hordruma/ontario_laws_and_regs huggingface dataset:
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Suspension, cancellation of insurer’s licence for failure to pay administrative penalty
57 (1) The Chief Executive Officer may suspend or cancel an insurer’s licence if the insurer fails to pay an administrative penalty as required under this Act.  2012, c. 8, Sched. 23, s. 2; 2018, c. 8, Sched. 13, s. 22. Notice (2) The Chief Executive Officer shall give written notice to the insurer before exercising the Chief Executive Officer’s authority under subsection (1).  2012, c. 8, Sched. 23, s. 2; 2018, c. 8, Sched. 13, s. 22, 23. Procedural steps not required (3) Section 58 does not apply to the exercise of the Chief Executive Officer’s authority under subsection (1).  2012, c. 8, Sched. 23, s. 2; 2018, c. 8, Sched. 13, s. 23. Revival of licence (4) If a licence is suspended or cancelled under subsection (1), the Chief Executive Officer may revive the licence if the insurer pays the administrative penalty.  2012, c. 8, Sched. 23, s. 2; 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 1997, c. 19, s. 10 (10) - 10/10/1997 2012, c. 8, Sched. 23, s. 2 - 01/01/2013 2018, c. 8, Sched. 13, s. 22, 23 - 08/06/2019 Disciplinary action against insurers
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Appeal against Tribunal order to take control
63 (1) Despite section 62, an insurer may appeal to the Divisional Court from any order made by the Tribunal under clause 58 (8) (b) within thirty days after the delivery of a copy of the order to an officer of the insurer.  1993, c. 10, s. 10 (1); 1997, c. 28, s. 97 (1). Stay (2) An order of the Tribunal under clause 58 (8) (b) shall take effect immediately, but where there is an appeal, a judge of the Divisional Court may grant a stay until any appeal is disposed of.  R.S.O. 1990, c. I.8, s. 63 (2); 1993, c. 10, s. 10 (2); 1997, c. 28, s. 97 (2). Documents to be filed (3) The Tribunal shall file with the Divisional Court, (a)  the decision of the Tribunal; (b)  the report of the Chief Executive Officer; (c)  the record of the hearing; and (d)  all written submissions by the appellant to the Tribunal.  1997, c. 28, s. 97 (3); 2018, c. 8, Sched. 13, s. 22. (4) Repealed:  1993, c. 10, s. 10 (3). Order (5) Where an appeal is taken under this section, the court may by order direct the Chief Executive Officer to take such action as the court considers proper or refrain from taking any action specified in the order and the Chief Executive Officer shall act accordingly.  R.S.O. 1990, c. I.8, s. 63 (5); 2018, c. 8, Sched. 13, s. 22. Further decision (6) Despite the determination of the appeal under this section, the Chief Executive Officer and the Tribunal have power to make any further reports and orders on new material or where there is a material change in the circumstances, and any such further order is subject to appeal under this section.  1993, c. 10, s. 10 (4); 1997, c. 28, s. 97 (4); 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 1993, c. 10, s. 10 (1-4) - 01/01/1994; 1997, c. 28, s. 97 (1-4) - 01/07/1998 2018, c. 8, Sched. 13, s. 22 - 08/06/2019
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Revocation of licence
63.1 The Chief Executive Officer may revoke an insurer’s licence under this Act at the request of the insurer. 2018, c. 8, Sched. 13, s. 5. Section Amendments with date in force (d/m/y) 2018, c. 8, Sched. 13, s. 5 - 08/06/2019
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Revival of licence
64 Where the licence of an insurer is suspended or cancelled under this Act, it may be revived if the insurer makes good the deposit, or the deficiency, as the case may be, to the satisfaction of the Chief Executive Officer.  R.S.O. 1990, c. I.8, s. 64; 1997, c. 28, s. 98; 2018, c. 8, Sched. 13, s. 22. Note: On a day to be named by proclamation of the Lieutenant Governor, section 64 of the Act is amended by adding the following subsection: (See: 2018, c. 8, Sched. 13, s. 6) Exception (2) After the day section 3 of Schedule 13 to the Plan for Care and Opportunity Act (Budget Measures), 2018 comes into force, an insurer’s licence cannot be revived unless the insurer satisfies at least one of the criteria listed in subsection 42 (1.3) at the time of the revival. 2018, c. 8, Sched. 13, s. 6. Section Amendments with date in force (d/m/y) 1997, c. 28, s. 98 - 01/07/1998 2018, c. 8, Sched. 13, s. 6 - not in force; 2018, c. 8, Sched. 13, s. 22 - 08/06/2019
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Notice of suspension or cancellation
65 If a licence of an insurer is suspended or cancelled, notice of such suspension or cancellation shall be published on the website of the Authority and elsewhere as the Chief Executive Officer directs, and thereafter any person transacting business on behalf of the insurer except for winding-up purposes is guilty of an offence.  1997, c. 28, s. 99; 2018, c. 8, Sched. 13, s. 22; 2019, c. 14, Sched. 9, s. 7. Section Amendments with date in force (d/m/y) 1997, c. 28, s. 99 - 01/07/1998 2018, c. 8, Sched. 13, s. 22 - 08/06/2019 2019, c. 14, Sched. 9, s. 7 - 31/07/2020 Withdrawal from Automobile Insurance
