"credit insurance"
means an agreement between an insurer, on one hand, and a credit provider or a consumer or both, on the other hand, in terms of which the insurer agrees to pay a benefit upon the occurrence of a specified contingency, primarily for the purpose of satisfying all or part of the consumer’s liability to the credit provider under a credit agreement as at the time that the specified contingency occurs, and includes—
| (a) |
a credit life insurance agreement; |
| (b) |
an agreement covering loss of or damage to property; or |
| (c) |
an agreement covering— |
| (i) |
loss or theft of an access card, personal information number or similar device; or |
| (ii) |
any loss or theft of credit consequential to a loss or theft contemplated in sub-paragraph (i); |
Maintenance Act, 1998
