General Principles (Insurance Law)
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Insurance Act, R.S.O. 1990, c. I.8
Authorization to Issue Insurance
42 (1) Upon due application and upon proof of compliance with this Act, the Chief Executive Officer may issue a licence to undertake contracts of insurance and carry on business in Ontario to any insurer coming within one of the following classes:
- 1. Joint stock insurance companies.
- 2. Mutual insurance corporations.
- 3. Cash-mutual insurance corporations.
- 4. Fraternal societies.
- 5. Repealed: 1997, c. 19, s. 10 (6).
- 6. Companies duly incorporated to undertake insurance contracts and not within classes 1 to 5.
- 7. Reciprocal insurance exchanges.
- 8. Underwriters or syndicates of underwriters operating on the plan known as Lloyds.