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Report on share transfers
100 No transfers of shares of an insurer shall be entered in the book or books maintained for that purpose until thirty days after notice thereof has been deposited with the Chief Executive Officer if, (a)  the transfer relates to 10 per cent or more of the issued shares of the insurer for the time being enjoying voting rights; or (b)  the directors have reason to believe that the transfer would result in a majority of the issued shares of the insurer for the time being enjoying voting rights being beneficially owned by any one person.  R.S.O. 1990, c. I.8, s. 100; 1997, c. 28, s. 102; 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 1997, c. 28, s. 102 - 01/07/1998 2018, c. 8, Sched. 13, s. 22 - 08/06/2019
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Returns
101 (1) When required by the Chief Executive Officer and subject to the Authority rules, licensed insurers shall prepare and file with the Chief Executive Officer or with an agency designated by the Chief Executive Officer a return respecting the experience of the insurer’s business in a form approved by the Chief Executive Officer containing such information as the Chief Executive Officer may require.  R.S.O. 1990, c. I.8, s. 101 (1); 1997, c. 28, s. 102; 2018, c. 8, Sched. 13, s. 7, 22. Compilation of data (2) The Chief Executive Officer may require any agency so designated to compile the data so filed in such form as he or she may approve, and the expense of making the compilation shall be apportioned among the insurers whose data is compiled by such agency by the Chief Executive Officer, who shall certify in writing the amount due from each insurer, and it is payable by the insurer to such agency forthwith.  R.S.O. 1990, c. I.8, s. 101 (2); 2018, c. 8, Sched. 13, s. 22. Audit and direction (3) If it appears to the Chief Executive Officer that the insurer’s records of premium income and claims paid are not kept in such a manner as to show correctly the experience of the insurer for the purposes of the return, the Chief Executive Officer may nominate an accountant to proceed under his or her direction to audit the books and records of the insurer and to give such instructions as will enable the officers of the insurer to keep the records correctly after the audit.  R.S.O. 1990, c. I.8, s. 101 (3); 1997, c. 28, s. 102; 2018, c. 8, Sched. 13, s. 22. Expenses of audit (4) The insurer shall pay the accountant for an audit under subsection (3) forthwith upon receiving a certificate of the Chief Executive Officer stating the amount payable.  R.S.O. 1990, c. I.8, s. 101 (4); 1997, c. 28, s. 102; 2018, c. 8, Sched. 13, s. 22. Debt to the Crown (5) Any amount payable to an accountant under subsection (3) that is not paid within thirty days from the date on which the insurer receives the Chief Executive Officer’s certificate becomes a debt owing to the Crown.  R.S.O. 1990, c. I.8, s. 101 (5); 1997, c. 28, s. 102; 2018, c. 8, Sched. 13, s. 23. Section Amendments with date in force (d/m/y) 1997, c. 28, s. 102 - 01/07/1998 2017, c. 34, Sched. 21, s. 4 - no effect - see 2018, c. 8, Sched. 13, s. 26 - 08/05/2018 2018, c. 8, Sched. 13, s. 7, 22, 23 - 08/06/2019
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Notice of returns
103 Notice of the requirements for returns under section 101 or 102 is sufficient if it is sent by first class ordinary mail addressed to the insurer at the insurer’s address for service of notice or process as identified in the records of the Chief Executive Officer.  R.S.O. 1990, c. I.8, s. 103; 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 2018, c. 8, Sched. 13, s. 22 - 08/06/2019
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Preparation of financial statements
104 The financial statements required under this Act shall be prepared in accordance with this Act and the regulations.  R.S.O. 1990, c. I.8, s. 104. Note: On a day to be named by proclamation of the Lieutenant Governor, section 104 of the Act is amended by striking out “the regulations” at the end and substituting “the Authority rules”. (See: 2017, c. 34, Sched. 21, s. 7) Section Amendments with date in force (d/m/y) 2017, c. 34, Sched. 21, s. 7 - not in force CTS 04 SE 18 - 1
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Published statements
105 A statement purporting to show the financial condition of an insurer differing from the financial condition shown by the statement filed with the Chief Executive Officer, or a balance sheet or other statement in form differing from the form approved by the Chief Executive Officer, shall not be published or circulated, and every insurer publishing such a statement is guilty of an offence.  R.S.O. 1990, c. I.8, s. 105; 2004, c. 31, Sched. 20, s. 5; 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 2004, c. 31, Sched. 20, s. 5 - 16/12/2004 2018, c. 8, Sched. 13, s. 22 - 08/06/2019
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Statements that financial standing guaranteed by government prohibited
