Reimbursement of compensation—insurance policies
9 Reimbursement of compensation—insurance policies
If a person liable to pay an amount to the board under subsection (3) of section 8E (which was inserted by the amending Act) or required to indemnify the board for an amount under subsection (4) of that section is or was covered by a policy of insurance or indemnity (issued or effective before the commencement of that section) in respect of the damages recovered or recoverable by another person, the following provisions have effect—
The policy is taken also to cover that liability to pay the amount to the board or that requirement to indemnify the board.
However, the policy remains subject to any monetary limits in respect of the maximum amount payable by the insurer in respect of any relevant cause of action.
Subclause (1) applies in relation to causes of action arising before but not after the commencement of section 8E.
However, subclause (1) does not apply in relation to a cause of action where proceedings were determined before the commencement of section 8E.
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