147BCompulsory insurance policy—minimum premium

147B Compulsory insurance policy—minimum premium following default notice (1) This section applies if an employer— (a) receives a default notice, or a 2nd default notice, under section 147; and (b) subsequently obtains a compulsory insurance policy issued by a licensed insurer. (2) The employer must pay to the licensed insurer at least 30% of the premium payable for the policy at the time the policy is issued.