July 13, 2011
July 14, 2011
The Lieutenant Governor in Council makes the Enforcement and Administration Amendment Regulation set out in the attached Appendix.
1 The Enforcement and Administration Regulation (AR 129/2001) is amended by this Regulation.
2 Section 5(1) is repealed and the following is substituted:
Designation of compensation association
5(1) The Property and Casualty Insurance Compensation Corporation is designated as a compensation association for the following classes of insurance:
(a) accident and sickness insurance in respect of policies issued by a property and casualty company that is also licensed to offer other classes of insurance;
(b) automobile insurance;
(c) boiler and machinery insurance;
(d) credit protection insurance in respect of policies issued by a property and casualty company;
(e) legal expense insurance;
(f) liability insurance;
(g) other approved products insurance;
(h) product warranty insurance;
(i) property insurance,
but those classes do not include crop insurance, directors’ and officers’ insurance or errors and omissions insurance.
3 Section 6(c) is amended by striking out “loss of employment” and substituting “credit protection”.
4 This Regulation comes into force on the coming into force of section 29 of the Insurance Amendment Act, 2008.