Bill 30 (Legislature 7, Session 4)

L7 S4 8618

Alberta — Bills

Bill No. 30 of 1934. A BILL TO AMEND THE INSURANCE ACT, 1926. NOTE. The amendment made by

section 2 of the Bill is for the purpose of making it clear that the provisions of the

section apply both where there is only one contract and where there are more contracts than one.

Section 3 of the Bill adds two new sections to the Act, the first providing a special means for obtaining a discharge by an insurer in cases where a dis-charge cannot otherwise be obtained, and the second new

section conferring on the Superintendent the power to require the filing of forms of policies and applications for policies, and upon the Minister the power to prohibit the use of any form which he deems to be unfair, fraudulent or not in the public interest.

Section 4 of the Bill restates in a clearer and more com prehensive manner the provisions as to limitation of liability clauses.

Section 5 of the Bill has the effect of extending the appli cation of certain of the provisions of the Act relating to Provincial mutual companies to all mutual companies oper ating in the Province. The repeal of

section 263, effected by

chapter 57 of 1933, should have thereby been made retroactive in the manner set out in

section 6 of the Bill. R. ANDREW SMITH, Legislative Counsel. (This note does not form any part of the Bill and is offered merely as a partial explanation of some of its provisions.)

BILL No. 30 of 1934.

An Act to amend The Alberta Insurance Act, 1926. (Assented to 1934.) HIS MAJESTY, by and with the advice and consent of . the Legislative Assembly of the Province of Alberta, enacts as follows: 1.. This Act may be cited as "The Alberta Insurance Act, 1926, Amendment Act, 1934." 2. The Alberta Insurance Act, 1926, being

chapter 31 of the Statutes of Alberta, 1926, is hereby amended as to sub section (1) of

section 173 thereof by inserting immediately after the words "payable under a contract" the words "or contracts." 3. The said Act is further amended by inserting therein, immediately after

section 183 thereof, the following sec tions: "1.83a.-

(1) Where an insurer cannot obtain sufficient discharge for insurance money for which it admits liability, the insurer may apply to the court ex parte for an order for the payment thereof into court, and the court may order the payment into court to be made upon such terms as to' costs and otherwise as the court directs, and may provide to what fund or name the amount shall be credited. "

(2) The receipt of the registrar or other proper officer of the court shall be sufficient discharge to the insurer for the insurance money so paid into court, and the insurance money shall be dealt with according to the orders of the court. "1.83b.-

(1) The superintendent may require an insurer to file with him a copy of any form of policy or of the form of application for any policy issued or used by the insurer. "

(2) The superintendent shall report to the Minister any case where an insurer issues any policy or uses an applica tion which, in the opinion of the superintendent, is unfair, fraudulent or not in the public interest, and after hearing the insurer the Minister may, if he concurs in the report, order the superintendent to prohibit the insurer from issuing or using such form of policy or application. "

(3) Any insurer which, after being so prohibited, issues any such policy or uses any such application, shall be guilty of an offence."

2 4. The said Act is further amended as to

section 191 thereof by striking out the same and by substituting there for the following: "191.-

(1) A policy may contain a limitation of liability clause or clauses- " (

a) to the effect that the insurer shall only be liable for a specified proportion of any loss which may be sus tained to any of the property covered by the policy; or "(

b) to the effect that the insurer shall not be liable for more than a specified percentage of the value of any of the said property at the time of the loss; or " (

c) in the event of there being any other insurance cov ering any of the property, to the effect- "(

i) that the insurer shall only be liable for a rate able proportion of a specified percentage or proportion of any loss to any of the property; or "(ii) that the insurer shall not be liable for more than a rateable proportion of a specified per centage of the value of any of the property at the time of the loss; or " (

d) to the effect that the insurer shall only be liable for a specified percentage of any loss or in the event of there being other insurance covering any of the property, for a specified percentage of its rateable proportion of any loss, but upon the fulfilment by the assured of certain specified stipulations or agree ments, shall be liable for a further specified per centage of the loss, or in the event of there being other insurance covering any of the property, for a further specified percentage of its rateable percent age of the loss- and every policy which contains any clause to the above effect shall have printed or stamped on the face of it, in conspicuous type and in red ink, the following words: 'This policy contains a limitation of liability clause (or clauses).' "

(2) No such clause shall be deemed to be a variation of any statutory condition." 5. The said Act is further amended as to

section 351 thereof by inserting at the end thereof the following new subsection: "

(2) Notwithstanding anything contained in this Act sections 359 to 369, both inclusive, shall apply to all mutual and cash-mutual corporations operating in the Province whether incorporated under the laws of the Province or the laws of any other province of Canada, or of the Dominion of Canada." 6. The said Act is further amended by inserting therein, immediately after

section 497 thereof, the following: "498.

Section 263 of this Act, which was repealed by

section 5 of The Alberta Insurance Act, 1926, Amendment Act, 1933, shall be deemed to have been so repealed at all times from and after the fifteenth day of May, 1929." 7.-

(1) This Act shall come into force on the day upon which it is assented to.

No. 30. FOURTH SESSION SEVENTH LEGISLATURE 24 GEORGE V 1934 BILL

An Act to amend The Alberta Insurance Act, 1926. Received and read the First time ................ . ................................... . Second UlUt!..... . .................... . Third Lunt! ....................... . HON. MR. REID EDMONTON: W. D. McLEAN, KING'S PRINTER 1934 Title: 1934 (7th, 4th) Bill 30,

An Act to amend The Alberta Insurance Act, 1926

Document details

Collection	Alberta — Bills
Citation	L7 S4 8618
Type	bill
Volume / chapter	L7 S4 8618
Language	en
Format	json
Source	PROVINCIAL
Identifier	8c486f67c2794086a2f73ca15fc493a08a60ca27

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