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

Section 18 Disposition versions

2012-09-01

18. Insurance in the “boiler and machinery insurance” class is insurance providing one or more of the following protections:

(1)  insurance whereby the insurer undertakes to indemnify the insured against material loss or damage sustained by the insured by reason of the explosion or rupture of a boiler or any other pressure vessel, including any mechanism, component or accessory incidental to its operation, or material loss or damage resulting from an accident in the course of its operation;

(2)  insurance against the financial consequences of liability arising out of bodily injury or damage to property caused by the explosion or rupture of a boiler or any other pressure vessel, including any mechanism, component or accessory incidental to its operation, or by an accident in the course of its operation;

(3)  insurance whereby the insurer undertakes to indemnify the insured against material loss or damage sustained by the insured by reason of the use, breakage or breakdown of machinery;

(4)  insurance against the financial consequences of liability arising out of bodily injury or damage to property caused by the use or operation of machinery.

O.C. 887-2009, s. 18.