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I-12
- Insurance Act
Detailled Table of Contents
Document at 1 January 2009
Insurance Act
1
Definitions
PUBLIC POLICY RULE
2
Public policy rule
I
SUPERINTENDENT AND HIS DUTIESSUPERINTENDENT OF INSURANCE
3
Superintendent of insurance
4
Powers of Superintendent
5
Oaths
6
Shareholder
7
Superintendent of insurance
BOOKS AND RECORDS
8
Books and records
9
Books and records
DUTIES RESPECTING LICENCES
10
Duties respecting licences
11
Decision of Superintendent
12
Duties respecting licences
INVESTIGATION OF INSURERS
13
Inquiry
14
Access to documents
15
Information relative to a contract
16
Investigation of insurers
SERVICE OF PROCESS
17
Service of process
17.1
Copies to be filed with the Superintendent
ANNUAL REPORT
18
Annual report
APPEAL FROMSUPERINTENDENT’S DECISION
19
Appeal from superintendent’s decision
I.1
NEW BRUNSWICK INSURANCE BOARD
19.1
Definitions
19.2
Establishment of Board
19.21
Terms of office and revocation of appointments
19.22
Remuneration and expenses
19.23
Oath of office
19.24
Continuation in office
19.25
Chief executive officer
19.3
Powers and functions of the Board
19.31
Constitution of the Board: panels
19.32
Constitution of the Board: discretion of the Chairperson
19.33
Orders and decisions of the Board
19.4
Policies and rules to be followed by the Board
19.41
Powers of inquiry
19.5
Authority of Board to contract
19.51
Authority of Board to appoint
19.6
Privilege of Board members and employees
19.61
Confidentiality
19.7
Information to be provided to Board
19.71
Notice of hearings
19.81
Assessment of expenses
19.9
Report of the Board
19.91
Transitional provisions
19.92
Transitional provisions – proceeding, hearing, matter or thing commenced
19.93
Transitional provisions – documentation, information, records and files
19.94
Transitional provisions – proceeding, hearing, matter or thing dealt with and completed
19.95
Regulations
II
GENERAL PROVISIONS APPLICABLE TOINSURERS IN NEW BRUNSWICK
CARRYING ON BUSINESS
20
Carrying on business
OFFICIAL LANGUAGES
20.1
Forms and documents
20.2
Official languages
LICENCES
21
Licences
22
Reinsuring the risk
23
Licences
24
Licences
25
Licences
25.1
Loan and Trust Companies Act
26
Notice of application for licence
27
Filings in office of Superintendent
28
Licences
29
Licences
30
Issuance of licence
CANCELLATION OF LICENCE
31
Undisputed claim or final judgment unpaid
32
Cancellation of licences
33
Cancellation of licences
34
Suspension or cancellation of licence by any government in Canada
35
Cancellation of licences
36
Cancellation of licences
DEPOSITS
37
Deposits
38
Deposits
39
Deposits
40
Deposits
41
Deposits
42
Deposits
ADMINISTRATION OF DEPOSIT
43
Definitions
44
Administration of deposit
45
Administration of deposit
46
Administration of deposit
47
Administration of deposit
48
Administration of deposit
49
Administration of deposit
50
Administration of deposit
51
Administration of deposit
52
Administration of deposit
53
Administration of deposit
54
Administration of deposit
55
Administration of deposit
56
Administration of deposit
57
Administration of deposit
58
Administration of deposit
59
Administration of deposit
60
Administration of deposit
61
Administration of deposit
62
Administration of deposit
63
Administration of deposit
64
Administration of deposit
RECIPROCAL DEPOSITS
65
Reciprocal deposits
66
Reciprocal deposits
67
Reciprocal deposits
68
Reciprocal deposits
69
Reciprocal deposits
70
Reciprocal deposits
INVESTMENTS
71
Investments
BOOKS OF INSURERS
72
Books of insurers
73
Books of insurers
RECORDS AND RETURNS
74
Records and returns
75
Records and returns
76
By-laws
77
Records and returns
78
Records and returns
79
Records and returns
80
Statements differing from annual statement
81
Warranty or guarantee
LIFE INSURANCE RESERVES
82
Life insurance reserves
INSURANCE WITH UNLICENSEDINSURERS
83
Fire loss
84
Exception
UNDERWRITERS’ AGENCIES
85
Underwriters’ agencies
FORFEITURE FOR NON-USER ORDISCONTINUANCE
