BILL NO. 63

(as introduced)

2nd Session, 59th General Assembly
Nova Scotia
55 Elizabeth II, 2006

Private Member's Bill

Insurance Act
(amended)

Darrell Dexter
Cole Harbour

First Reading: May 10, 2006

(Explanatory Note)

Second Reading:

Third Reading:

This Bill requires an insurance company that provides homeowners insurance to file all rate applications with the Nova Scotia Insurance Review Board for approval.

1 Chapter 231 of the Revised Statutes, 1989, the Insurance Act, is amended by adding immediately after Section 17 the following Section:

17A (1) In this Section, "homeowners insurance" means insurance for homeowners for damage to real property, for homeowners and tenants for damage to or loss of personal property and for homeowners and tenants for liability for injuries or property damage to others, and in this subsection homeowner or tenant includes other members of the homeowner's or tenant's household.

(2) An insurer licensed to issue a contract under this Act with respect to homeowners insurance shall file all rate applications with the Board.

(3) Sections 155E to 155K apply mutatis mutandis to a rate application filed with the Board pursuant to subsection (2).