Aggregating amounts paid or payable by an MDO and medical indemnity insurer
34ZE Aggregating amounts paid or payable by an MDO and medical indemnity insurer
This section applies if:
an MDO pays, or is liable to pay, an amount in relation to a claim; and
a medical indemnity insurer also pays, or is also liable to pay, an amount in relation to the same claim (the insurer amount); and
but for this section, a run‑off cover indemnity in respect of the insurer amount would be payable to the insurer under section 34ZC; and
the medical indemnity insurer elects in writing to have this section apply to the insurer amount.
For the purposes of this Division (other than this section):
the MDO is taken:
to have paid, or to be liable to pay, the insurer amount in relation to the claim; and
to satisfy paragraphs 34ZC(1)(a) to (e) in relation to the insurer amount; and
a run‑off cover indemnity is not payable to the medical indemnity insurer in respect of the insurer amount.
This Act’s bill:Explanatory memorandumSecond reading speech
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