4.—(1) For the purposes of section 5(3)(a) of the Act, a court may, in considering the reasonableness of the actions of a supplier of regulated financial products or services, take into account the inherent risks of the financial products or services supplied, if all relevant information concerning such risks has been provided to the consumer in good faith.
(2) A supplier of regulated financial products or services shall not be taken to have engaged in an unfair practice by reason only that the following terms are included in an insurance contract supplied by the supplier:
(a)
terms that clearly define or circumscribe the insured risk;
(b)
terms that clearly define or circumscribe the insurer’s liability.