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n Without Prejudice - The binding ingredient? : financial law
The Draft Binder Regulations read with the Short Term Insurance Act
When baking a cake, following the recipe is crucial and leaving out a binding ingredient, such as eggs, will cause the cake to crumble. The proposed short-term insurance binder regulations seek to avoid any crumbling, namely by regulating the insurance laws and, thereby, regulating and binding the relationship between policyholder and intermediary and insurer.
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