New South Wales Repealed Regulations

This legislation has been repealed.

INSURANCE APPROVAL ORDER 2001 - REG 4

4 Notification by insurer

An insurer must satisfy the following notification requirements to be, or continue to be, a notified insurer for the purposes of this Order:

(a) the insurer notifies the Director-General in writing by the dates specified in this clause as follows:

(i) that the insurer will be providing professional indemnity insurance directly to medical practitioners practising in NSW under individual contracts or discretionary arrangements with those medical practitioners during the period specified in the notification, and

(ii) the category or categories of professional indemnity insurance under clause 2 (2) which the insurer will be providing, and

(iii) that the insurer understands it is required to comply with any insurance regulation order in effect while providing such professional indemnity insurance.

(b) such notification is initially made by the following date:

(i) in the case of an insurer that was providing professional indemnity insurance directly to medical practitioners practising in NSW immediately prior to 1 January 2002 and that will be providing professional indemnity insurance to non-exempt medical practitioners from 1 January 2002, that date, unless another date has been approved by the Director-General in any particular case, or

(ii) in any other case, by no later than 28 days prior to the date that an insurer proposes to commence offering approved professional indemnity insurance to medical practitioners practising in NSW, unless another date has been approved by the Director-General in any particular case,

(c) Following the initial notification, such notification is made by either 1 July in each year or 1 January in each year in respect of the ensuing 12 month period. The insurer is to elect one of these two annual notification dates at the time of initial notification.