 8 in this policy 24 What is not insured 35
Information about Our Product Special condition 24 How much We pay 37
Disclosure Statement (PDS) 8 Additional benefits 37
Financial Claims Scheme 8 Electronic equipment Discharge of liabilities 37
Contacting Us 8 policy Special definitions of words used
Terrorism Insurance Act 2003 (Cth) 8 The types of cover We offer 26 in this policy 37
Section 1: what is insured for
General conditions electronic equipment 26 Strata council members
What You must do when You What is not insured for electronic legal liability policy
have a policy 9 equipment 26 What You are insured against 39
What You must and must not do What We pay for electronic What is not insured 39
if You make a claim or an event equipment 26
happens that might lead to You Additional benefits 40
making a claim 9 Special conditions for the insurance
for electronic equipment 26 Aggregate Limit of Indemnity 40
What We may do 9
Section 2: what is insured for Special conditions 40
What can affect Your entitlements 10 electronic data processing media Special definitions of words used
and information 26 in this policy 41
General exclusions What is not insured for electronic
data processing media and
What is not insured by any of the information 26
policies in this Plan 11
2 WFI Residential Strata Plan – Summary of contentsImportant
information
applying to all policies
Our words 4 Changing the terms of any
of Your policies 6
No warranty that this policy
complies with Strata Titles Your cooling–off right 6
Legislation requirements 4
When You can cancel 6
Applying for insurance cover 4
When We can cancel 6
The agreement between
You and Us 4 Code of Practice 6
The cost of Your insurance 4 Our Complaints Handling
Procedures6
Excess (Your contribution) 4
Privacy6
Utmost good faith 5
Flood8
Jurisdiction5
General advice warning 8
Goods and Services Tax (GST) 5
Information about Our Product
How GST affects claim payments 5 Disclosure Statement (PDS) 8
Dishonest claims 5 Financial Claims Scheme 8
Keep up to date records Contacting Us 8
of insured property 5
Terrorism Insurance Act 2003 (Cth) 8
WFI Residential Strata Plan – Important information 3Our words • identify the policies You want • the type of property being insured
and matters particular to them and its size, construction, use and
To make sure You can readily (e.g. the property You want to where it is located
understand Your rights and cover, the limits You may want • the type(s) and amount(s) of cover
obligations, We have written this for certain covers, any excesses You require, excess levels and the
Residential Strata Plan in plain that may apply and any variations period for which You want the
English. For easy reference, We required to the standard terms). cover (where this is optional); and
have capitalised the first letter of
• pay up to the sum insured or • Your relevant claims and insurance
each word which We define in Our
other limits specified in relation experience.
‘General definitions’ (which apply
to the policies and their covers.
to all policies), and in Our ‘Special Factors that increase the risk to Us
It is important that You make sure
definitions’ found at the end of each generally increase the premium (e.g.
these amounts suit Your needs.
policy (which apply only to words higher sums insured or a high claims
If You do not do this some of Your
used in that particular policy). Where experience) and those that lower the
loss might not be insured.
a word is defined in both the ‘General risk generally reduce the premium
definitions’ and in the ‘Special • identify the Period of Insurance (e.g. lower sums insured, higher
definitions’, the ‘Special definitions’ during which Your policies will excesses or low claims experience).
meaning will take precedence operate. If You have any queries about this You
for that policy only. • inform You what policies We are can ask Us when You apply for cover.
Words capitalised in headings do not able to offer You and the total Your premium also includes amounts
have definitions. premium You need to pay for that take into account Our obligation
Your policies (see ‘The cost of Your (actual or in some cases estimated)
All of the other words in this Plan
insurance’ on this page). to pay any relevant compulsory
have the meanings set out in the
Macquarie Dictionary (current edition) The above details are recorded in the government charges, taxes or levies
so that You can easily find out what Certificate of Insurance We issue to (e.g. Stamp Duty, GST and Fire Services
they mean. You. You need to read it carefully to Levy) in relation to Your policy(ies). We
ensure You are happy with the cover show the amounts on Your Certificate
A reference to the singular includes
provided and check that the details of Insurance.
the plural and vice versa, unless the
are correct. You should keep the Where We are required to pay an
context otherwise requires.
