Document ID: chunk:federal_register_of_legislation:F2024C01011:reg:67
Version: federal_register_of_legislation:F2024C01011
Segment Type: reg
Provision Reference: reg 67
Character Range: 64407–66817

67  Application of Part 6

Contracts of insurance made on or after 1 July 2020
 (1) Part 6 applies in relation to contracts of insurance made on or after 1 July 2020 for the provision of professional indemnity cover for medical practitioners in relation to premium periods starting on or after that day.

Contracts of insurance made before 1 July 2020 for premium periods starting on or after 1 July 2020
 (2) Part 6 (except section 47) also applies in relation to contracts of insurance that were made before 1 July 2020 by medical indemnity insurers that were parties to PSS contracts (within the meaning of the old scheme), so far as those contracts of insurance are for the provision of professional indemnity cover for medical practitioners in relation to premium periods:
 (a) starting on or after 1 July 2020; and
 (b) forming the whole or part of premium years starting on or after 1 July 2020.
Note: For premium periods that started before 1 July 2020, section 69 continues to apply the old scheme in relation to contracts of insurance made before 1 July 2020 by insurers that were party to PSS contracts within the meaning of the old scheme.
 (3) A medical indemnity insurer that was not a party to a PSS contract within the meaning of the old scheme may choose, by written notice given to the Chief Executive Medicare, that Part 6 apply in relation to a specified contract of insurance that:
 (a) was made by the insurer and a specified medical practitioner before 1 July 2020; and
 (b) is (at least partly) for the provision of professional indemnity cover for the medical practitioner in relation to one or more premium periods starting on or after 1 July 2020;
so far as that contract is for the provision of professional indemnity cover for the medical practitioner in relation to those premium periods.
Note: Contracts and medical practitioners may be specified by reference to classes: see subsection 33(3AB) of the Acts Interpretation Act 1901 (as it applies because of paragraph 46(1)(a) of that Act).
 (4) The choice cannot be revoked or changed.
 (5) If the medical indemnity insurer has chosen that Part 6 apply in relation to the contract, that Part, except sections 47 and 48, applies in relation to the contract so far as it is for the provision of professional indemnity cover for the medical practitioner in relation to one or more premium periods starting on or after 1 July 2020.