A-32.1 - Insurers Act

Full text
491. A monetary administrative penalty of $250 in the case of a natural person and $1,000 in any other case may be imposed on
(1)  an authorized insurer
(a)  that, in contravention of section 58, fails to send the Authority a report on its complaint processing and dispute resolution policy,
(b)  that, in contravention of section 66, fails to notify the Authority of the fact that it has started or ceased doing business with a distributor,
(c)  that, in contravention of section 71, uses an insurance policy relating to the ownership of motor vehicles without having had its form and terms approved by the Authority,
(d)  whose ethics committee, in contravention of section 107, fails to send the Authority a report on its activities,
(e)  that, in contravention of section 119, fails to notify the Authority of the end of the actuary’s or auditor’s term,
(f)  that, in contravention of section 132, fails to send the Authority an annual statement of the position of its affairs,
(g)  that, in contravention of section 133, fails to send the Authority the financial statements, an auditor’s or actuary’s report, or the certificate referred to in that section, or
(h)  that, being Lloyd’s, fails to send the Authority the list of its underwriters in Québec or does not keep that list up to date in contravention of section 137;
(2)  an insurance company that, in contravention of section 225 of the Business Corporations Act (chapter S-31.1), fails to send its financial statements to a member who requests them;
(3)  a self-regulatory organization that, in contravention of section 370, fails to send holders of an insurance contract underwritten by the organization the annual report of its insurance fund;
(4)  a federation of mutual companies that
(a)  in contravention of section 394, fails to report to the Authority on the number of complaint records it has registered in the register of complaint records submitted for its examination and their nature,
(b)  in contravention of section 449, fails to send its annual report to its members, or
(c)  in contravention of section 451, fails to send the Authority an annual statement under section 450; or
(5)  an authorized insurer, the holder of control of the insurer, a member of its financial group, its actuary or its auditor if it or he or she refuses to communicate or provide access to a document or information required by the Authority for the purposes of this Act.
The penalties prescribed by the first paragraph also apply if the information or documents concerned are incomplete, or are not sent before the specified time limit.
2018, c. 23, s. 32018, c. 23, s. 3.
In force: 2019-06-13
491. A monetary administrative penalty of $250 in the case of a natural person and $1,000 in any other case may be imposed on
(1)  an authorized insurer
(a)  that, in contravention of section 58, fails to send the Authority a report on its complaint processing and dispute resolution policy,
(b)  that, in contravention of section 66, fails to notify the Authority of the fact that it has started or ceased doing business with a distributor,
(c)  that, in contravention of section 71, uses an insurance policy relating to the ownership of motor vehicles without having had its form and terms approved by the Authority,
(d)  whose ethics committee, in contravention of section 107, fails to send the Authority a report on its activities,
(e)  that, in contravention of section 119, fails to notify the Authority of the end of the actuary’s or auditor’s term,
(f)  that, in contravention of section 132, fails to send the Authority an annual statement of the position of its affairs,
(g)  that, in contravention of section 133, fails to send the Authority the financial statements, an auditor’s or actuary’s report, or the certificate referred to in that section, or
(h)  that, being Lloyd’s, fails to send the Authority the list of its underwriters in Québec or does not keep that list up to date in contravention of section 137;
(2)  an insurance company that, in contravention of section 225 of the Business Corporations Act (chapter S-31.1), fails to send its financial statements to a member who requests them;
(3)  a self-regulatory organization that, in contravention of section 370, fails to send holders of an insurance contract underwritten by the organization the annual report of its insurance fund;
(4)  a federation of mutual companies that
(a)  in contravention of section 394, fails to report to the Authority on the number of complaint records it has registered in the register of complaint records submitted for its examination and their nature,
(b)  in contravention of section 449, fails to send its annual report to its members, or
(c)  in contravention of section 451, fails to send the Authority an annual statement under section 450; or
(5)  an authorized insurer, the holder of control of the insurer, a member of its financial group, its actuary or its auditor if it or he or she refuses to communicate or provide access to a document or information required by the Authority for the purposes of this Act.
The penalties prescribed by the first paragraph also apply if the information or documents concerned are incomplete, or are not sent before the specified time limit.
2018, c. 23, s. 32018, c. 23, s. 3.