Bill 84 2003

An Act to amend
the Insurance Act
to allow for the sale of
election cancellation insurance

Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

1. The Insurance Act is amended by adding the following Part:

PART VIII
ELECTION CANCELLATION INSURANCE

Election cancellation insurance

330. (1) Insurers may sell election cancellation insurance that insures against the risk of an anticipated election not being called.

Premiums

(2) The premiums for election cancellation insurance shall be based on the differences in the popularity of the various political parties as determined on the basis of public opinion polls.

Insured persons

(3) Election cancellation insurance may be purchased by,

(a) individuals who have been nominated as candidates at the time that the anticipated election is not called; and

(b) the Chief Election Officer appointed under section 4 of the Election Act.

Recovery

(4) Election cancellation insurance permits the recovery of money spent and costs incurred by the insured on offices, staff, enumeration and similar matters related to the holding of an election.

Ceases to have effect

(5) This section ceases to have effect if a system of fixed term elections is implemented.

Definition

(6) In this section,

"anticipated election" means an election that has not yet been called but is an election when a reasonable person, based on the actions or statements or lack of actions or statements of the Premier or of members of the Executive Council, could conclude that an election is about to be called.

Commencement

2. This Act comes into force on the day it receives Royal Assent.

Short title

3. The short title of this Act is the Insurance Amendment Act (Election Cancellation Insurance), 2003.

EXPLANATORY NOTE

The Bill amends the Insurance Act by authorizing the sale of election cancellation insurance. Individual candidates and the Chief Election Officer are permitted to purchase the insurance. The section that authorizes the sale of election cancellation insurance ceases to have effect if a system for fixed term elections is implemented.