You're using an outdated browser. This website will not display correctly and some features will not work.
Learn more about the browsers we support for a faster and safer online experience.

# result(s)

Insurance Act
Loi sur les assurances

R.R.O. 1990, REGULATION 666

No Amendments

CLASSES OF INSURANCE

Historical version for the period December 31, 1990 to December 15, 2004.

This Regulation is made in English only.

1. The classes of insurance set out in this Regulation are distinct classes of insurance for the purpose of licensing insurers under the Act to carry any one or more of the classes that an insurer’s licence prescribes. R.R.O. 1990, Reg. 666, s. 1.

2. For the purpose of section 43 of the Act, a licence granted to an insurer shall be for one or more of the following classes of insurance:

1. Accident and Sickness Insurance, being insurance within the meaning of accident insurance and sickness insurance.

2. Aircraft Insurance.

3. Automobile Insurance.

4. Boiler and Machinery Insurance.

5. Credit Insurance.

6. Fidelity Insurance, being,

i. insurance against loss caused by the unfaithful performance of duties by a person in a position of trust, or

ii. insurance whereby an insurer undertakes to guarantee the proper fulfilment of the duties of an office.

7. Hail Insurance.

8. Legal Expense Insurance, being insurance against the cost incurred by a person or persons for specified legal services rendered to such person or persons, including fees or other costs incurred relative to the provision of such services.

9. Liability Insurance, being insurance not incidental to some other class of insurance, against liability arising out of,

i. bodily injury to or the death of a person, including an employee, or

ii. the loss of or damage to property,

and includes insurance against expenses arising out of bodily injury to a person other than the insured or a member of the insured’s family, whether liability exists or not, if the insurance is included in a contract for the insurance described in subparagraph i, but does not include aircraft insurance or automobile insurance.

10. Life Insurance.

11. Marine Insurance.

12. Mortgage Insurance, being insurance against loss caused by default on the part of a borrower under a loan secured by a mortgage upon real property, a hypothec upon immovable property or an interest in real or immovable property.

13. Property Insurance, being insurance within the meaning of fire insurance, inland transportation insurance, livestock insurance, plate glass insurance, property damage insurance, sprinkler leakage insurance, theft insurance and weather insurance.

14. Surety Insurance, being insurance whereby an insurer undertakes to guarantee,

i. the due performance of a contract or undertaking, or

ii. the payment of a penalty or indemnity for any default,

but does not include insurance coming within the class of credit insurance or mortgage insurance.

15. Title Insurance. R.R.O. 1990, Reg. 666, s. 2.

3. (1) Except where an insurer is expressly limited by the terms of the licence issued, an insurer applying for a licence shall be licensed for one or more of the classes of insurance referred to in section 2. R.R.O. 1990, Reg. 666, s. 3 (1).

(2) Where an insurer was licensed prior to the 1st day of January, 1972 for a class of insurance that is now part of a class of insurance referred to in section 2, its rights and powers are extended to all the rights and powers within that class referred to in section 2, unless,

(a) expressly so limited by the terms of the renewal of the licence;

(b) expressly so limited by the Superintendent to take into account limitations contained in the Act or instrument of incorporation of the insurer; or

(c) expressly so limited by the Superintendent to take into account any restrictions or limitations imposed on the insurer under the provisions of the Canadian and British Insurance Companies Act (Canada) or the Foreign Insurance Companies Act (Canada). R.R.O. 1990, Reg. 666, s. 3 (2).

(3) A licence issued to an insurer to undertake title insurance in Ontario is subject to the limitations and conditions that no policy of title insurance shall be issued unless the insurer has first obtained a concurrent certificate of title to the property to be insured from a solicitor then entitled to practise in Ontario and who is not at that time in the employ of the insurer. R.R.O. 1990, Reg. 666, s. 3 (3).