Certificate of Insurance and the policy estimated amount (e.g. for a Fire
documents in a safe place. Services Levy) based on criteria set by
No warranty that this the government, We allocate to the
policy complies with The agreement between policy Our estimate of the amount We
Strata Titles Legislation You and Us will be required to pay. We may over
requirements or under recover in any particular year
We only provide You with insurance but We will not adjust Your premium
Under the applicable Strata Titles under those policies for which We because of this. You can obtain further
Legislation, there are specific issue You with a Certificate information on Our website
insurance requirements that a Strata of Insurance and only for the Period www.wfi.com.au.
Company must put in place. You must of Insurance shown on the Certificate
We tell You when You apply for
make Your own enquiries and confirm of Insurance. The insurance provided
insurance how and when the
whether or not this insurance meets under any of Our policies is also
premium (i.e. total amount payable)
the requirements set out under the subject to Our General conditions
needs to be paid. It is a term of Your
relevant Strata Titles Legislation. We and General exclusions, together with
policy that You pay the premium to
do not warrant or represent that the provisions shown on the Certificate
Us by the time required by Us.
cover provided under this insurance of Insurance issued to You.
meets the insurance requirements Subject to what We tell You on pages
under the Strata Titles Legislation. 4 and 5 about excesses, if a provision Excess (Your contribution)
shown on the Certificate of Insurance An excess is the amount which You
Applying for insurance is inconsistent with a provision will be required to contribute to any
cover contained in the policy to which claim on a policy. The amount We
it relates then, to the extent of the must pay under the policy is reduced
You must apply to Us for insurance inconsistency, the provision shown on by the amount of the excess. You will
cover and meet Our relevant eligibility the Certificate of Insurance prevails. only be required to pay an excess if it
criteria before cover will be provided. is mentioned in the policy You have
It is also important You understand
how We manage Your personal
The cost of Your taken out or shown on the Certificate
of Insurance.
information which We tell You about insurance
Where the excess for an event selected
in Our ‘Privacy’ information on pages We determine the base premium by or imposed on the Certificate of
6–8. considering a number of criteria. Insurance is higher than the amount
Where We have agreed to issue You When You apply for insurance cover of excess mentioned in the policy for
with insurance, We will: We ask You to provide information the same event, You will be required
about Your personal risk situation to pay the higher excess specified in
relevant to each policy, such as: the Certificate of Insurance.
4 WFI Residential Strata Plan – Important informationYou will only be required to pay one insured is not used 100% for business • registered for GST and the
excess on claims You make under a use. All items of property used 100% property which is the subject
number of the policies in this Plan that for business use and for which You of the claim is used 100% for
arise out of the one event, being the are or would be entitled to a full input personal use, the amount We pay
highest one payable under the policies. tax credit should be insured on a GST is inclusive of any relevant GST
Sometimes We introduce or increase exclusive basis. component.
an excess on renewal of a policy. This outline of the effect of the The maximum amount We pay is
We generally do this because of rising GST on Your policies is for general the sum insured or other limit of
claim numbers and costs and to information only. You should not insurance cover inclusive of any
minimise any increase in premium rely on this information without relevant GST component.
that would otherwise be required first seeking expert advice on the • registered for GST and the
to cover those rising claim numbers application of the GST to Your property which is the subject
and costs. particular circumstances. of the claim is used for business
We show the new excess on the and personal use, the amount
Certificate of Insurance that We issue How GST affects claim We pay is inclusive of any relevant
to You confirming cover. payments GST component with reference
to the percentage of personal use
Utmost good faith Where We insure Your property and exclusive of any relevant GST
component with reference to the
If We arrange to replace, repair or
The law requires each of Us to act percentage of business use of the
reinstate an item which is the subject
towards the other with utmost good item that is the subject of the
of a claim, We will pay the cost to
faith (fairly, openly and honestly) in claim.
replace, reinstate or repair the item
the performance of the policy and in
inclusive of GST. However, We will not The maximum amount We pay
the making and handling of claims
replace, reinstate or repair an item is the sum insured or other limit
under the policy.
where the cost (inclusive of GST) to Us of insurance cover inclusive or
to do so will exceed the amount of exclusive of GST as the case
Jurisdiction the relevant sum insured or other may be.
