Section 4Part 0 —
Requirements in respect of policies
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In order to comply with this Law, the policy of insurance shall be a policy which —
is issued by a person who is an insurer;
insures such person, persons or classes of persons, as may be specified in the policy in respect of any liability specified in paragraph (d) which may be incurred by him or them in respect of the death of, or bodily injury to, any person or persons caused by, or arising out of, the use of the vehicle on a road;
insures such person, persons or classes of persons, as may be specified in the policy in respect of any liability which may be incurred by him or them in respect of the damage to any property caused by, or arising out of, the use of the vehicle on a road; and
covers liability —
of not less than one million dollars in respect of the death of, or bodily injury to, any person; and
of not less than five million dollars in the aggregate in any one event:
Provided that such a policy shall not be required to cover —
liability in respect of the death arising out of, and in the course of his employment of a person in the employment of a person insured by the policy, or of bodily injury sustained by such a person arising out of, and in the course of his employment;
any contractual liability;
liability in respect of the first fifty dollars of any claim by any one person;
liability exceeding in the aggregate two hundred and fifty thousand dollars in respect of the damage to any property arising out of any claim or claims in respect of any one event;
property in or on the vehicle insured by the policy;
property belonging to, held in trust by, or in the custody or control of the person insured;
liability in respect of damage to the vehicle insured by the policy;
liability in respect of the death of or bodily injury to a passenger on a motor cycle arising out of the use on a road of the said motor cycle;
liability in respect of the death of, or bodily injury to, the hirer or passenger in or on a vehicle which is let out on hire; or
liability in respect of the death of or injury to any person being a passenger in a vehicle, except such passenger is seated in a seat fitted to the vehicle by the manufacturer thereof for the purpose of accommodating passengers.
Notwithstanding any rule of law or anything in any other law to the contrary, a person issuing a policy of insurance under this section shall be liable to indemnify the persons or classes of persons specified in the policy, in respect of any liability which the policy purports to cover, in the case of these persons or classes of persons.
A policy shall be of no effect for the purposes of this Law unless and until there is issued by the insurer in favour of the person by whom the policy is effected, a certificate (in this Law referred to as a "certificate of insurance") in the prescribed form and containing such particulars of any conditions subject to which the policy is issued and of any other matters as may be prescribed in relation to different cases or circumstances.
Defined Terms
certificate of insurance