Renewal Certificate

It is the practice by many insurers to issue a short form certificate instead of writing a whole new policy to replace an expiring one. This form is the renewal certificate and contains references to the original policy rather than…

Removal*

The standard fire insurance clause which insures against reasonable costs incurred and damage done in removing the insured property from the path of the fire or other insured peril in order to mitigate the loss. Removal may mean taking the…

Reinsurance*

Insurance purchased by an insurance company from another insurance company (reinsurer) to provide it protection against large losses on cases it has already insured. Essentially, insurance for insurance companies.

Regulator

The federal, provincial or territorial government agency responsible for the control and regulation of the insurance industry under its jurisdiciton.

Regular Insurance Market*

When the insurance business environment is operating effectively, low-risk consumers find that auto insurance is available to them from any insurance company and at a reasonable price.