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Chapter
I
Title and Definition |
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1 |
1. These Rules shall be called the Third-Party Liability insurance
Rules.
2. The expressions contained in these Rules shall have the same meanings
as defined in the Myanma
Insurance Law.
Moreover the following expressions shall have the meanings as defined
hereunder.
(a) Third Party
means any other person than an Insured and the Insurer under these
Rules.
(b) Motor Vehicle
means a vehicle or machine capable of being driven to move by means
of mechanical,
electrical
or some other power.
(c) Insured
means a person having paid premium for Third-Party Liability
Insurance under these Rules.
(d)
Premium means a consideration payable for Third-Party
Liability Insurance.
(e) Victim
means a person who deceases, sustains injury or whose property is
damaged because of a
motor
vehicle insured. This expression also includes the legal beneficiary
to the Deceased.
(f) Property
means all properties both moveable and immoveable including an animal
except
human-
beings.
(g) Indemnity
means a sum of money determined by the Myanma Insurance as payable
to a Victim.
(h) Registration
Authority means the organization entitled to register motor
vehicles. |
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