(Consolidated up to 92/2006)

ALBERTA REGULATION 123/2001

Insurance Act

RECIPROCAL INSURANCE
EXCHANGE REGULATION

Table of Contents

                1       Definition

                2       Automobile insurance

                3       Fire insurance

                4       Guarantee fund

                5       Expiry

Definition

1   In this Regulation, “Act” means the Insurance Act.

AR 123/2001 s1;92/2006

Automobile insurance

2(1)  For the purpose of section 82(2)(a) of the Act, the prescribed number of automobiles is 50.

(2)  For the purpose of section 82(2)(b) of the Act, the prescribed limit is $1 000 000.

AR 123/2001 s2;92/2006

Fire insurance

3   For the purpose of section 83 of the Act,

                                 (a)    the prescribed number of separate fire insurance risks in Alberta or elsewhere is 50, and

                                 (b)    the prescribed aggregate amount is $1 000 000.

AR 123/2001 s3;92/2006

Guarantee fund

4   For the purpose of the formula set out in section 100(1) of the Act, C is $50 000.

Expiry

5   For the purpose of ensuring that this Regulation is reviewed for ongoing relevancy and necessity, with the option that it may be repassed in its present or an amended form following a review, this Regulation expires on April 30, 2016.

AR 123/2001 s5;92/2006

Coming into force

6   This Regulation comes into force on the coming into force of any section of the Act.