National Consumer Credit Protection Act 2009

For the purposes of this Code, a credit‑related insurance contract is a contract for insurance of any of the following kinds in connection with a credit contract:

insurance over mortgaged property;

consumer credit insurance;

insurance of a nature prescribed for the purposes of this section by the regulations.

This Code does not apply to insurance over mortgaged property that:

is insurance for an extended period of warranty for goods; or

is insurance over property that is not mortgaged to secure obligations under the credit contract.

This Code does not apply to consumer credit insurance in connection with a credit contract unless the contract for consumer credit insurance insures the obligations of the debtor under the credit contract.