2APremium discount scheme for members of groups

2A Premium discount scheme for members of groups

2A Premium discount scheme for members of groups

Despite clause 1, if the employer is a member of a group:

(a) clause 1 (b)–(e) do not apply, and

(b) where the sum of the basic tariff premiums [TG] for all the members of that group:

(i) is less than $50,000 (or, if the period of insurance is to be less than 12 months, where the sum of the basic tariff premiums [TG] would be less than $50,000 were that period of insurance to be 12 months), and if the experience adjusted premium exceeds one and a half times the value of the basic tariff premium for the employer’s policy [T], the value of replaces the experience premium in the formula in clause 1 (a). That is, where the limit applies, then:

(ii) is or exceeds $50,000 but is less than $150,000 (or, if the period of insurance is to be less than 12 months, where the sum of the basic tariff premiums [TG] would be or would exceed $50,000 but would be less than $150,000 were that period of insurance to be 12 months), and if the experience adjusted premium exceeds twice the value of the basic tariff premium for the employer’s policy [T], the value of replaces the experience premium in the formula in clause 1 (a). That is, where the limit applies, then:

(iii) is or exceeds $150,000 but is less than $300,000 (or, if the period of insurance is to be less than 12 months, where the sum of the basic tariff premiums [TG] would be or would exceed $150,000 but would be less than $300,000 were that period of insurance to be 12 months), and if the experience adjusted premium exceeds two and a half times the value of the basic tariff premium for the employer’s policy [T], the value of replaces the experience premium in the formula in clause 1 (a). That is, where the limit applies, then: