104 Insurance Contracts

• Author: Ralph Hone
• Pages: #3

CHAPTER 104.

INSURANCE CONTRACTS.

AN ACT TO REGULATE THE MAKING OF CERTAIN INSURANCE CONTRACTS.

[13th June 1932.1

1. This Act may be cited as The Insurance Contracts Act.

2. In this Act, unless the context otherwise requires'insurance' shall not include fire or marine insurance, but shall include every other form of insurance;

   'insurance business' shall include entering into or inducing or attempting to induce any person or persons to enter into any insurance contract or collecting any money pursuant to or as part consideration for any insurance contract;

   'insurer' shall include any person, firm, joint stock, limited liability or other company, or corporate body doing either as principal or as agent any insurance business within the Colony.

3. -(1) The Governor may by a written notice delivered to any insurer, or to any agent within the Colony of any insurer, require such insurer to satisfy the Governor by bond, or otherwise that reasonable security exists, or will exist, for the due fulfilment of all contracts into which such insurer may then have entered or may thereafter enter as an insurer.

   (2) Delivery of any notice issued under this section may be effected by leaving the same with or sending it through the post in a registered letter addressed to the insurer at his or their office.

4. -(1) Every insurer to whom or to whose agent within the Colony the written notice aforesaid shall have been given, who shall, after such notice shall have 6 of 1932.

   Short title.

   Interpretation.

   Governor may require to be satisfied that security exists for fulfilment of contracts.

   Service.

   Penalty.

   been delivered as aforesaid, do any insurance business...