D-9.2, r. 18 - Regulation respecting information to be provided to consumers

Section 4.10 Disposition versions

2012-09-01

4.10. For the purposes of the second paragraph of section 26 of the Act, a business relationship is entered into where an insurer that is a financial institution, other than an insurer engaging exclusively in the business of reinsurance, a financial group or a legal person related to the financial institution of financial group, within the meaning of section 147 of the Act, grants a benefit by lending a sum of money or granting any other form of financing to a firm, an independent partnership of an independent representative or, as the case may be, the executive officers, directors, shareholders or partners thereof, or other legal persons or partnerships for which these executive officers, directors, shareholders or partners are also executive officers, directors, shareholders of partners.

Moreover, such a business relationship is entered into and an interest is granted by an insurer to a firm, an independent partnership or an independent representative where the aggregate of risks placed with the insurer or other insurers that are members of the same financial group represented 60% or more of the total volume of risks placed in personal-lines damage insurance by the firm, the independent partnership or the independent representative, calculated on the value basis of written premiums annualized as at 31 December of each year.

O.C. 587-2007, s. 4.