“A qualifying person may be :
(i) an insured of the insolvent insurer eligible for protection under the Protection and Compensation Fund Regulations; or
(ii) a person other than the policyholder to whom payment in respect of any sums falling due under the policy could have been made in accordance with the policy; or
(iii)a person to whom the insolvent insurer is liable to pay a sum or other consideration in respect of the insured’s legal liability to such person under the policy of insurance.