The policies in this Plan are limit of insurance cover in the policies You must advise Us of Your correct
governed by and will be construed in that apply to the item. entitlement to an input tax credit
accordance with the laws of Australia If We settle Your claim by making on Your premium and the correct
and the parties agree to submit to the a payment to You, or on Your behalf, entitlement to an input tax credit on
jurisdiction of the courts of Australia. Your GST status and the GST status each item of property to be insured.
of the property which is the subject Should the item of property which is
of the claim, will determine the the subject of the claim be used for
Good and Services Tax amount We pay. When You are: both personal and business use, any
(GST) amounts We pay will be determined
• not registered for GST, the amount
The amount of premium payable in accordance with the percentage
We pay is inclusive of any relevant
by You for the policies includes an of personal and business use.
GST component.
amount on account of the GST on Any GST liability arising from Your
The maximum amount We pay is
the premium. All amounts insured incorrect advice is payable by You.
the sum insured or other limit of
by the policies are in accordance
insurance cover inclusive of any Where We insure Your liability
with the advice You have given to Us
relevant GST component. to third parties
regarding Your GST status and the
GST status of items to be insured. • registered for GST and the We pay up to the limit of indemnity
We will not be liable to pay any property which is the subject shown on the Certificate of Insurance
GST, or any fine, penalty or charge of the claim is used 100% for inclusive of GST.
that You are liable for arising out of business use and is property
Your misrepresentation of, or failure for which You are or would be
to disclose, Your proper input tax entitled to a full input tax credit, Dishonest claims
credit entitlement on the premium the amount We pay is exclusive If You make a dishonest claim, We can
relating to the policies. In respect of any relevant GST component, refuse to pay it. We may also cancel
of Your policies with Us where You including, but not limited to, any the policy.
are registered for GST purposes, You input tax credit to which You
are entitled for any acquisition
should calculate Your proposed sums
insured with reference to the GST which is relevant to Your claim,
Keep up to date records
status of each item of property to or to which You would have been of insured property
be insured. entitled were You to have made a To help Us to process any claim You
relevant acquisition. may have, You should take reasonable
Depending on the GST status of each
item of property to be insured, the The maximum amount We pay is steps to keep a record or evidence
sums insured may or may not include the sum insured or other limit of of ownership, value and detailed
a GST component. An amount for GST insurance cover exclusive of any description of any insured property
should only be included in the sum relevant GST component. in a safe place. This includes contracts
insured if the item of property to be of sale, valuations, receipts, credit
WFI Residential Strata Plan – Important information 5card and bank statements, instruction When We can cancel will then be considered by a
manuals or photographs. Failure to designated Internal Dispute Resolution
take reasonable steps to keep a record We may cancel a policy as allowed by Officer of WFI with the appropriate
or evidence of ownership, value the Insurance Contracts Act 1984 (Cth). experience, knowledge and authority
and detailed description of insured We give You a notice in writing. to deal with it.
property may result in a reduction If We cancel, We refund the premium Details of Our ‘Complaints Handling
or denial of Your claim. We also less an amount to cover the period for Procedures’ are set out in Our
recommend You keep Your valuations which You were insured. brochure ‘Handling Complaints and
up to date. Dispute Resolution Our Commitment
Code of Practice to You’ and in Our ‘Privacy’ brochure.
Changing the terms The brochures tell You how to access
We proudly support the General
of any of Your policies Insurance Code of Practice (Code).
Our ‘Complaints Handling Procedures’.
You can contact Us for these
You may ask Us to change a term The purpose of the Code is to raise brochures or access them online at
of any of Your policies. If We agree, the standards of practice and service www.wfi.com.au.
We will confirm the change in writing. in the general insurance industry.