106 Every person who represents orally or in writing that the issue of a licence to an insurer or the printing or publication of an annual statement in the report of the Chief Executive Officer or in any other publication of the Chief Executive Officer or any other circumstance of the supervision or regulation of the business of the insurer by law or the Chief Executive Officer is a warranty or guarantee of the financial standing of the insurer or of its ability to provide for the payment of its contracts at maturity is guilty of an offence.  R.S.O. 1990, c. I.8, s. 106; 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 2018, c. 8, Sched. 13, s. 22 - 08/06/2019 Real Property
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Powers of insurer to hold real property
107 An insurer incorporated and licensed under the laws of Ontario may hold, manage and otherwise deal with real property, subject to any restrictions on doing so under Parts XVII and XVII.1 or the regulations.  2006, c. 33, Sched. O, s. 4. Note: On a day to be named by proclamation of the Lieutenant Governor, section 107 of the Act is amended by striking out “the regulations” at the end and substituting “the Authority rules”. (See: 2017, c. 34, Sched. 21, s. 8) Section Amendments with date in force (d/m/y) 1997, c. 19, s. 10 (18-20) - 10/10/1997; 1997, c. 28, s. 104 - 01/07/1998 2006, c. 33, Sched. O, s. 4 - 05/05/2008 2017, c. 34, Sched. 21, s. 8 - not in force CTS 04 SE 18 - 1 108 Repealed:  1997, c. 19, s. 10 (21). Section Amendments with date in force (d/m/y) 1997, c. 19, s. 10 (21) - 10/10/1997 Life Insurance
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Life insurance, distribution of parts of profits to participating policyholders
112 (1) The directors of an insurer incorporated and licensed under the laws of Ontario to transact the business of life insurance as a joint stock insurance company may from time to time set apart such portion of the net profits as they consider safe and proper for distribution as dividends or bonuses to shareholders and holders of participating policies, ascertaining the part thereof that has been derived from participating policies and distinguishing that part from the profits derived from other sources. Idem (2) Despite anything to the contrary in any letters patent of incorporation or contract, the holders of participating policies are entitled to share in that portion of the profits that has been distinguished as having been derived from participating policies (including a share of the profits arising from the sale of securities in the proportion of the mean participating fund to the mean total funds) to the extent of at least 90 per cent thereof in any year. Interest on unimpaired paid up capital stock (3) In fixing or arriving at the amount of divisible profits, there may be included interest on the amount of the unimpaired paid up capital stock and on any other sum or sums from time to time standing to the credit of the shareholders after deducting any amounts expended in the establishment, prosecution or extension of the company’s business or applied to making good any impairment of capital, and such interest may be allowed or credited to the shareholders at the average net rate of interest earned in the preceding year or other period under consideration upon the mean total funds of the company, but the shareholders are to be charged with a fair proportion of all losses incurred upon investments or other losses of a similar character in the proportion of the mean shareholders’ funds to the mean total funds. Rights of participating policyholders (4) This section does not interfere with the rights of the participating policyholders of an insurer referred to in subsection (1) to share in the profits realized from the non-participating branch of its business in any case to which the policyholders are so entitled.  R.S.O. 1990, c. I.8, s. 112. Insurance with Unlicensed Insurers
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Insurance with unlicensed insurers
113 Despite anything in this Act, any person may insure property situated in Ontario against fire with an unlicensed insurer, and any property insured or to be insured under this section may be inspected and any loss incurred in respect thereof adjusted, if such insurance is effected outside Ontario and without any solicitation whatsoever directly or indirectly on the part of the insurer.  R.S.O. 1990, c. I.8, s. 113. 114 Repealed:  1999, c. 12, Sched. I, s. 4 (13). Section Amendments with date in force (d/m/y) 1999, c. 12, Sched. I, s. 4 (13) - 22/12/1999 General
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Trafficking in life insurance policies prohibited
