160Certificate of currency

160 Certificate of currency (1) This section applies if an employer asks a licensed insurer, in writing, for a certificate (a certificate of currency) for a compulsory insurance policy held by the employer with the insurer. (2) Not later than 5 business days after the day the licensed insurer receives the request, the insurer must give the employer a certificate of currency if— (a) the employer has not been given a certificate of currency for the policy within the last 6 months; or (b) the employer has been given a certificate of currency for the policy within the last 6 months, but either— (i) the details of the risk covered by the policy have changed since the certificate was issued; or (ii) the employer reasonably requires another certificate. Example of reasonably requiring another certificate the previous certificate has been destroyed in a fire (3) The certificate of currency must— (a) state the details given by the employer to the licensed insurer under section 155 (Information for licensed insurers on application for issue or renewal of policies); and (b) state the period for which the employer is insured under the policy; and (c) state the period of up to 12 months for which the certificate is current. (4) However, the licensed insurer need not give the employer a certificate of currency if— (a) the employer is in default under the insurance policy held by the employer with the insurer; and (b) the insurer has told the employer, or tells the employer not later than 5 business days after the day the employer asks for the certificate, that the employer is in default under the policy.