If We are unable to resolve Your
The objectives of the Code are: complaint through Our ‘Complaints
Your cooling-off right • to commit Us to high standards Handling Procedures’, You may be
If You wish to reconsider Your decision of service; able to have Your complaint dealt
to insure with Us, please contact Us with by the Australian Financial
• to promote better, more-informed
to discuss Your concern. If You decide Complaints Authority, which is a free,
relations between Us and You;
not to proceed, You may cancel Your independent and impartial external
• to maintain and promote trust dispute resolution service. Its contact
policies by notifying Us in writing
and confidence in the general details are as follows:
within 30 days of You receiving the
insurance industry;
Certificate of Insurance that You wish Australian Financial Complaints
to do this. If You do this and You have • to provide fair and effective Authority
not made a claim and nothing has mechanisms for resolving Online: www.afca.org.au
happened which would entitle You complaints You make about Email: info@afca.org.au
to make a claim, We will refund the Us; and Phone: 1800 931 678 (free call)
premium You paid to Us. • to promote continuous Mail: Australian Financial
You still have cancellation rights after improvement of the general Complaints Authority
this cooling-off period ends and these insurance industry through GPO Box 3,
rights are set out below in ‘When You education and training. Melbourne VIC 3001.
can cancel’. The Code Governance Committee is If Your complaint is to do with a
an independent body that monitors privacy issue, You may refer it to the
When You can cancel and enforces insurers’ compliance Privacy Commissioner through the
with the Code. Office of the Australian Information
You can cancel a policy at any time by Commissioner.
writing to Us requesting cancellation. Our Commitment to You:
If You cancel, other than under
‘Your cooling-off right’, We refund
We have adopted and support the Privacy
Code and are committed to complying
the premium less an amount which with it. We are committed to meeting Our
covers the period for which You were privacy obligations to You under the
insured, reasonable administrative Please contact Us if You would like Privacy Act 1988 (Cth) (‘the Act’).
costs relating to the issue and more information about the Code The Act provides for information to
cancellation of the policy and any or the Code Governance Committee. be collected, used, disclosed and held
government taxes or duties We in accordance with the Australian
cannot recover. Our Complaints Handling Privacy Principles (APPs).
However, if You have made a claim Procedures You agree that We may collect,
or are entitled to make one under use, disclose and hold Your personal
To access Our ‘Complaints Handling
the policy: information as set out below.
Procedures’, simply contact Your local
• there is no return of premium WFI Area Manager, Client Service Team Collection
for any unused portion; and or the Claims Officer handling Your
We collect information which is
• We may deduct from any claim claim. If You have a complaint, We will
reasonably necessary to provide
payment premium already do everything possible to resolve the
Our services for underwriting and
refunded to You. matter on Your initial contact with Us.
administering Your insurance, claims
If a complaint is not resolved, You may
We do not refund premium if the handling, market and customer
access Our ‘Complaints Handling
Certificate of Insurance specifically satisfaction research and to develop
Procedures’ and Our internal dispute
says there is no refund of premium. and identify products and services that
resolution (IDR) process. The complaint
may interest You. Collection will only
take place by lawful and fair means.
6 WFI Residential Strata Plan – Important informationWe collect information regarding You, We will only collect personal Complaints
other people, any risk to be insured, information about an individual If You have a complaint regarding Our
previous claims or losses, details of from that individual, unless it is management of Your privacy You may
previous insurances and insurers, unreasonable or impractical to do so. access Our ‘Complaints Handling
credit status and any matters relevant Procedures’ and internal dispute
to the insurance to be provided. Overseas recipients
resolution (IDR) process by contacting
We collect personal information If Your personal information is Us. Your complaint will be reviewed
directly or indirectly by telephone, collected by or supplied to a foreign by Our Privacy Officer who has up to
email, facsimile, online, post, external organisation We will ensure it will fifteen business days to resolve Your
agencies and in person from You or be held, used or disclosed only in complaint. If the Privacy Officer
another person or persons. accordance with the Act. cannot resolve Your complaint then it
If We collect information pursuant to Marketing will be escalated to a designated IDR
a law, regulation, or court order then Officer who will make a final IDR
We also collect Your information so decision within fifteen business days
We will advise You of the law or the that We and Our related companies
court order applicable. of the escalation.
and business alliance partners can
If You fail to provide Us with personal offer You services and products that We will also inform You of Your right
information then this insurance may We believe may be of interest to to take this matter to the Office of the
not meet Your needs. You. You agree that We may so use Australian Information Commissioner
Your personal information. However, (OAIC) together with contact details
At the time of collection or as soon as and the time limit for applying to the
You can opt out of receiving such
practicable thereafter We will notify OAIC. In addition if You have not
communications by contacting Us.
