WORKERS COMPENSATION ACT 1987 - SECT 239AC
Meaning and application of "threshold amount"
WORKERS COMPENSATION ACT 1987 - SECT 239AC
Meaning and application of "threshold amount"
239AC Meaning and application of "threshold amount"
(1) The threshold amount
is the amount of $1 million.
(2) The threshold amount applies to the total
amount of claims referred to in this Division in respect of an act of
terrorism specified in a declaration under section 239AD, and not to the
amount of claims in respect of that act that are made against each individual
insurer.
(3) The threshold amount is to be apportioned among the insurers who
have a liability in respect of a claim referred to in this Division.
Note :
See section 239AH (6) for the
"insurer's proportion of the threshold amount" .
