Document ID: chunk:federal_register_of_legislation:F2024C01011:reg:14
Version: federal_register_of_legislation:F2024C01011
Segment Type: reg
Provision Reference: reg 14
Character Range: 16936–17660

14  Amount of claim handling fee for eligible run‑off claim

General rule
 (1) The amount of the claim handling fee is 5% of the run‑off cover indemnity.

Rule if high cost claim indemnity payable
 (2) However, if the underlying payment is a qualifying payment (or one of 2 or more qualifying payments), described in paragraphs 30(1)(e) and (f) of the Act (about high cost claim indemnity), of the medical indemnity provider, the amount of the claim handling fee is 5% of the sum of:
 (a) the run‑off cover indemnity; and
 (b) the amount by which the run‑off cover indemnity was reduced by a high cost claim indemnity payable in respect of the qualifying payment.

Part 4—Compulsory run‑off cover administration payments