You of or make sure You are aware of received a response of any kind to
how to access information about Our Access and correction Your complaint within 30 days, then
identity, contact details, the purposes You have the right to take the matter
You can seek access to Your personal
for which We collect the information, to the OAIC.
information by contacting Us. You can
the consequences of not providing the
require Us to correct the personal The OAIC is the statutory body given
information, how You can access and
information if it is inaccurate, the responsibility of complaint
correct the information, that We will
incomplete or out of date. We will handling under the Act. The OAIC is
disclose the information overseas and
respond to any such request within a independent and will be impartial
the countries We will so disclose to.
reasonable time. We will provide You when dealing with Your complaint.
Use and disclosure with access within a reasonable time The OAIC will investigate Your
in the manner requested, unless We complaint, and where necessary,
We may disclose Your personal
are entitled to refuse to provide make a determination about Your
information to WFI related
access. If We decline to provide You complaint, provided Your complaint
companies, Our agents, overseas
with access We will provide You with is covered by the Act. You have 12
service providers, other insurers,
the reasons for Our refusal and how months from the date You became
mailing houses and document service
You may access Our internal dispute aware of Your privacy issue to lodge
providers, financial institutions,
resolution (IDR) process. Your complaint with the OAIC. The
insurance and claim reference
agencies, credit agencies, loss If We correct information We will contact details of the OAIC are:
assessors and adjusters, financial inform You. If We refuse to amend Office of the Australian Information
or investigative service providers, information We will provide You with Commissioner
internal dispute resolution officers Our reasons for the refusal and details Post: GPO Box 5218,
and dispute resolution providers of how to access Our IDR process. Sydney NSW 2001
such as the Australian Financial Phone: 1300 363 992
Data quality and security
Complaints Authority. Website: www.oaic.gov.au
We will take such steps as are Email: enquiries@oaic.gov.au
We use and disclose Your personal
reasonable in the circumstances
information for the purposes of You also have a right in limited
to ensure the personal information
providing insurance, administration circumstances to have Your privacy
We collect is accurate, up to date,
of the policies, claims handling and complaint determined by the
complete and protected from
dispute resolution. Australian Financial Complaints
unauthorised access, misuse,
We may also use or disclose Your Authority (AFCA). The AFCA can
modification, interference or loss.
personal information for a secondary determine a complaint about privacy
purpose and You agree that We may Privacy policy where the complaint forms part of a
so use it. wider dispute between You and Us or
For further information, read Our
when the privacy complaint relates to
brochure ‘Privacy’, or visit Our website
Indirect collection or arises from the collection of a debt.
at www.wfi.com.au. Our privacy policy
When You provide information The AFCA is an independent dispute
is available free of charge from Our
about other individuals You must resolution body approved by the
website or You can contact Us for
make them aware of the disclosure Australian Securities and Investments
a free copy. We will take such steps
and the use to which their personal Commission. We are bound by AFCA’s
as are reasonable to provide a copy
information will be put. determinations, provided the dispute
of Our privacy policy in a form that
falls within the AFCA’s Terms of
You request.
Reference. You have two years from
WFI Residential Strata Plan – Important information 7the date of our letter of decision to or a supplementary PDS. You can
make an application to the AFCA for obtain a paper copy of any updated
a determination. You can access the change without charge by contacting
AFCA dispute resolution service by Us. Other documents may form part
contacting them at: of Our PDS. Any such documents will
Australian Financial Complaints include a statement identifying them
Authority as part of this PDS.
Online: www.afca.org.au
Email: info@afca.org.au Financial Claims Scheme
Phone: 1800 931 678 (free call)
Each of these policies may be a
Mail: Australian Financial
‘protected policy’ under the Federal
Complaints Authority
Government’s Financial Claims
GPO Box 3,
Scheme (FCS) which only applies
Melbourne VIC 3001.
in the event of an insurer becoming
You can seek access to Your personal insolvent and the Federal Treasurer
information and require Us to correct declaring that the FCS will apply to
it if it is inaccurate, incomplete or out that insurer.
of date. For further information, read
Payment of a claim under the FCS
Our brochure ‘Privacy’, or visit Our
is subject to the Scheme’s eligibility
website at www.wfi.com.au.
criteria being met.
Information about the FCS can be
Flood obtained from http://www.fcs.gov.au.
