Long Title |
The purpose of this Bill is to -
enable the Minister for Government Enterprises to vary the Scales of Premiums for compulsory third party (CTP) insurance on more than one occasion in any financial year, should it be deemed necessary; remove a means by which an Incorporated Insurance Office, as defined under the Workers' Compensation and Injury Management Act 1981, can transfer risk intended to be insured under a workers' compensation/employers' indemnity policy, to the compulsory Third Party Insurance Fund (TPIF); and
introduce a cap on all economic loss for all motor vehicle personal injury claims, consistent with the outcome of the Civil Liability Act 2002. |