Application of future amendments.

3. The Lieutenant-Governor may by Proclamation apply the provisions of any amendment to the said Act which may hereafter be enacted by the Parliament of the Dominion to every industrial dispute of the nature in said Act defined which is within or subject to the exclusive legislative jurisdiction of the Province, whereupon those provisions shall apply accordingly.

VICTORIA, B.C. :
Printed by CHARLES F. BANFIELD, Printer to the King's Most Excellent Majesty.

1925.

An Act to amend and consolidate the Law relating to

Insurance.

[Assented to 19th December, 1925.]

IS MAJESTY, by and with the advice and consent of the

Legislative Assembly of the Province of British Columbia, enacts as follows:

Short Title.

1. This Act may be cited as the “ Insurance Act."

Short title.

Interpretation.

2. In this Act, unless the context otherwise requires :

Expressions “ Accident insurance” means insurance against loss arising

interpreted. from accident to the person of the insured : “ Automobile” includes locomobiles, motor-cycles, and other

vehicles propelled otherwise than by muscular power, and
their trailers, accessories, and equipment, but shall not
include the cars of electric and steam railways and other

motor-vehicles running only upon rails or tracks:
“ Automobile insurance” means insurance against liability for

loss or damage to persons or property caused by an auto-
mobile or the operation thereof and against loss of or

damage to an automobile:
“ Aviation insurance” means insurance against liability for loss

or damage to persons or property caused by an aircraft or
the operation thereof and against loss of or damage to an

aircraft:
“Beneficiary" means a person designated or appointed as one

to whom or for whose benefit insurance-money is to be

payable:
“ Boiler and machinery insurance” means insurance against loss

or damage to person or property through the explosion,
rupture, or collapse of or accident to boilers, engines,

machinery, or other vessels or apparatus connected with or

operated thereby : “Bond insurance” means insurance guaranteeing the validity

and legality of bonds, debentures, or debenture stock issued by any Province of the Dominion or any municipality thereof or by any public body incorporated by a Province

or the Dominion, or by any corporation: “Burglary insurance” means insurance against loss or damage

through burglary, housebreaking, robbery, or theft: “ Charter" includes any Act, Statute, Ordinance, or other pro

vision of law by or under which a corporation has been incorporated, and any memorandum of association, agreement or deed of settlement of the corporation, and any letters patent or other instrument incorporating the corporation, and any licence or certificate of registration of

the corporation, and any amendments thereto: Charter and regulations" includes the charter and all articles

of association, by-laws, regulations, and rules of a cor

poration: “Contract” means a contract of insurance and includes a policy,

certificate, interim receipt, renewal receipt, or writing evidencing the contract, whether sealed or not, and a binding

oral agreement: “ Corporation” includes any incorporated company, association,

or society, wheresoever incorporated : Court” means the Supreme Court or Judge thereof: Credit insurance means insurance against insolvency of

debtors or against loss or damage from giving credit: Dominion Act” means the “ Insurance Act, 1917," of the

Dominion, or any Act substituted therefor: “ Dominion licence” means a licence held by an insurer under

the Dominion Act: “ Dominion licensee"

an insurer licensed under the Dominion Act: “Explosion insurance” means insurance against loss of or

damage to property caused by explosion, or caused by bombardment, invasion, insurrection, riot, civil war or

commotion, or military or usurped power: "Fire insurance” means insurance against loss of or damage

to property in the Province, or in transit therefrom or thereto, caused by fire, lightning, or explosion, and includes sprinkler-leakage insurance; and for the purposes of this definition the expression “ property” includes use and occupancy, rents, profits, and charges where these are the

subject-matter of the contract: “ Guarantee insurance” means the undertaking of suretyship,

or the undertaking to perform any agreement, contract, or

66

means

obligation, or the duties of any office or position of trust or employment, upon the default of the person liable for

the performance thereof: “ Head office” means the principal office or place of business

and includes the registered office (if any) of a corporation: “ Inland transportation insurance” means insurance against

loss of or damage to property of any kind while in transit to, from, or within the Province, and includes, by usage of trade, or where the contract expressly so provides, insurance against marine losses which may be incidental to such

transit: “ Insurance” means the undertaking by one person to indemnify

another person against loss or liability for loss in respect of a certain risk or peril to which the object of the insurance may be exposed, or to pay a sum of money or other

thing of value upon the happening of a certain event: “ Insurance-money means the amount payable by an insurer

under a contract, and includes all benefits, surplus, profits, dividends, bonuses, and annuities payable under the

contract: “ Insurer” means the person who undertakes, or agrees or offers

to undertake, a contract: “Licence," "licensed," and "unlicensed ” refer to the licence

of an insurer under this Act: “ Life insurance means the undertaking to pay insurance

money contingently on the death or on the duration of the

life of a designated human being: “ Live-stock insurance” means insurance against loss or damage

through the death or sickness of or accident to animals

and their offspring: Lloyd's association” means an association of individuals

formed upon the plan known as Lloyds, whereby each associate underwriter becomes liable for a stated, limited, or proportionate part of the whole amount insured by a

contract: “ Marine insurance" means insurance against marine losses,

that is to say, the losses incidental to a marine adventure, and includes, by usage of trade or where the contract expressly so provides, insurance against losses on inland waters or any land risk which may be incidental to any

sea voyage : “ Minister" means the Attorney-General: “ Mutual company

means a corporation formed under the Mutual Fire Insurance Companies Act”; “ Officer" includes any director, manager, treasurer, or secre

tary of an insurer, and any other member of the managing body of an insurer by whatever name called :

“ Person ” includes corporation, unincorporated society or asso

ciation, partnership, any group of underwriters, and a

Lloyd's association: “Plate-glass insurance" means insurance against loss or damage

through breakage of plate, sheet, or window glass, whether

in place or in transit: “Policy” means the instrument evidencing a contract: “Premium” means the single or periodical payment under a

contract for the insurance, and includes dues, assessments,

and other consideration : “ Prescribed ” means prescribed by this Act or the regulations: “ Provincial company

means an insurer incorporated by or under an Act of the Legislature, whether before or after

the commencement of this Act: Reciprocal exchange” means a group of persons, each of whom

agrees to insure each of the others to the extent and in the manner agreed upon, in consideration of agreements

on their part to insure him: “Reciprocal insurance” means insurance undertaken by,

through, or in the name of a reciprocal exchange: "Regulations” means general rules and regulations made under

this Act: “Sickness insurance means insurance, other than life insur

ance, against loss through sickness or disability of the

insured not arising from accident or old age: “ Sprinkler-leakage insurance” means insurance against loss of

or damage to goods or premises caused by water from broken or leaking sprinklers and other fire-extinguishing appliances, or from pumps, water-pipes, and other plumb

ing fixtures : “Superintendent” means the Superintendent of Insurance: “ Tornado insurance” means insurance against loss of or damage

to property through wind-storm, cyclone, or tornado: “ Weather insurance means insurance, other than tornado

insurance, against loss or damage through rain, tempest, flood, or other climatic conditions, except hail. R.S. 1924, c. 116, s. 2; c. 117, s. 2; c. 119, s. 2; c. 120, s. 2; c. 121, s. 2; c. 142, s. 2 (part new).

Division of Act.

Division into parts.

3. For convenience of reference only, this Act is divided into parts as follows:PART.

SECTION. 1.-Application of Act

4,5 II.—General Provisions respecting Insurance

6-25 III.--Licensing and Regulation of Insurers

26–74 IV.-Special Provisions as to Life Insurance