This is an official version.

Copyright 2016: Queens Printer,

St. John's, Newfoundland and Labrador, Canada

Important Information

(Includes details about the availability of printed and electronic versions of the Statutes.)

Table of Regulations

Main Site

How current is this regulation?

NEWFOUNDLAND

AND LABRADOR

REGULATION 46/11

Insurance Prohibited Underwriting Regulations

under the

Insurance Companies Act

(O.C. 2011-126)

(Filed May 10, 2011)

Under the authority of

section 107 of

the Insurance Companies Act

the Lieutenant-Governor in Council makes the following regulations.

Dated at St. Johns

, May 2, 2011.

Robert Thompson

Clerk of the Executive Council

REGULATIONS

Analysis

Short title

Definitions

Prohibited use of credit information

Prohibited use of credit information, risk classification system

Minister's determination

Short title

These regulations may be cited as the

Insurance Prohibited Underwriting Regulations.

Back to Top

Definitions

In these regulations

(a)

"Act" means the Insurance Companies Act;

(b)

"credit information" means information about a person's creditworthiness, and includes

(

i) a persons credit score,

(ii)

a persons credit based insurance score,

(iii)

a persons credit rating, and

(iv)

information about or derived in whole or in part from a persons

(

A) occupation,

(

B) previous places of residence,

(

C) number of dependents,

(

D) educational or professional qualifications,

(

E) current or previous places of employment,

(

F) estimated income,

(

G) outstanding debt obligations,

(

H) past debt payment history,

(

I) cost of living obligations, or

(

J) assets; and

(c)

"personal insurance" means a contract of

(

i) fire insurance,

(ii)

property insurance, or

(iii)

both fire insurance and property insurance,

the premiums for which would be reported as "Property-Personal" in the Provincial and Territorial Exhibit of Premiums Written in the Annual Return P&C-1 or P&C-2 or that would be reported as "Property-Personal" in those exhibits where the insurance company is not required to use the Annual Return P&C-1 or P&C-2, but which is not considered to be a class of insurance for the purpose of the Act.

Back to Top

Prohibited use of credit information

For the purpose of

section 95.2 of the Act, an insurer shall not use credit information to decline to issue, terminate or refuse to renew a contract of personal insurance or refuse to provide or continue coverage or an endorsement with respect to that contract.

Back to Top

Prohibited use of credit information, risk classification system

For the purpose of

section 95.3 of the Act, an insurer shall not use credit information in its personal insurance risk classification system.

Back to Top

Minister's determination

Where a question arises as to whether a contract of fire insurance or a contract of property insurance is personal insurance, the minister may determine the question and that determination is final and effective for the purpose of this regulation.

Queen's Printer

(Includes May 27, 2011 Correction)