239ACMeaning and application of “threshold amount”

#### 239AC Meaning and application of “threshold amount” 239AC Meaning and application of “threshold amount” > > (1) The threshold amount is the amount of $1 million. > > > (2) The threshold amount applies to the total amount of claims referred to in this Division in respect of an act of terrorism specified in a declaration under section 239AD, and not to the amount of claims in respect of that act that are made against each individual insurer. > > > (3) The threshold amount is to be apportioned among the insurers who have a liability in respect of a claim referred to in this Division. > > > > Note. > > > > See section 239AH (6) for the insurer’s proportion of the threshold amount. > > **ss 239AA–239AD:** Ins 2002 No 123, Sch 1.