The Insurance Corporations Act, 1892

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Excerpt from The Insurance Corporations Act, 1892: With Practical Notes and Appendices By the skilful piloting of the Honourable J. M. Gibson, Q.C., Provincial Secretary, the Insurance Corporations Bill was last session carried through the Legislature of Ontario, and is now law. This enactment, which is one of the most important and comprehensive measures ever passed by the Provincial Legislature, removes many longstanding anomalies in our Insurance Law, and establishes general equitable principles by which all contracts of insurance, - whether made by Friendly Societies, or by Insurance Companies - are hereafter to be interpreted and governed. In Life and Accident Insurance, the doctrine of insurable interest is now revised in accordance with the exigencies of modern life. The contracts of minors who insure their lives for their own benefit or for the benefit of dependent members of their family, are recognized and protected. Parents are now given an insurable interest in the lives of their children, by virtue of the mere parental relation, and do not require to show a pecuniary interest, but, in the case of very young children, such contracts are for limited amounts, and are otherwise safeguarded. "Rebating" and discrimination in contracts are forbidden under penalties, and on the Insurance Agents' Register all life and accident insurance agents must obtain registration. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.