86
Forfeiture for non-user or discontinuance
WINDING-UP
87
Winding-up
88
Person contracted with on cash plan
89
Reinsurance of contracts
90
Insurance branch of corporation
91
Winding-up
92
Renewing or extending licence
COMPENSATION ASSOCIATIONS
92.1
Definition of “compensation association”
92.2
Compensation associations
92.3
Compensation associations
PENALTIES
93
Penalties
FEES AND REGULATIONS
94
Fees and regulations
95
Fees and regulations
III
INSURANCE CONTRACTS INNEW BRUNSWICK
96
Insurance contracts in New Brunswick
97
Idem
POLICY OF INSURANCE
98
Terms and conditions
99
Application for insurance
100
Non-compliance or imperfect compliance
101
Contents
102
Contract binding
LOSS UNDER POLICY
103
Loss under policy
104
Recovery by action
104.1
Third party to an action
105
Multiple claims or rights, apportionment of sums, payment in foreign jurisdiction
106
Sufficient discharge
107
Condition re appraisal
108
Lawful money
109
Waiver of term or condition
110
Relief against forfeiture or avoidance
111
Timing re bringing of action
NOTICES
112
Notices
INSURANCE ASCOLLATERAL SECURITY
113
Insurance as collateral security
114
Idem
CONTRACTS COUNTERSIGNEDBY AGENT
115
Contracts countersigned by agent
116
Blank policy or contract of insurance, power of attorney
MISCELLANEOUS
117
Miscellaneous
118
Inducing person to insure with insurer
119
Repealed
120
Special rate for the insurance of two or more vehicles
120.1
Withdrawing from automobile insurance business
120.2
Offence
120.3
Regulations
121
Facility Association
121.1
Obligations of Facility Association
121.2
Assessments for operating costs
121.3
Insurance rates to be approved by New Brunswick Insurance Board
121.31
Repealed
121.4
Information and financial statements to be furnished to Superintendent
121.5
Capacity of Facility Association
121.6
Articles and by-laws to be filed with Superintendent
121.7
Articles and by-laws of no effect until filed
121.8
The Facility Association...
121.9
Continuation of obligations of Facility Association
121.91
Risk sharing pools
IV
FIRE INSURANCE
122
Loss of or damage to property arising from the peril of fire
123
Fire insurance
124
Renewal
125
Policy in accordance with terms of application
126
Loss payable to person other than insured
127
Statutory Conditions
127.1
Statutory conditions – termination of contract by virtue of statutory condition 5 of section 127
128
Statutory conditions – clause which may limit amount payable
129
Statutory conditions – more than one contract covering same interest
130
Statutory conditions – exclusion, stipulation, condition or warranty
131
Statutory conditions – subrogation, dividing amount recovered proportionately
V
LIFE INSURANCE
132
Definitions
APPLICATION OF PART
133
Application of part
134
Application of part – contract of group insurance
ISSUANCE OF POLICY AND CONTENTSTHEREOF
135
Policy and contents
136
Particulars in policy – general
137
Particulars in policy – contract of group insurance or creditor’s group insurance
138
Particulars in certificate or document – contract of group insurance
CONDITIONS GOVERNING FORMATIONOF CONTRACT
139
No insurable interest, person under the age of 16 years
140
Insurable interest
141
Conditions governing formation of contract
142
Premium and payment not made according to its tenor, remittance
143
Payment of premiums
144
Disclosure by applicant and person whose life is to be insured
145
Failure to disclose or misrepresentation by applicant or person whose life is to be insured
146
Failure to disclose or misrepresentation by insurer
147
Misrepresentation re age
148
Misrepresentation re age in contract of group insurance or creditor’s group insurance
149
Suicide
150
Reinstatement of contract
DESIGNATION OF BENEFICIARIES
151
Designation of personal representative or beneficiary
152
Designation of beneficiary irrevocably
153
Designation in a will or instrument purporting to be a will
154
Appointment of trustee
155
Share in insurance money
156
Payment of insurance money
