369
In forceResolution of motor accident claims
Chapter 7MAI insurer licences
Part 7.4MAI insurer licences—conditions
369 Resolution of motor accident claims
(1)
It is a condition of an MAI insurer licence that the licensed insurer resolve motor accident claims as soon as practicable.
(2)
A licensed insurer is taken not to have contravened the condition mentioned in subsection (1) if the insurer establishes that—
(a)
the insurer gave a report to the MAI commission within a reasonable period after the condition is contravened; and
(b)
the report sets out reasonable grounds for justifying the contravention.
This Act’s bill:Explanatory statementSecond reading speech
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