Australia: Insurance Laws and Products

The NSW Fair Trading and Building Legislation Amendment Bill 2026 has passed both houses and received assent, introducing significant reforms to building regulation and insurance requirements. Key changes include expanded coverage for Decennial Liability Insurance, enhanced powers for NSW Fair Trading and the Building Commission, and modifications to professional indemnity insurance exemptions for building practitioners. While some provisions take immediate effect, major reforms including the DLI expansion

The High Court confirmed that an institutional defendant cannot escape exemplary damages simply because its agents honestly believed their conduct was lawful. Where institutional failures expose callous disregard for vulnerable people in their custody, exemplary damages remain available.

The Supreme Court of Victoria ruled that parties were bound by a settlement deed sent unsigned by the defendants' solicitor and subsequently executed by the plaintiffs’ solicitor, even though the defendants ultimately refused to sign.