Insurance Companies Act
572 (1) This Part does not apply in respect of
(a) the insurance of risks falling within the class of marine insurance;
(b) the insurance against injury to persons or loss of or damage to property, or liability for such injury, loss or damage, caused by nuclear energy, including ionizing radiation and contamination by radioactive substances, to the extent that, in the opinion of the Superintendent, that insurance is not available within Canada;
(c) the insurance of risks by a body corporate incorporated elsewhere than in Canada falling within the class of fire insurance, if the property is situated in Canada and
(i) that insurance is effected outside Canada and without any solicitation in Canada, directly or indirectly, on the part of the body corporate,
(ii) the body corporate does not advertise its business in any newspaper or other publication within Canada or by circular mailed in Canada or elsewhere, and
(iii) the body corporate does not maintain an office or agency in Canada for the receipt of applications relating in any way to its business or for any related matter; or
(d) the collection of premiums on, or other business relating to, a policy of life insurance issued to a person not resident in Canada at the time of the issuance of the policy.
Marginal note:Fire insurance
(2) A body corporate incorporated elsewhere than in Canada that insures risks falling within the class of fire insurance in respect of which this Part does not apply by reason of paragraph (1)(c) may, in respect of that insurance on property situated in Canada, inspect the property and adjust any loss incurred in respect of it.
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