A-32 - Act respecting insurance

Section 406.2 Disposition versions

2016-01-01

406.2. Any insurer who, directly or indirectly, grants a rebate on the premium stipulated in an insurance policy to any person insured or applying for insurance, or agrees with that person on a method of payment of the premium other than the method set forth in the policy or who renders the making of a contract conditional upon the making of another contract is guilty of an offence.

Moreover, a contract whereby a product is acquired conditionally upon the making of a contract may be cancelled within 10 days after the day it is made by notice sent by registered mail.

The payment of benefits stipulated in a policy, the reduction granted to an insured for the acquisition of two or more financial products from that insurer or from the financial group of which he is a member, or the compensation paid to an employee by an insurer for services rendered as such, even if the employee is insured by his employer, does not constitute a rebate of premium to which the first paragraph applies.

1989, c. 48, s. 245; I.N. 2016-01-01 (NCCP).

1991-09-01

406.2. Any insurer who, directly or indirectly, grants a rebate on the premium stipulated in an insurance policy to any person insured or applying for insurance, or agrees with that person on a method of payment of the premium other than the method set forth in the policy or who renders the making of a contract conditional upon the making of another contract is guilty of an offence.

Moreover, a contract whereby a product is acquired conditionally upon the making of a contract may be cancelled within 10 days after the day it is made by notice sent by registered or certified mail.

The payment of benefits stipulated in a policy, the reduction granted to an insured for the acquisition of two or more financial products from that insurer or from the financial group of which he is a member, or the compensation paid to an employee by an insurer for services rendered as such, even if the employee is insured by his employer, does not constitute a rebate of premium to which the first paragraph applies.

1989, c. 48, s. 245.