218Agreements for transfer of claims to insurers

218 Agreements for transfer of claims to insurers

218 Agreements for transfer of claims to insurers

(1) The Authority may enter into an agreement (a claims transfer agreement) with a corporation for the transfer to the corporation of the liabilities of the Nominal Insurer in respect of a claim under a policy of insurance for which the Nominal Insurer is the insurer.

(2) A claims transfer agreement can relate to particular claims or classes of claims.

(3) A claims transfer agreement entered into with a corporation may include provision for the following—

(a) the transfer to the corporation of any assets of the Insurance Fund in connection with the liabilities transferred by the agreement,

(b) requirements for the giving of notice to the person who is the employer in respect of a transferred claim.

s 218: Am 1996 No 24, Sch 1. Rep 2003 No 81, Sch 2 [66]. Ins 2012 No 53, Sch 9.1 [5].