s 40 Interpretation of this Part
40. In this Part —“appointed insurer” means any person who is licensed under the Insurance Act 1966 to carry on insurance business in Singapore and who is appointed by the Board to take over the whole or any part of the Board’s liabilities under the Scheme or to provide insurance cover to any person under the Scheme; “incapacitated” has the meaning given by section 28; “insured person” means a person who is insured under the Scheme; “insured sum” means the sum prescribed in regulations made under this Part which is payable on the incapacity or death of the insured person; “premium” means the annual premium payable by an insured person; “Scheme” means the Dependants’ Protection Insurance Scheme established and maintained by the Board under section 41; “serious illness”, in relation to an insured person, means any illness that —(a) is likely to result in a claim under that insured person’s insurance cover under the Scheme; and (b) the Board has specified for the purposes of section 43(1), in a manner accessible to the insured person, as a serious illness which the insured person must disclose to the Board.[11/2013; 6/2016]