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SHORT TERM INSURANCE

Short-term insurance business refers to the business of providing policy benefits under defined short-term policies. Under the terms of section 1 of the Short-term Insurance Act,[8] “short-term policy” means:

 "An engineering policy, a guarantee policy, a liability policy, a miscellaneous policy, a motor policy, an accident and health policy, a property policy or a transportation policy, or a contract comprising a combination of any of those policies. The definition also includes a contract whereby any such contract is renewed or varied."

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