157
Insurance money payable
DEALINGS WITH CONTRACT DURINGLIFETIME OF INSURED
158
Beneficiary not designated irrevocably or consent
159
Dividends or bonuses
160
Rights and interests of insured
161
Assignee of contract
162
Group life insured
MINORS
163
Minor who has attained the age of 16 years
164
Minor who has attained the age of 18 years
PROCEEDINGS UNDER CONTRACT
165
Payment of insurance money
166
Where insurance money is payable
167
Action on a contract
168
Limitation period
169
Instrument or order of a court affecting right to receive insurance money
170
Declaration as to the sufficiency of evidence
171
Declaration as to the presumption of death
172
Order respecting payment of insurance money and costs
173
Stay of pending action
174
Appeal
175
Further order
176
Ex parte application
177
Simultaneous deaths
178
Money payable in instalments
179
Insurer holding insurance money
180
Order as to distribution of money
181
Costs
182
Proceedings under contract
183
Payment to representative
MISCELLANEOUS PROVISIONS
184
Not an agent
185
Notice or instrument that affects insurance money
VI
ACCIDENT AND SICKNESS INSURANCE
186
Definitions
187
Accident and sickness insurance
188
Application of Part – contract of group insurance
189
Policy
190
Particulars in policy – general
191
Particulars in policy – contract of group insurance
191.1
Accident and sickness insurance
192
Particulars in certificate or document – contract of group insurance
193
Exception or reduction
194
Statutory conditions
195
Statutory conditions
196
Statutory conditions
197
Statutory conditions – initial or renewal premium or part of it not paid
198
Statutory conditions
199
Statutory conditions – insurable interest
200
Statutory conditions – no insurable interest, person under the age of 16 years
POLICIES ON LIVES OF MINORS
201
Policies on lives of minors
MISREPRESENTATION AND NON-DISCLOSURE
202
Disclosure by applicant and person whose life is to be insured
203
Failure to disclose or misrepresentation by applicant or person whose life is to be insured
204
Failure to disclose or misrepresentation at the time of reinstatement of a contract
205
Pre-existing disease or physical condition
206
Misrepresentation re age
BENEFICIARIES
207
Designation of personal representative or beneficiary, designation in a will or instrument purporting to be a will
208
Share in insurance money
209
Appointment of trustee
210
Instrument or order of a court affecting right to receive insurance money, assignment
211
Insurance money payable
212
Enforcing right of group person
213
Simultaneous deaths
214
Ex parte application
215
Beneficiaries
216
Payment to representative
217
Payment to relative or other person
218
Where insurance money is payable
219
Action in the Province
220
Notice or instrument that affects insurance money
221
Undue prominence to provision
222
Relief against forfeiture or avoidance, confinement of insured
223
Not an agent
VII
AUTOMOBILE INSURANCE
224
Definitions
225
Automobile insurance
APPROVAL OF FORMS
226
Approval of forms
APPLICATION AND POLICY
227
Not an agent
228
Application and policy
229
Right to recover indemnity forfeited, statements in defence of a claim
229.1
Prohibited grounds
230
Application and policy
230.1
Statutory conditions – termination of contract by virtue of statutory condition 8 of section 230
231
Statutory conditions – application
MOTOR VEHICLE LIABILITY POLICIES
232
Contract evidenced by owner’s policy
233
Contract evidenced by non-owner’s policy
234
Not owner of automobile
235
Application of sections 232 and 233
236
Person insured by but not named in contract
237
Content of contract
238
Liability arising from contamination of property being carried in an automobile
239
Insurer not liable
240
Liability re business and property
241
Liability re machinery or apparatus
242
Motor vehicle liability policies
LEVY
242.1
Imposition of levy
242.2
Repealed
242.3
Estimate and payment of levy
242.4
Re-evaluation of levy
242.5
Repealed
