New South Wales Consolidated Acts

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Meaning and application of "threshold amount"

239AC Meaning and application of "threshold amount"

(1) The threshold amount is the amount of $1 million.
(2) The threshold amount applies to the total amount of claims referred to in this Division in respect of an act of terrorism specified in a declaration under section 239AD, and not to the amount of claims in respect of that act that are made against each individual insurer.
(3) The threshold amount is to be apportioned among the insurers who have a liability in respect of a claim referred to in this Division.
Note : See section 239AH (6) for the
"insurer's proportion of the threshold amount" .

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