A-32.1, r. 1 - Regulation under the Act respecting insurance

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20. Insurance in the “credit insurance” class is insurance whereby the insurer undertakes to indemnify an insured creditor against loss resulting from failure on the part of a debtor to repay the insured creditor. This class does not include protection for claims secured by hypothec.
O.C. 887-2009, s. 20.