sec.96Payment of unearned insurer’s premiums

sec.96 Payment of unearned insurer’s premiums

The Treasurer may decide, based on actuarial advice, an amount that is payable by a licensed insurer in relation to— the amount derived, or to be derived, by the insurer from insurer’s premiums relating to its liability, or potential liability, for damages for the treatment, care and support needs of persons covered by a CTP insurance policy; and the extent to which the liability, or potential liability, mentioned in paragraph (a) is reduced after the commencement. The amount decided by the Treasurer for a licensed insurer must be paid by the licensed insurer to the agency at a time decided by the Treasurer. In this section— insurer’s premium see the Insurance Act , section 4 . licensed insurer see the Insurance Act , section 4 . (sec.96-ssec.1) The Treasurer may decide, based on actuarial advice, an amount that is payable by a licensed insurer in relation to— the amount derived, or to be derived, by the insurer from insurer’s premiums relating to its liability, or potential liability, for damages for the treatment, care and support needs of persons covered by a CTP insurance policy; and the extent to which the liability, or potential liability, mentioned in paragraph (a) is reduced after the commencement. (sec.96-ssec.2) The amount decided by the Treasurer for a licensed insurer must be paid by the licensed insurer to the agency at a time decided by the Treasurer. (sec.96-ssec.3) In this section— insurer’s premium see the Insurance Act , section 4 . licensed insurer see the Insurance Act , section 4 .

• (a) the amount derived, or to be derived, by the insurer from insurer’s premiums relating to its liability, or potential liability, for damages for the treatment, care and support needs of persons covered by a CTP insurance policy; and
• (b) the extent to which the liability, or potential liability, mentioned in paragraph (a) is reduced after the commencement.