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Environmental Planning and Assessment Regulation 2000
Historical version for 15 July 2001 to 13 December 2001 (accessed 29 January 2020 at 10:05) Current version
(cf clause 81U of EP&A Regulation 1994)
(1) An automatic run-off contract must not require the insured to bear a greater proportion of the liability under any single claim than the prescribed excess.(2) Nothing in this clause prevents an automatic run-off contract from providing for a counter-indemnity from the insured to the insurer.(3) In this clause:prescribed excess, in relation to a claim paid by an insurer under an automatic run-off contract, means:(a) $5,000, orwhichever is the greater.(b) 5 per cent of the insured’s gross income during the financial year preceding the beginning of the term of the contract,financial year means the period of 12 months ending 30 June.