Lexon is exempt from the requirement to hold an Australian financial services licence under the Corporations Act 2001 in respect of financial services.
Lexon is incorporated in Singapore and is regulated by the Monetary Authority of Singapore under Singaporean law, which differs from Australian law.
Singapore has a system of financial supervision of insurers and you should consider whether to obtain further information about that.
Lexon is not authorised under the Insurance Act 1973 to conduct insurance business in Australia and is not subject to the provisions of that Act which establishes a system of financial supervision of general insurers in Australia.
Lexon has paid up capital of AUD $19M and any disputes in relation to the terms of the Master Policy will be governed by Queensland law.
Lexon cannot be declared a general insurer for the purpose of Part VC of the Insurance Act 1973 (Cth) and, if Lexon becomes insolvent, you will not be covered by the financial claims scheme provided under Part VC of that Act.
Lexon does not provide legal advice.
Lexon disclaims, to the extent permitted by law, all warranties, representations or endorsements, express or implied, with regard to this information, including all implied warranties. Lexon does not guarantee, and accepts no legal responsibility whatsoever arising from or connection to, the accuracy, reliability, currency, correctness or completeness of any material contained in this website.
Lexon recommends that users exercise their own skill and care with respect to their use of the information contained in this website and that users carefully evaluate the accuracy, reliability, currency and completeness of the information provided and the relevance for their purposes.
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