Some of the policies in this Plan
provide cover for damage caused Contacting Us
by Flood. Please note that there
are limitations on the Flood cover We are happy to help You with any
provided by those policies. enquiries You have about any policies
or the extent of Your insurance cover
or to confirm any policy transaction.
General advice warning Please feel free to contact Us at
Any advice We or Our representatives any time.
provide is general advice only
and does not take into account Terrorism Insurance Act
Your personal objectives, financial
circumstances or needs. Before 2003 (Cth)
You decide to acquire any of the The policies exclude cover for losses
policies, You should carefully read as a result of an Act of Terrorism.
this document and consider the
appropriateness of the policies having In the event that Damage to Property
regard to Your objectives, financial occurs and the cause of the damage is
situation and needs. declared a terrorist incident by the
responsible Minister, then You may be
afforded protection within the limits
Information about Our of indemnity of the policies by virtue
Product Disclosure of the Terrorism Insurance Act 2003
(Cth). The operation of this Act may
Statement (PDS) also serve to reduce the settlement
Only the parts of this document of Your loss to a percentage of the
relevant to insurance cover provided otherwise recoverable loss. In the event
to You as a ‘retail client’ as defined that the settlement is reduced then
under the Corporations Act 2001 (Cth) this will be at the direction of the
and any other documents We tell Minister.
You are included, make up Our PDS.
A more detailed explanation of the
Where required and where permitted
operation of the Terrorism Insurance
to by law We may need to update
Act 2003 (Cth) can be obtained at
this PDS from time to time. If the
www.arpc.gov.au.
update is to correct a misleading or
deceptive statement or omission that
is materially adverse from the point
of view of a reasonable person
deciding whether to acquire the cover,
We will provide You with a new PDS
8 WFI Residential Strata Plan – Important informationGeneral
conditions
applying to all policies
What You must do when will be considered in each • give Us all relevant information
circumstance based on what and help We may reasonably need
You have a policy impact or effect Your failure in handling the claim. We will
You must: caused or contributed to the only request information relevant
claim or Our decision to issue to handling Your claim and will
• keep all insured property in good
Your policy explain why the information,
condition
– if You no longer have an documents and help is required.
• take reasonable steps to comply
interest in the insured property You must not without Our prior
with all relevant legislation and
– if You take out any other consent:
the requirements of government
and statutory authorities insurance which covers any • carry out repairs or dispose of any
insured property or liability damaged property until We have
• comply with all relevant Australian
insured by any of the policies had the opportunity to inspect it,
Standards published by Standards
You take out under this Plan. provided that it is reasonable and
Australia Limited
• ensure that any safety system or safe to do so
• take reasonable care to safeguard
security device installed to protect • admit liability for the event, loss,
Yourself and all insured property
insured property is in working damage or injury
• take reasonable care to avoid order and activated. • negotiate, pay or settle a claim by
causing harm to others or to
or against anyone else for the loss,
property belonging to others
What You must and damage or injury.
• tell Us as soon as reasonably
possible:
must not do if You make
a claim or an event What We may do
– if there is, or there will be, any
material change relating to the happens that might lead If an event happens that causes loss,
insured property (including to You making a claim damage or injury, We may:
where it is kept) or the nature • take over and conduct in Your
You must:
of the risk. When We receive a name the defence or settlement
notification of change, We may • take reasonable steps to limit loss, of any claim against You. We have
decide to either communicate damage or injury and to prevent sole discretion in how the defence
to You an adjustment to the further loss, damage or injury is conducted or a claim is settled;
premium or terms of the policy resulting from the event and
or cancel Your policy in • as soon as reasonably possible tell • represent You at any inquest or
accordance with the provisions the police if a criminal act might official enquiry.
of the Insurance Contracts Act have caused the loss, damage or
1984. If You do not provide such If We indemnify or agree to indemnify
injury
notification before the You, We have the right to proceed
happening of an event giving • as soon as reasonably possible tell in Your name against any Person
rise to a claim under this policy Us about the claim or the event responsible for the loss, damage or
then, subject to the Insurance and send Us written details when injury. We take this action at Our
Contracts Act, 1984, We may We require this expense. You must not do anything
refuse to pay a claim, either in • as soon as reasonably possible which limits Our right to do so.
