Motor Vehicle Insurance (Third Party Risks) Law MOTOR VEHICLE (THIRD PARTY RISKS)

CAYMAN ISLANDS Motor Vehicle Insurance (Third Party Risks) Law MOTOR VEHICLE (THIRD PARTY RISKS) REGULATIONS (1997 Revision) Supplement No. 10 published with Gazette No. 6 of 16th March, 1998. PUBLISHING DETAILS Revised under the authority of the Law Revision Law (19 of 1975). The Motor Vehicle Insurance (Third Party Risks) Regulations, 1991 made the 10th July, 1991. Revised this 9th day of September, 1997. Page 2 Revised as at 9th day of September, 1997 c Motor Vehicle (Third Party Risks) Regulations Arrangement of Regulations CAYMAN ISLANDS Motor Vehicle Insurance (Third Party Risks) Law MOTOR VEHICLE (THIRD PARTY RISKS) REGULATIONS (1997 Revision) Arrangement of Regulations Regulation Page 1. Citation ......................................................................................................................................5 2. Definitions ..................................................................................................................................5 3. Insurer to issue policy in respect of specified vehicles ...............................................................5 4. Policy and certificate to be authenticated ...................................................................................5 5. Certificate shall be printed on white paper .................................................................................6 6. Insurer to preserve particulars of certificate of policy issued.......................................................6 7. Insurer to notify Commissioner of Police of expiry date of policy ................................................6 8. Policy to be returned to insurer ..................................................................................................6 9. Issue of fresh certificate .............................................................................................................7 10. Offence and penalty ...................................................................................................................7 SCHEDULE 9 FORMS 9 c Revised as at 9th day of September, 1997 Page 3 Motor Vehicle (Third Party Risks) Regulations Regulation 1 CAYMAN ISLANDS Motor Vehicle Insurance (Third Party Risks) Law MOTOR VEHICLE (THIRD PARTY RISKS) REGULATIONS (1997 Revision) 1. Citation 1. These regulations may be cited as the Motor Vehicle (Third Party Risks) Regulations (1997 Revision). 2. Definitions 2. In these regulations — “certificate” means a certificate of insurance issued under regulation 3; and “policy” means any policy of insurance, certificate of insurance or cover note in respect of third party risks arising out of the use of motor vehicles which complies with the requirements of the Law. 3. Insurer to issue policy in respect of specified vehicles 3. An insurer shall issue to every policy holder a policy relating to a specified vehicle or vehicles a certificate in Form A, or a cover note in Form B, in the Schedule hereto in respect of each vehicle. 4. Policy and certificate to be authenticated 4. Every policy and certificate of insurance shall be duly authenticated by or on behalf of the insurer by whom it is issued and shall bear the date of issue. c Revised as at 9th day of September, 1997 Page 5 Regulation 5 Motor Vehicle (Third Party Risks) Regulations 5. Certificate shall be printed on white paper 5. (1) Every certificate issued under the Law and these regulations shall be printed on white paper or similar material. (2) No certificate so issued shall contain any advertising matter either on the face or on the back thereof: Provided that the name and address or a reproduction of the seal or monogram or similar device of the insurer, insurance agent or broker shall not be deemed to be advertising matter for the purpose of this regulation if it is printed or stamped on the foot, top or back of such certificate. 6. Insurer to preserve particulars of certificate of policy issued 6. (1) Every insurer by whom a policy is issued shall keep a record of the following particulars relative thereto and of any certificate issued in connection therewith — (a) the full name and address of the person to whom the policy or certificate is issued; (b) in the case of a policy of insurance relating to a specified motor vehicle or vehicles, the registration number of each such motor vehicle; (c) the date on which the policy comes into force and the date on which it expires; and (d) in the case of a policy, the conditions subject to which the persons or classes of persons specified in the policy will be indemnified. (2) Every record shall be preserved for three years from the date of expiry of the policy or certificate. 7. Insurer to notify Commissioner of Police of expiry date of policy 7. Where, to the knowledge of an insurer, any policy issued by him has ceased to be effective without the consent of the person to whom it was issued otherwise than by effluxion of time or death, the insurer shall forthwith notify the Commissioner of Police of the date on which the policy ceased to be effective. 8. Policy to be returned to insurer 8. Where, with the consent of the person to whom it was issued, a policy or certificate is transferred, suspended or ceases to be effective otherwise than by effluxion of time, such person shall forthwith return the policy or certificate to the insurer by whom it was issued and a new policy shall not be issued to that person nor shall the policy be transferred to any other person unless and until the policy or certificate has been returned to the insurer or the insurer is satisfied that it has been lost or destroyed. Page 6 Revised as at 9th day of September, 1997 c Motor Vehicle (Third Party Risks) Regulations Regulation 9 9. Issue of fresh certificate 9. (1) Where any insurer by whom a certificate of insurance has been issued is satisfied that the certificate has become defaced or has been lost or destroyed, he shall, if requested to do so by the person to whom the certificate was issued, issue to him a fresh certificate. (2) Every statutory declaration made for the purpose of section 14 shall be delivered to the insurer in like manner as though it were a certificate. 10. Offence and penalty 10. Whoever contravenes or fails to comply with these regulations is, subject to section 14, guilty of an offence and liable on summary conviction, for each offence, to a fine of five hundred dollars. c Revised as at 9th day of September, 1997 Page 7 Motor Vehicle (Third Party Risks) Regulations SCHEDULE SCHEDULE FORMS Form A CAYMAN ISLANDS MOTOR VEHICLE INSURANCE (THIRD PARTY RISKS) LAW (1997 Revision) (Reg. 3) CERTIFICATE OF INSURANCE CERTIFICATE NO. 1. Registration number of vehicle insured 2. Name of policy holder 3. Effective date of insurance 4. Date of expiry of insurance 5. Persons or classes of persons entitled to drive 6. Limitations as to use I/WE hereby certify that the policy to which this certificate relates is issued in accordance with the provisions of the above-mentioned Law. Issued the...............day of..................................., 19....... Per...................................... (Insurer) c Revised as at 9th day of September, 1997 Page 9 SCHEDULE Motor Vehicle (Third Party Risks) Regulations Form B CAYMAN ISLANDS MOTOR VEHICLE INSURANCE (THIRD PARTY RISKS) LAW (1997 Revision) COVER NOTE Number................................... Date...............................19 .... Mr./Mrs./Ms......................................... having proposed for insurance in respect of the motor vehicle described in the Schedule and having paid the sum of.................... the risk is hereby held covered in terms of the Company’s usual form of policy applicable thereto for a period of fifteen days, that is to say, from..................... a.m./p.m. on the above date to the same time on the fifteenth day after such date unless the cover is terminated by the Company by notice in writing in which case the insurance will thereupon cease and a proportionate part of the annual premium otherwise payable for such insurance will be charged for the time the Company has been on risk. SCHEDULE Make Horse Power or Registration Used only for the C.C. Number, Chassis or following purposes Frame Number (if known) I/WE hereby certify that this covering note is used in accordance with the provisions of the above-mentioned Law. Per ........................................... (Insurer) Publication in revised form authorised by the Governor in Council this 9th day of September, 1997. Carmena H. Parsons Clerk of Executive Council Page 10 Revised as at 9th day of September, 1997 c