Section 1 (1) definitions of "credit insurance", and "travel insurance" BEFORE amended by BC Reg 204/2011, effective July 1, 2012.
"credit insurance" means insurance under which an insurer undertakes to pay credit balances or debts of an individual, in whole or in part, on the individual's death or in the event of an impairment or potential impairment of the individual's income or ability to earn an income, but does not include insurance that is included in or incidental to another class of insurance;
"travel insurance" means
(a) insurance in respect of a trip by a person away from the place where the person ordinarily resides, without any individual assessment of risk, against
(i) loss of, or damage to, personal property that occurs while on a trip,
(ii) loss that is caused by the delayed arrival of personal baggage while on the trip, or
(iii) loss that is incurred from the rental of a motor vehicle while on the trip, or
(b) insurance in respect of a trip by a person away from the place where the person ordinarily resides,
(i) against expenses incurred while on the trip that result from an illness or disability of the person that occurs on the trip,
(ii) against expenses incurred while on the trip that results from bodily injury to, or the death of, the person caused by an accident while on the trip,
(iii) whereby the insurer undertakes to pay one or more sums of money in the event of an illness or the disability of the person that occurs on the trip, or of bodily injury to or the death of, the person that is caused by an accident on the trip,
(iv) against expenses incurred by the person for dental care necessitated by an accident while on the trip, or
(v) in the event that the person dies while on the trip, against expenses incurred for the return of that person's remains to the place where the person was ordinarily resident before death, or travel expenses for a person to go and pick up that person's remains, or
(c) insurance against loss that results from the cancellation or interruption of the trip.
Section 1 (1) definitions of "product warranty insurance" and "vehicle warranty insurance" BEFORE repealed by BC Reg 204/2011, effective July 1, 2012.
"product warranty insurance" means insurance, not being insurance included in or incidental to any other class of insurance, against loss of or damage to personal property, other than a motor vehicle, that is contracted between the purchaser of the property and an insurer whereby the insurer undertakes for a specific period to assume the cost of repairs or replacement;
"vehicle warranty insurance" means insurance, not being insurance included in or incidental to vehicle insurance, against loss of or damage to a motor vehicle arising from mechanical failure, that is contracted between the purchaser of the motor vehicle and an insurer whereby the insurer undertakes for a specific period to assume the cost of repairs or replacement, towing fees, car rentals and accommodation as a result of a covered mechanical failure.
Section 2 (2) (a) (iii) BEFORE amended by BC Reg 204/2011, effective July 1, 2012.
(iii) whether it is a group credit insurance policy and, if so, who the policy holder is, and
Section 2 (1) (b.1) BEFORE amended by BC Reg 22/2013, effective January 30, 2013.
(b.1) to
(i) a trust company, credit union, extraprovincial trust corporation, extraprovincial credit union or a bank or the officers or employees of any of them, or
(ii) a service provider under contract to a trust company, credit union, extraprovincial trust corporation, extraprovincial credit union or bank
while acting as insurance agent in connection with credit insurance, incidental to the ordinary business of the trust company, credit union, extraprovincial trust corporation, extraprovincial credit union or bank,
Section 2 (1) (f) (iv) BEFORE amended by BC Reg 15/2017, effective January 31, 2017.
(iv) has successfully completed the Autoplan Essentials Course offered by the Insurance Corporation of British Columbia, and
Section 2 (2) (a) BEFORE amended by BC Reg 64/2021, effective March 11, 2021.
(a) a mortgage broker or submortgage broker registered under the Mortgage Brokers Act whose only activity as an insurance agent or insurance salesperson is in connection with credit insurance sold incidentally to the granting or arranging of credit by that mortgage broker or submortgage broker or the employer of the submortgage broker, on condition that the mortgage broker or submortgage broker disclose to the person to whom he or she sells credit insurance
Section 2 (2) (b) (ii) BEFORE amended by BC Reg 64/2021, effective March 11, 2021.
(ii) the funeral director or funeral provider or employee of either of them disclose to the person to whom the funeral director, funeral provider or employee sells funeral services insurance that
(A) the funeral director, funeral provider or employee is not a licensed insurance agent or salesperson and that the person may wish to seek advice from a licensed insurance agent or salesperson, and
(B) there is no obligation to buy the funeral services insurance.