Acts and Regulations

I-12 - Insurance Act

Section 198
Disposition versions

Full text
Statutory conditions – unpaid premiums
198(1)An insurer may
(a) deduct unpaid premiums from an amount that it is liable to pay under a contract, or
(b) sue the insured for unpaid premiums.
198(2)Where a cheque or other bill of exchange or a promissory note or other written promise to pay is given for the whole or part of a premium and payment is not made according to its tenor the premium or part thereof shall be deemed never to have been paid.
198(3)Paragraph (1)(a) does not apply to a contract of group insurance.
198(4)This section does not apply to a contract made by a fraternal society.
1968, c.6, s.198
Statutory conditions
198(1)An insurer may
(a) deduct unpaid premiums from an amount that it is liable to pay under a contract, or
(b) sue the insured for unpaid premiums.
198(2)Where a cheque or other bill of exchange or a promissory note or other written promise to pay is given for the whole or part of a premium and payment is not made according to its tenor the premium or part thereof shall be deemed never to have been paid.
198(3)Paragraph (1)(a) does not apply to a contract of group insurance.
198(4)This section does not apply to a contract made by a fraternal society.
1968, c.6, s.198