Document ID: chunk:federal_register_of_legislation:C2024C00534:section:8
Version: federal_register_of_legislation:C2024C00534
Segment Type: section
Provision Reference: s 8
Character Range: 37867–38647

8  IBNR exposure of an MDO
 (1) An MDO's IBNR exposure at a particular time is the total amount, at that time, of the payments that the MDO is likely to have to make after that time in relation to all claims that relate to incidents that satisfy subsection (2).
 (2) An incident satisfies this subsection if:
 (a) the incident occurred on or before 30 June 2002; and
 (b) the incident occurred in the course of, or in connection with, the practice of a medical profession by a person; and
 (c) on 30 June 2002, the person had incident‑occurring based cover with the MDO for the incident; and
 (d) the MDO:
 (i) was not notified of the occurrence of the incident; and
 (ii) was not notified of any claim against or by the person in relation to the incident;
  before 1 July 2002.