15   Risks not insured under third-party policies

(cf s 16 MAA)

A third-party policy does not extend to insure the owner or driver of a motor vehicle against:

(a)  a liability to pay compensation under the Workers Compensation Acts (or any corresponding law of another State or a Territory of the Commonwealth) to a worker employed by the owner or driver, or

(b)  a liability which may be incurred by the owner or driver under an agreement unless the liability is one which would have arisen in the absence of the agreement.