Examples of SPF Manager in a sentence
Every firm that holds ARP coverage shall be required to report or notify any claim or circumstance required to be reported or notified pursuant to its ARP coverage to the SPF manager within any time prescribed therefor under that ARP coverage.
A risk management auditor who conducts a risk management audit in relation to a firm shall, as soon as practicable thereafter, furnish a written risk management audit report to the SPF manager and to the SPF management committee.
The ARP premium payable by any firm in respect of whose practice an ARP coverage is to be issued from time to time, shall be calculated by the SPF manager in accordance with the ARP premium schedule.
Every firm that applies to enter the assigned risks pool shall provide to the SPF manager such information as the SPF manager may from time to time in its discretion reasonably require to progress the firm’s application for entry to the assigned risks pool and otherwise to deal efficiently and effectively with the firm’s membership of the assigned risks pool.
Where a firm applies for membership of the assigned risks pool but is not permitted to enter the assigned risks pool, that firm shall be required to indemnify the Law Society, the SPF manager and the SPF management committee on demand in respect of any costs, fees, expenses, losses or liabilities incurred by the Law Society, the SPF manager and the SPF management committee in relation to its application.
A firm which intends to cease practice shall provide the SPF manager with a written notice of its intention to cease practice at least 60 (sixty) days, or such other period as the PII committee may from time to time determine, prior to ceasing practice and at least 60 (sixty) days, or such other period as the PII committee may from time to time determine, prior to the expiry of its coverage period, whichever is the earlier.
The PII committee may establish sub-committees to carry out some or all of its functions, or delegate some or all of its functions to an executive of the Law Society, the SPF management committee or the SPF manager.
The members of the SPF management committee shall be appointed by the Law Society and shall comprise the SPF manager, two (2) representatives of the Law Society and one (1) representative of each of the two (2) participating insurers with the largest relevant premium income for that indemnity period as calculated in accordance with Schedule 2 of the participating insurers agreement.
An ARP eligible firm that has applied in the manner prescribed by these Regulations to enter the assigned risks pool will be issued by the SPF manager with an ARP coverage.
Any arrangements made by the SPF manager pursuant to this Regulation 6( a) in respect of defaulting run-off firms shall not be regarded as run-off cover for the purposes of satisfying Regulation 5(a).