Agreements for transfer of claims to insurers
218 Agreements for transfer of claims to insurers
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.
A claims transfer agreement can relate to particular claims or classes of claims.
A claims transfer agreement entered into with a corporation may include provision for the following—
the transfer to the corporation of any assets of the Insurance Fund in connection with the liabilities transferred by the agreement,
requirements for the giving of notice to the person who is the employer in respect of a transferred claim.
This Act’s bill:Explanatory memorandum
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