LIABILITY COVERAGE
242.6
Licence revocation
242.7
Interest
242.8
Administrator
242.9
Reinsurance
243
Limit of liability
244
Liability coverage
245
Excess contract
246
Agreement re reimbursement
247
Liability coverage
248
Liability coverage
249
Liability coverage
250
Liability coverage
251
Notice to insurer, disclosure to judgment creditor
PHYSICAL DAMAGE COVER
252
Exclusions and limitations
253
Partial payment of loss clause
254
Physical damage coverage
DIRECT COMPENSATION -PROPERTY DAMAGE
254.1
Direct compensation — property damage
254.2
Regulations
LIMITED ACCIDENT INSURANCES
255
Limited accident insurance
256
Limited accident insurance
257
Limited accident insurance
258
Limited accident insurance
259
Person insured by but not named in contract
260
Person entitled to benefits
261
Ex parte application
262
Limitation period
263
Particulars of insurance available to claimant
264
Contract includes
OTHER INSURANCE
265
Other Insurance
DAMAGES
265.1
Definition
265.2
Effect of failure to wear a seat belt on damages recoverable
265.21
Soft tissue and minor personal injury
265.3
Calculation of damages for loss of income
265.4
Calculation of damages for loss of income
265.5
Pre-judgment interest not to be awarded on damages for non-pecuniary losses
265.6
Interim payment of special damages
SUBROGATION
266
Subrogated to all rights of recovery
266.1
Application of sections 266.1 to 266.993
266.2
Application to Facility Association for payment of damages
266.3
Application to Facility Association for payment of amounts in respect of judgment
266.4
Conditions precedent to payment
266.5
Objection to payment
266.6
Application to court for order directing payment
266.7
Conditions precedent to order
266.8
Notice of default of defendant
266.9
Assignment of judgment
266.91
Action against Party Unknown
266.92
Conditions precedent to action
266.93
Rights of Facility Association
266.94
Limitation period after dismissal
266.95
Joining of Party Unknown
266.96
Action for declaratory judgment
266.97
Judgment against Party Unknown
266.98
Amount payable by Facility Association
266.99
Costs
266.991
Practice and procedure of The Court of Queen’s Bench of New Brunswick
266.992
No application for damages to be made by governments
266.993
Owners and drivers deemed to be
266.994
Regulations
267
Subrogation
RATES FOR AUTOMOBILE INSURANCE
267.1
Definitions and application
267.11
General supervision of rates
267.2
Rates for automobile insurance
267.21
Repealed
267.3
Rates not permitted by Act
267.4
Repealed
267.41
Information relating to rates
267.5
Investigation of rates
267.51
Appearance before Board
267.6
Repealed
267.7
Rates for automobile insurance
267.8
Copy of decision or order
267.81
Repealed
267.82
Repealed
267.83
Repealed
REGULATIONS
267.9
Regulations
VIII
LIVESTOCK INSURANCE
268
Application of Part
269
Coverage
270
Statutory conditions
271
Term of contract, renewal
IX
WEATHER INSURANCE
272
Application of Part
273
Coverage
274
Statutory conditions
275
Term of contract
X
FRATERNAL SOCIETIES
276
Definitions
APPLICATION OF PART
277
Application of part
LICENSING OF SOCIETY
278
When fraternal society shall not be licensed
279
Licensing of society
280
Head office, secretary, treasurer
281
Central governing body
CONSTITUTION AND RULES
282
Constitution and rules
283
Constitution and rules
284
Copy of rules
285
Payment of sum to member, unmatured contract
MEMBER’S RIGHTS AND LIABILITIES
286
Liabilities
287
Forfeiture or suspension
288
Conditions
289
Notice
REPORTS AND READJUSTMENTSOF CONTRACTS
290
Reports and readjustments of contracts
291
Reports and readjustments of contracts
292
Reports and readjustments of contracts
293
Reports and readjustments of contracts
294
Reports and readjustments of contracts
SPECIAL RATES AND BENEFITS
295
Separate fund
296
Limitation of payments
297
Special assessment or assessments
298
Special rates and benefits
299
Additional levies
300
New or additional benefits or new scale of rates of contribution
301
