43Arbitration provisions

43 Arbitration provisions

(1) Where a provision included in a contract of insurance has the effect of: (a) requiring, authorizing or otherwise providing for differences or disputes in connection with the contract to be referred to arbitration; or (b) limiting the rights otherwise conferred by the contract on the insured by reference to an agreement to submit a difference or dispute to arbitration; the provision is void. (2) Subsection (1) does not affect an agreement to submit a dispute or difference to arbitration if the agreement was made after the dispute or difference arose.