S-3.1, r. 7 - Regulation respecting combat sports licensing

Section 50 Disposition versions

2012-09-01

50. The insurance contract shall contain the following terms:

(1)  every employee or agent, paid or unpaid, shall be covered by the contract;

(2)  coverage shall extend to the payment of medical and hospital expenses of contestants who are not Canadian citizens or permanent residents of Canada, excluding expenses incurred as a result of injuries occurring in the course of physical exercise or sports activities;

(3)  the amount of coverage shall be at least $1,000,000 per claim and $1,000,000 for all claims occurring during the period covered;

(4)  the insurer shall undertake to pay, in place of the insured and within the limits of coverage, any amount the insured may be legally required to pay to a third party for any claim pertaining to the period covered; and

(5)  the insurer shall undertake to notify the board of the termination, cancellation or non-renewal of the insurance contract at least 30 days before such termination, cancellation or non-renewal.

O.C. 663-95, s. 50.