CIP C12 Property - Chapter 1 Questions And Answers Already Graded A+

Contracts made in province - Signed, countersigned, issued or delivered in the province / committed to the post office / to any carrier, messenger or agent / to be delivered or handed over to the insured or insured's assign or agent in the province. Fire Insurance - Insurance against loss of or damage to property through fire, lightening or explosion of coal or gas. Terms of insurance contracts are governed by the Civil Code of Quebec - Rights & obligations of parties to a contract / Provisions for insurance to persons (life, accident & sickness) / Provisions for property insurance. Provisions governing all insurance contracts - Contracts made in province / insurer must provide insured with a copy of the application on request / Insurer must be consistent with the insurance act (contravention with acts will not render the contract invalid against insurer. Every policy must contain - Name of insurer / Name of insured / all persons with an insurable interest / premium / subject of insurance / basis of indemnity / perils insured / effective & expiry of insurance Provisions for Appraisal - Each party appoints an appraiser, both will appoint an umpire / appraisers determine the matters in disagreement / if they disagree, will submit to the umpire Relief from Forfeiture - Courts may rule a policy enforceable under certain circumstances, even if the insured has breached a policy condition Waivers on contract terms - Must be written and signed to be in effect (Cannot waive terms regarding appraisal,completion of proofs or the investigation and adjustment of claims Non-payment of premiums - Insurer may cancel giving notice - either 5 days notice by personal delivery or 15 days notice registered mail. Until notice period has passed, the insurer is bound by thecontract. Insurer may sue for outstanding premium or deduct outstanding premiums from any claim liable under the contract. Proof of Loss forms - Must be delivered immediately upon request or within 6o days of notice of loss. When actions may be brought - No action for monies payable under the contract may be brought within 60 days after delivery of the Proof of Loss or the happening of the event. The Fire peril includes - Fire, Lightning, Explosion of Natural / Coal / Manufactured Gas