163Register to be kept by insurers

163 Register to be kept by insurers

163 Register to be kept by insurers

(cf former s 18A (2A)–(2C))

(1) A licensed insurer shall keep a register of all policies of insurance issued or renewed by the insurer containing the following particulars in respect of each policy—

(a) the name and address of the policy holder,

(b) the number of the policy,

(c) any premium rate classification under the Workers Compensation Market Practice and Premiums Guidelines,

(d) the date of issue or renewal of the policy,

(e) such other particulars as may be prescribed by the regulations.

(2) A person who ceases to be a licensed insurer shall deliver the register to the Nominal Insurer.

(3) An insurer shall retain in good order and condition for at least 7 years all the insurer’s records that relate to the issue, renewal or discontinuance of policies of insurance and the receipt, administration and payment of claims under this Act.

(4) In subsection (3)—

insurer means licensed insurer, former licensed insurer or self-insurer.

Maximum penalty—1,000 penalty units.

s 163: Am 1993 No 47, Sch 1; 2003 No 81, Sch 2 [30] [31]; 2015 No 19, Sch 5 [22].