MAI insurer to indemnify MAI insured people
295 MAI insurer to indemnify MAI insured people
An MAI policy is binding on the MAI insurer for the MAI policy.
The MAI insurer for an MAI policy is, despite any other law, liable to indemnify each MAI insured person for the MAI policy for the liability that the policy purports to insure against.
To remove any doubt, the reference to any other law in subsection (2) does not include a reference to—
section 293 (Risks not covered by MAI policy); or
a declaration made under either of the following provisions of the Road Transport (General) Act 1999:
section 12 (Power to include or exclude areas in road transport legislation);
section 13 (Power to exclude vehicles, persons or animals from road transport legislation).
This Act’s bill:Explanatory statementSecond reading speech
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