Insurance Companies Act (S.C. 1991, c. 47)

Marginal note:Class of insurance

• 12. (1) A class of insurance is a class set out in the schedule.

• Marginal note:Reference to particular class

  (2) A reference in this Act to a particular class of insurance is a reference to the insurance of risks falling within that particular class determined in accordance with subsections (3) to (6) and the schedule.

• Marginal note:Property

  (3) A class of insurance that includes insurance against the loss of, or damage to, property includes insurance against loss of use, occupancy, rents and profits resulting from that loss or damage.

• Marginal note:Personal injuries and death

  (4) Unless specifically mentioned in the schedule, no class of insurance includes insurance against liability arising out of bodily injury to, or the death of, a natural person or the loss of, or damage to, property.

• Marginal note:Idem

  (5) A class of insurance that includes insurance against liability arising out of bodily injury to, or the death of, a natural person or the loss of, or damage to, property includes insurance against loss, damage or expenses incident to a claim giving rise to that liability.

• Marginal note:Endowments

  (6) The class of life insurance includes the issuance of endowment insurance the funds of which are to be paid at a fixed or determinable future time if the person whose life is insured is then alive or at the person’s death if the person dies before that time.

• Marginal note:Amendment

  (7) The Governor in Council may, by order, amend subsections (3) to (5) and the schedule.

Marginal note:Application of Act

• 13. (1) This Act applies to every body corporate

  • (a) that is incorporated or continued as a company under this Act, or

  • (b) to which any of the provisions of Parts I, II, III and VII and either or both of Parts IV and VI of the Canadian and British Insurance Companies Act applied immediately before the coming into force of this section

  and that is not discontinued under this Act.

• Marginal note:Application of certain provisions

  (2) This Part, Parts II to IV, sections 224, 225, 245 to 258 and 489 and Parts X, XII, XV, XVI and XVIII to XX apply to every body corporate that is not discontinued under this Act and

  • (a) that is incorporated or continued as a society under this Act; or

  • (b) to which any of the provisions of Parts I and II, Part III, except section 77, Part IV, except sections 123 to 130 and 153 to 158, and Parts V and VII of the Canadian and British Insurance Companies Act applied before June 1, 1992.