Surplus of assets more than five per cent over and above net liabilities
XI
MUTUAL BENEFIT SOCIETIES
302
Mutual benefit societies
303
Application of sections 281, 282 and 283
XII
PROVINCIAL MUTUAL INSURANCECOMPANIES
304
Application and interpretation
CONTRACTS
305
Term of contract
306
Contracts
307
Application for fire insurance
308
Form, terms and conditions
RATES OF INSURANCE
309
Tariff of rates for premium notes
310
Reinsurance of a risk or a portion of a risk
311
General reinsurance agreement
CANCELLATION AND TRANSFER OFCONTRACTS
312
Policy cancelled or avoided
313
Insured property or interest in property alienated or partly alienated
PREMIUM NOTESAND ASSESSMENTS
314
Premium notes
315
Premium note not a lien
316
Cash payment on the premium note
317
Assessments
318
Unpaid assessment
319
Assessments in proportion to premium notes
320
Proeeding by insurer
321
Prima facie evidence
322
Premium note given up to signer
LOSSES UNDER CONTRACTS
323
Loss on property
324
Timing of executions
325
Pro rata distribution of assets
RESERVE AND GUARANTEE FUND
326
Reserve and guarantee fund
MUTUAL INSURANCEGUARANTEE FUND
326.1
Mutual insurance guarantee fund
326.2
Mutual insurance guarantee fund
326.3
Withdrawal of insurer from trust agreement or withdrawal of approval of Superintendent
326.4
Insurer who becomes party to agreement under subsection 326.1(1)
326.5
Persons engaged in the business of insurance
326.6
Account file with Superintendent binding and conclusive
XIII
RECIPROCAL OR INTER-INSURANCEEXCHANGES
327
Definitions
328
Reciprocal contracts of indemnity or inter-insurance
329
Not an insurer
330
Power of attorney
331
Filing of declaration
332
Reciprocal or inter-insurance exchanges
333
When licence shall not be issued
334
Office from which contracts are to be issued not in the Province
335
Statement of attorney
336
Reciprocal or inter-insurance exchanges
337
Investment
338
No liability
339
Reciprocal or inter-insurance exchanges
340
Reciprocal or inter-insurance exchanges
341
Fire insurance effected outside the Province
XIV
AMALGAMATION, TRANSFER ANDREINSURANCE
342
Definition
343
Interpretation
344
Amalgamation, transfer and reinsurance
345
Amalgamation, transfer and reinsurance
346
Life insurance, service on members and policyholders
347
Deposit with Superintendent
348
Date of hearing
349
Amalgamation, transfer and reinsurance
350
Amalgamation, transfer and reinsurance
XV
AGENTS, BROKERS, ADJUSTERSAND DAMAGE APPRAISERS
351
Agents, brokers, adjusters and damage appraisers
352
Agents, brokers, adjusters and damage appraisers
353
Agents, brokers, adjusters and damage appraisers
BROKER’S LICENCES FOR BUSINESSWITH UNLICENSED INSURERS
354
Broker’s licences for business with unlicensed insurers
355
Broker’s licences for business with unlicensed insurers
356
Broker’s licences for business with unlicensed insurers
357
Unlawful contracts of insurance
LICENCES OF INSURANCE ADJUSTERS
358
Licences of insurance adjusters
LICENCES OF DAMAGEAPPRAISERS
358.1
Licences of damage appraisers
LICENCES TO PARTNERSHIPS
359
Licences to partnerships
LICENCES TO CORPORATIONS
360
Licences to corporations
AGENTS, BROKERS, ADJUSTERSAND DAMAGE APPRAISERS GENERALLY
361
Payment to insurer
362
Person not duly licensed or carries on business in any other name
363
List of persons to whom licences have been issued
364
Agents, brokers, adjusters and damage appraisers generally
364.1
Books, records and accounts
365
Return
366
Agents, brokers, adjusters and damage appraisers generally
367
Agents, brokers, adjusters and damage appraisers generally
368
Agents, brokers, adjusters and damage appraisers generally
369
Offence re life insurance
UNFAIR AND DECEPTIVE ACTS ANDPRACTICES IN THE BUSINESSOF INSURANCE
369.1
Definitions
369.2
Unfair or deceptive act or practice
369.3
Examination and investigation
369.4
Unfair and deceptive acts and practices in the business of insurance
369.5
Unfair and deceptive acts and practices in the business of insurance
GENERAL
370
General