Insurance Business (Banks and Bank Holding Companies) Regulations — 2
2 In these Regulations, Act means the Bank Act . ( Loi ) 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 ) bank web page means a web page that a bank uses in relation to its business in Canada, including any information provided by the bank that is accessible on a telecommunications device. It does not include a web page that is only accessible by employees or agents of the bank; ( page Web de banque ) credit or charge card-related insurance , in respect of a bank, means a policy of an insurance company that provides insurance to the holder of a credit or charge card issued by the bank 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 holder when renting a vehicle, when the rental is paid for with the card; ( assurance carte de crédit ou de paiement ) creditors’ disability insurance , in respect of a bank, means a group insurance policy that will pay all or part of the amount of a debt of a debtor to the bank, or to a loan company that is an affiliate of the bank, 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, any director or 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 bank or to the loan company; ( assurance-invalidité de crédit ) creditors’ life insurance , in respect of a bank, means a group insurance policy that will pay to the bank, or to a loan company that is an affiliate of the bank, all or part of the amount of a debt of a debtor or, where a 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 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 bank or to the loan company; ( assurance-vie de crédit ) creditors’ loss of employment insurance , in respect of a bank, means a policy of an insurance company that will pay, without any individual assessment of risk, all or part of the amount of a debt of a debtor to the bank, or to a loan company that is an affiliate of the bank, in the event that (a) the debtor, if the debtor is a natural person, 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 , in respect of a bank, means a policy of an insurance company that provides insurance against direct and accidental loss or damage to vehicles that are held in stock for display and sale purposes by a debtor of the bank, some or all of which have been financed by the bank; ( assurance crédit pour stocks de véhicules ) export credit insurance means a policy of an insurance company that provides insurance to an exporter of goods or services agains