Financial Lines Alert – ‘How Smart: Court Confines the Statutory of Utmost Good Faith’Author : Callan O'Neill, Senior Associate

Financial Lines

In Smart v Westpac Banking Corporation [2011] FCA 829, Jagot J of the Federal Court considered whether the statutory duty of utmost good faith in section 13 of the Insurance Contracts Act 1984 (Cth) extended to an “insured person” under a directors & officers policy where that person was not a party to the insurance contract.

Callan O’Neill considers the Court’s decision.