sec.69Business plans of licensed insurers

### sec.69 Business plans of licensed insurers A licensed insurer must prepare and give to the commission a business plan for its compulsory third-party insurance business. The licensed insurer’s first business plan must be prepared and given to the commission before the licence is granted. The licensed insurer must revise its business plan whenever it departs significantly from the plan and at the regular intervals that the commission directs by written notice. The licensed insurer must, as far as practicable, conduct its compulsory third-party insurance business in accordance with its current business plan. If the insurer departs significantly from the business plan, it must notify the commission of the departure within 2 months after it happens. A business plan— must describe how the insurer’s compulsory third-party business is to be conducted (including marketing, claims handling, the provision of rehabilitation, the keeping of records, systems management and control of costs); and must be prepared in accordance with the written guidelines issued by the commission and notified to licensed insurers. (sec.69-ssec.1) A licensed insurer must prepare and give to the commission a business plan for its compulsory third-party insurance business. (sec.69-ssec.2) The licensed insurer’s first business plan must be prepared and given to the commission before the licence is granted. (sec.69-ssec.3) The licensed insurer must revise its business plan whenever it departs significantly from the plan and at the regular intervals that the commission directs by written notice. (sec.69-ssec.4) The licensed insurer must, as far as practicable, conduct its compulsory third-party insurance business in accordance with its current business plan. (sec.69-ssec.5) If the insurer departs significantly from the business plan, it must notify the commission of the departure within 2 months after it happens. (sec.69-ssec.6) A business plan— must describe how the insurer’s compulsory third-party business is to be conducted (including marketing, claims handling, the provision of rehabilitation, the keeping of records, systems management and control of costs); and must be prepared in accordance with the written guidelines issued by the commission and notified to licensed insurers. - (a) must describe how the insurer’s compulsory third-party business is to be conducted (including marketing, claims handling, the provision of rehabilitation, the keeping of records, systems management and control of costs); and - (b) must be prepared in accordance with the written guidelines issued by the commission and notified to licensed insurers.