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

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21. Insurance in the “credit protection insurance” class is insurance whereby the insurer undertakes to indemnify a creditor against loss resulting from failure on the part of an insured natural person owing a debt to the creditor to repay the latter by reason of insufficient income, up to the amount of the debt.
O.C. 887-2009, s. 21.