whole or in part. The course of send Us any correspondence You
action We take when You fail receive about the claim or the
to provide such notification event
WFI Residential Strata Plan – General conditions 9What can affect Your
entitlements
We may decline or reduce the amount
of any claim under this policy for
loss, damage or liability, or refuse to
indemnify You, if You enter, or have
entered (even before this contract of
insurance) into an agreement, release
or undertaking which excludes or
limits Our right to recover damages
or a contribution from any third party
who would otherwise have been
liable to compensate You with respect
to such loss, damage or liability
unless such agreement, release, or
undertaking has been allowed in this
policy or by specific mention in Your
Certificate of Insurance.
If You do not do what You are obliged
to do under Your policy and such
failure to comply with Your policy
contributes to the loss, damage or
liability, We may refuse to pay a claim
or any part of it.
If We would otherwise be entitled
to decline or reduce the amount of
Your claim or refuse to indemnify You,
We will not do so if the only reason
We would do so is because of an act
or omission by Your Strata Manager
and You did not know and could not
reasonably have been expected to
know of that act or omission at the
time of that act or omission.
The course of action We take when
You fail to follow a condition will
be considered in each circumstance
based on what impact or effect
Your failure to comply caused or
contributed to the claim or Our
decision to issue Your policy.
10 WFI Residential Strata Plan – General conditionsGeneral
exclusions
applying to all policies
What is not insured – anyone entitled to benefit
under a policy in this Plan.
6 radioactive contamination
by any of the policies • any Personal Injury, Damage to
4 electronic data, cyber, Property, loss of income, cost
in this Plan e-commerce or liability directly or indirectly
The policies do not insure You for the • any Personal Injury, Damage to caused by or arising out of or in
following types of loss. Please read Property, loss of income, cost connection with:
each of Your policies as they do not or liability directly or indirectly – a nuclear reactor or power
cover other losses as well. caused by or arising out of or in station; or
None of the policies in this Plan connection with: – radioactive contamination; or
insure against: – the total or partial – nuclear reaction, radiation or
1 asbestos destruction, distortion, fission; or
erasure, corruption, alteration,
• any liability for Personal Injury, misuse, misinterpretation, – the production, processing,
Damage to Property or loss of handling, storage, transport,
misappropriation or other use
income directly or indirectly disposal or use of nuclear
of, Computer Equipment; or
caused by or arising out of fuel, energy, material or waste
or in connection with asbestos. – an error in creating, amending, or of any buildings, plant or
entering, directing, deleting or equipment relating to it.
2 consequential loss using Computer Equipment; or
• consequential loss of any kind – the total or partial inability or 7 terrorism
or description whatsoever. failure to receive, send, access • any Personal Injury, Damage to
This means We will not pay for or use Computer Equipment Property, loss of income, costs
any direct or indirect financial for any time or at all. or liability directly or indirectly
or economic loss, for example loss caused by or arising out of or in
of use or enjoyment, loss of profits 5 punitive, exemplary or connection with:
or depreciation. aggravated damages, fines or
civil penalties – an Act of Terrorism; or
– the Voluntary workers accident
only, the Legal liability and • any punitive, exemplary or – action taken to control, prevent
Strata council members legal aggravated damages or any or suppress, or attempt to
liability policies in this Plan; additional damages resulting control, prevent or suppress,
and from the multiplication of an Act of Terrorism.
– the extent that an additional compensatory damages awarded 8 war
or optional benefit in a policy against You or Your family or any
fines or civil penalties imposed on • any Personal Injury, Damage to
in this Plan expressly extends
You or Your family. Your family Property, loss of income, cost
to cover consequential loss.
means family who normally lives or liability directly or indirectly
3 deliberate acts with a Unit Owner at the Unit, caused by or arising out of or in
including a legal or de facto connection with:
• any deliberately or wilfully caused
Personal Injury, Damage to spouse and any member of their – war, invasion, acts of a foreign
Property, loss of income or cost by: family who normally lives with enemy, hostilities or war-like
them at the Unit. operations (whether war is
– You; or
declared or not); or
– anyone acting with Your
express or implied consent; or
WFI Residential Strata Plan – General exclusions 11– civil war, rebellion, mutiny,
civil disturbance or commotion
assuming the proportions
of or amounting to an uprising,
military rising, military or
usurped power, insurrection,
rebellion or revolution; or
– nationalisation, confiscation,
damage, destruction
or requisition of property
by or under the order of a
government or statutory
authority.
