In Quebec, New Brunswick and Ontario, charts or rules are used to determine fault or responsibility for Direct Compensation – Property Damage claims, but not for injury claims in cases of car collisions. In some other jurisdictions, insurers use inter-company…
A mutual insurance company whose owning policyholders are predominately farmers. See Mutual Insurance Company.
Price at which a buyer and seller, under no compulsion to buy or sell, will trade.
Insurance companies of the mutual type (as distinct from stock companies) who specialize in industrial risks and in loss prevention.
A provision in a policy authorizing the insurance company in certain circumstances to pay certain designated persons other than the insured.
The organization that ensures that anyone who is required to have car insurance has access to it. For more information about the important role of Facility Association in the insurance market, please visit its website at www.facilityassociation.com
A pooling agreement between all automobile insurers (now replaced in most provinces by the Facility Association) in which a market is guaranteed for all licensed drivers and registered owners. The results of the total industry pool are shared by all…