"short-term policy
means —
| (a) | in respect of a registered insurer, an engineering policy, guarantee policy, liability policy, miscellaneous policy, motor policy, accident and health policy, property policy or transportation policy or a contract comprising a combination of any of those policies; and includes a contract whereby any such contract is renewed or varied; |
| (b) | in respect of a licensed insurer, a non-life insurance policy as defined in section 1 of the Insurance Act;; |