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Statutes of Newfoundland 1992
AN ACT TO AMEND THE INSURANCE
(Assented to June 11, 1992)
1. S.45(4) R&S
Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:
RSN 1990 cI-9
1. Subsection 45(4) of the Insurance Adjusters, Agents and Brokers Act is repealed and the following substituted:
(a) a director or officer of a body corporate acting as an adjustment company, agent or broker; or
(b) a partner of a partnership acting as an adjustment company, agent or broker,
is individually licensed as an adjuster or representative, that director, officer or partner is jointly and individually liable with the partnership or body corporate for damages to 3rd parties arising from the negotiations of insurance contracts or the settlement of insurance claims for which the body corporate or partnership is liable as a result of the acts of a person through whom the body corporate or partnership acts.
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