36Insurance claims moneys

##### 36 Insurance claims moneys Moneys paid or payable to an insurance broker under a contract of insurance indemnifying the broker in respect of any liability to an insurer, insured or intending insured are not: (a) in the event of the broker becoming an insolvent under administration or an insolvent company under administration; or (b) in the event of the estate of the broker being administered under Part XI of the Bankruptcy Act 1966 or under the law of an external Territory providing for the administration of insolvent estates of deceased persons; available for division among the creditors of the broker generally but shall be paid to the person whose claim against the broker was subject to the indemnity under the contract of insurance.