MOTOR ACCIDENTS COMPENSATION ACT 1999 - SECT 175 Investment of funds of licensed insurer
MOTOR ACCIDENTS COMPENSATION ACT 1999 - SECT 175
Investment of funds of licensed insurer175 Investment of funds of licensed insurer
(cf s 112 MAA)
(1) It is a condition of a licence granted under Part 7.1 that the licensed insurer, if required to do so by the Authority, must provide the Authority with details of the way in which its third-party funds and other funds are invested.
(2) The third-party funds of a licensed insurer are the funds of the insurer derived from the payment of insurance premiums for third-party policies and from their investment.