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C-74 - Insurance Brokers Act

Section 31
Disposition versions

Full text
31. Any person acts as an insurance broker who, not dealing with only one insurer or only one group of insurers under joint management, transacts for another or others insurance business other than insurance of the person
(1)  by negotiating or placing risks,
(2)  by delivering policies,
(3)  by collecting premiums or
(4)  by receiving a commission or remuneration other than a salary.
An insurance agent who deals with only one insurer or only one group of insurers under joint management does not act as a broker by doing the things listed above with respect to a risk which he places through the Automobile Assigned Risk Plan following a refusal or cancellation by the insurer or group of insurers whom he represents.
Nothing in this section shall affect the right of an insurance company or insurer to transact business in its or his own name or to effect reinsurance.
R. S. 1964, c. 268, s. 31.
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