Insurance Business (Cooperative Credit Associations) Regulations — 1
1 (1) The following definitions apply in these Regulations. Act means the Cooperative Credit Associations Act . ( Loi ) association web page means a web page that an association uses in relation to its business in Canada, including any information provided by the association that is accessible on a telecommunications device. It does not include a web page that is only accessible by employees or agents of the association. ( page Web d’association ) authorized type of insurance means (a) credit or charge card-related insurance, (b) creditors’ disability insurance, (c) creditors’ life insurance, (d) creditors’ loss of employment insurance, (e) creditors’ vehicle inventory insurance, (f) export credit insurance, (g) mortgage insurance, or (h) travel insurance. ( assurance autorisée ) credit or charge card-related insurance means a policy of an insurance company that provides insurance to a holder of a credit or charge card issued by a body corporate that is part of the cooperative credit system as a feature of the card, without request and without an individual assessment of risk, (a) against loss of, or damage to, goods purchased with the card, (b) under which the insurance company undertakes to extend a warranty provided by the manufacturer of goods purchased with the card, or (c) against any loss arising from a contractual liability assumed by the card holder when renting a vehicle, where the rental is paid for with the card. ( assurance carte de crédit ou de paiement ) creditors’ disability insurance means a group insurance policy that will pay to a body corporate that is part of the cooperative credit system, all or part of the amount of a debt of a debtor to the body corporate in the event of bodily injury to, or an illness or disability of, (a) where the debtor is a natural person, the debtor or the spouse or common law partner of the debtor; (b) a natural person who is a guarantor of all or part of the debt; (c) where the debtor is a body corporate, a director or an officer of the body corporate; or (d) where the debtor is an entity, any natural person who is essential to the ability of the debtor to meet the debtor’s financial obligations to the body corporate that is part of the cooperative credit system. ( assurance-invalidité de crédit ) creditors’ life insurance means a group insurance policy that will pay to a body corporate that is part of the cooperative credit system, all or part of the amount of a debt of a debtor to the body corporate, or where the debt is in respect of a small business or a farm, fishery or ranch, all or part of the amount of the credit limit of a line of credit, in the event of the death of (a) where the debtor is a natural person, the debtor or the spouse or common-law partner of the debtor; (b) a natural person who is a guarantor of all or part of the debt; (c) where the debtor is a body corporate, a director or an officer of the body corporate; or (d) where the debtor is an entity, any natural person who is essential to the ability of the debtor to meet the debtor’s financial obligations to the body corporate that is part of the cooperative credit system. ( assurance-vie de crédit ) creditors’ loss of employment insurance means a policy of an insurance company that will pay to a body corporate that is part of the cooperative credit system, without any individual assessment of risk, all or part of the amount of a debt of a debtor to the body corporate in the event that (a) where the debtor is a natural person, the debtor becomes involuntarily unemployed, or (b) a natural person who is a guarantor of all or part of the debt becomes involuntarily unemployed. ( assurance crédit en cas de perte d’emploi ) creditors’ vehicle inventory insurance means a policy of an insurance company that provides insurance against direct and accidental loss of, or damage to, vehicles that are held in stock, for display and sale, by a debtor to a body corporate that is part of the cooperative credit system, some o