Acts and Regulations

I-12 - Insurance Act

Section 230.1
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Statutory conditions – termination of contract by virtue of statutory condition 8 of section 230
230.1(1)An insurer shall not terminate a contract by virtue of statutory condition 8 of section 230 except for one or more of the following reasons:
(a) non-payment of, or any part of, the premium due under the contract or of any charge under any agreement ancillary to the contract;
(b) the insured has knowingly given false particulars of the described automobile to the prejudice of the insurer;
(c) the insured has knowingly misrepresented or failed to disclose in an application for insurance any fact required to be stated therein; or
(d) material change in risk within the meaning of statutory condition 1 of section 230.
230.1(2)Subsection (1) applies only to a contract that has been in effect for more than sixty days and that insures a natural person in respect of an automobile of the private passenger or station wagon type, but does not apply to a contract insuring such a person in respect of an automobile used in the course of carrying on a business, trade or profession.
230.1(3)Subsection (1) does not apply to an insurer running off its business where the insurer has the specific approval of the Superintendent to cancel a contract.
1980, c.27, s.5