Ctp Sharing Agreement

- September 16, 2021

With respect to all matters requiring the agreement, approval or approval of all insurers or insurers licensed in accordance with the law or this Act, all insurers or licensed insurers that represent at least 65% of the market share of all licensed insurers agree, so that all insurers or licensed insurers are deemed to have given their consent, their consent or consent, as the case may be. Where an insurer becomes aware of the fact that damage may be the subject of the distribution agreement, it shall inform the other insurers it believes it can share as soon as it becomes aware of those facts and shall communicate to those insurers reasonable information about the right. If the licensed insurers agree to enter into a mass settlement agreement, any person who obtains a licence and becomes a party to this document shall be considered a party to the mass settlement agreement from the date on which that person`s licence is issued, unless that agreement has expired or has been terminated: and that person executes a consideration for the mass settlement agreement or does any other act or thing that may be necessary or expedient to give effect to that clause. If the approved insurers so agree, they may vary the terms of the distribution agreement with the agreement of the Authority, whose authorization may not be inappropriately refused. Where all licensed insurers obtain or are likely to obtain a right to the same motor accident as a right against the nominal vehicle in respect of an unidentified motor vehicle, the nominal defendant assigns to clause 3.2 the right in respect of the unidentified motor vehicle that applies to an authorized insurer that, according to the sharing agreement, is not an insurer or that is probably not an insurer: claims arising from this car accident. The Authority shall not enter into an agreement with the Road and Road Authority in accordance with Section 13 of the Act, which provides that the total commission received by the Road and Transport Authority shall be greater than 1.5% of the insurance premiums received by the Road and Transport Authority, or that the frequency of payments to insurers shall be less than per week. . . .

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