12 WFI Residential Strata Plan – General exclusionsGeneral
definitions
applying to words We use in this Plan
WORDS OR TERM DEFINITION
Accident means a sudden, unexpected and unintended event which:
• You did not intend or expect; and
• a reasonable person in Your position and with Your knowledge and experience would not
have expected.
‘Accidental’ and ‘Accidentally’ have corresponding meanings.
Act of Terrorism means an act, including but not limited to the use or threat of force or violence by any
Person or group(s) of Persons, whether acting alone or on behalf of or in connection with
any organisation(s) or government(s), which from its nature or context is committed for,
or in connection with political, religious, ideological, ethnic or similar purposes or reasons,
including the intention to influence any government and/or to put the public, or any section
of the public, in fear.
Breakdown means physical damage to a machine which requires repair to enable continued use.
Business means the business of the Strata Company as a Strata Company.
Certificate of means the most recent Certificate of Insurance We gave You which contains the specific
Insurance insurance details for You.
Collapse means sudden and dangerous distortion of any part of a boiler, Economiser or pressure
vessel caused by external pressure but not if the distortion is the result of slowly developing
deformation.
Computer Equipment means data or part of data, computer hardware, operating system, computer network,
equipment, web sites, servers, extranet, intranet, software or applications software, computer
chip including microprocessor chip or coded instructions, as well as any new technology,
product or service replacing existing Computer Equipment.
Damage to Property means physical loss of or physical damage to property.
Economiser means a device that preheats air or fuel to take pressure off heating elements or help save
on fuel.
Employee means a person employed by You under a contract of service.
Explosion means the sudden and violent rending or tearing apart of the structure of a boiler,
Economiser or pressure vessel or any of its parts by force of an internal gas, liquid or fluid
pressure, causing bodily displacement of its structure and forcible ejection of its contents.
Flood means the covering of normally dry land by water that has escaped or been released from
the normal confines of:
• any lake, or any river, creek or other natural watercourse, whether or not altered
or modified; or
• any reservoir, canal, or dam.
WFI Residential Strata Plan – General definitions 13WORDS OR TERM DEFINITION
Location means the location of the Strata Land shown on the Certificate of Insurance.
Period of Insurance means the ‘Period of Insurance’ shown on the Certificate of Insurance.
Person means a natural person, firm, company, partnership, incorporated association, incorporated
body or statutory body.
Personal Injury means bodily injury (including death and illness), disability, shock, mental anguish, mental
injury or loss of consortium.
Plan means this Residential Strata Plan.
Storm means violent wind or thunderstorm (including a tornado or cyclone), hail, rain or snow.
Storm Surge means an abnormal rise in the level of the sea along a coast caused by the winds of a severe
cyclone typically at least 30kms across and 2–5 metres above the average sea level.
Strata Company means the body corporate shown on the Certificate of Insurance incorporated by the
registration of the Strata Plan, variously described in Strata Titles Legislation as a Strata
Company, strata corporation, body corporate, owners corporation or corporation.
Strata Council means a Strata Company office bearer or member of a council, committee or executive of the
Member Strata Company appointed in accordance with Strata Titles Legislation.
Strata Land means the land at the Location.
Strata Manager means a professional Strata Manager appointed by the Strata Company and includes the
employees and agents of that Strata Manager.
Strata Plan means the registered plan or survey showing the division of the Strata Land and the
disposition of title relating to it.
Strata Titles means the legislation in the State or Territory in which the Strata Land is situated relating
Legislation to the division of land or buildings into Units or lots and common property, all as amended
or replaced from time to time, with associated regulations.
Unit means a Unit or lot shown on the Strata Plan.
Unit Owner means the legal or beneficial owner of a Unit.
We, Us, Our and WFI means Insurance Australia Limited trading as WFI.
You where used in, or in relation to, a policy in this Plan, means ‘You’ as defined in that policy.
‘Your’ and ‘Yourself’ have corresponding meanings.
14 WFI Residential Strata Plan – General definitionsYou can also read
