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Insurance Companies Act

Version of section 12 from 2007-04-20 to 2024-03-06:


Marginal note:Class of insurance

  •  (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.

  • 1991, c. 47, s. 12
  • 2007, c. 6, s. 188

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