115 Any person, other than an insurer or its duly authorized agent, who advertises or holds himself, herself or itself out as a purchaser of life insurance policies or of benefits thereunder, or who trafficks or trades in life insurance policies for the purpose of procuring the sale, surrender, transfer, assignment, pledge or hypothecation thereof to himself, herself or itself or any other person, is guilty of an offence.  R.S.O. 1990, c. I.8, s. 115. Section Amendments with date in force (d/m/y) 2000, c. 26, Sched. G, s. 1 (1) -  See: Table of Public Statute Provisions Repealed Under Section 10.1 of the Legislation Act, 2006 - 31/12/2011 Note: On a day to be named by proclamation of the Lieutenant Governor, the Act is amended by adding the following section: (See: 2014, c. 7, Sched. 14, ss. 1, 8 (1)) Necessity for licence, long-term disability benefits 115.1 (1) Except as provided in the regulations, no person shall provide long-term disability benefits in Ontario unless the benefits are payable under a contract of insurance undertaken by a licensed insurer. 2014, c. 7, Sched. 14, s. 1. Exception (2) Subsection (1) does not apply in respect of any benefit provided under a registered pension plan within the meaning of subsection 248 (1) of the Income Tax Act (Canada). 2014, c. 7, Sched. 14, s. 1. Definition (3) In this section, “long-term disability benefits” means benefits under a benefit plan under which payments or benefits are payable to an individual for a period of not less than 52 weeks or until recovery, retirement or death, whichever period is shorter. 2014, c. 7, Sched. 14, s. 1. Section Amendments with date in force (d/m/y) 2014, c. 7, Sched. 14, s. 1 - not in force
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Privileged information
116 Any information, document, record, statement or thing made or disclosed to the Authority concerning a person licensed or applying for licence under this Act is absolutely privileged and shall not be used as evidence in any action or proceeding in any court brought by or on behalf of such person.  R.S.O. 1990, c. I.8, s. 116; 2018, c. 8, Sched. 13, s. 24. Section Amendments with date in force (d/m/y) 2018, c. 8, Sched. 13, s. 24 - 08/06/2019
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Form of insurance policy
117 (1) The Chief Executive Officer may require an insurer to file with him or her a copy of any form of policy or of the form of application for any policy issued or used by the insurer.  R.S.O. 1990, c. I.8, s. 117 (1); 2018, c. 8, Sched. 13, s. 22. Prohibition of certain policies (2) If an insurer issues a policy or uses an application that, in the opinion of the Chief Executive Officer, is unfair, fraudulent, or not in the public interest, the Chief Executive Officer may prohibit the insurer from issuing or using the form of policy or application. R.S.O. 1990, c. I.8, s. 117 (2); 2018, c. 8, Sched. 13, s. 22. Appeal (2.1) The insurer may appeal the decision of the Chief Executive Officer under subsection (2) to the Tribunal.  1997, c. 28, s. 106; 2018, c. 8, Sched. 13, s. 22. Offence (3) An insurer that, after being so prohibited, issues any such policy or uses any such application is guilty of an offence.  R.S.O. 1990, c. I.8, s. 117 (3). Section Amendments with date in force (d/m/y) 1997, c. 28, s. 106 - 01/07/1998 2018, c. 8, Sched. 13, s. 22 - 08/06/2019
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Violation of law, effect of, on claim for indemnity
118 Unless the contract otherwise provides, a contravention of any criminal or other law in force in Ontario or elsewhere does not, by that fact alone, render unenforceable a claim for indemnity under a contract of insurance except where the contravention is committed by the insured, or by another person with the consent of the insured, with intent to bring about loss or damage, but in the case of a contract of life insurance this section applies only to insurance undertaken as part of the contract whereby the insurer undertakes to pay insurance money or to provide other benefits in the event that the person whose life is insured becomes disabled as a result of bodily injury or disease.  R.S.O. 1990, c. I.8, s. 118; 2002, c. 18, Sched. H, s. 4 (13). Section Amendments with date in force (d/m/y) 2002, c. 18, Sched. H, s. 4 (13) - 30/04/2007
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Reporting on applications to register
119 An insurer incorporated under the laws of Ontario shall notify the Chief Executive Officer fourteen days in advance of making application for registration under Part IX of the Canadian and British Insurance Companies Act (Canada) or any similar enactment or regulation of the Government of Canada.  R.S.O. 1990, c. I.8, s. 119; 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 2018, c. 8, Sched. 13, s. 22 - 08/06/2019 Agreements with Compensation Association
PART II GENERAL PROVISIONS APPLICABLE TO INSURERS
Forms
121.2 (1) The Chief Executive Officer may approve forms for any purpose of this Act and the forms may provide for such information to be furnished as the Chief Executive Officer may require.  1997, c. 19, s. 10 (25); 1997, c. 28, c. 108 (2); 2018, c. 8, Sched. 13, s. 22. Electronic forms (2) The Chief Executive Officer may approve electronic forms for any purposes under this Act.  1997, c. 19, s. 10 (25); 1997, c. 28, s. 108 (2); 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 1997, c. 19, s. 10 (25) - 10/10/1997; 1997, c. 28, c. 108 (2) - 01/07/1998 2018, c. 8, Sched. 13, s. 22 - 08/06/2019 PART II.1   ACTUARY OF THE INSURER
PART II.1 ACTUARY OF THE INSURER
Definition
121.3 In this Part,  “insurer” means an insurer incorporated and licensed under the laws of Ontario.  2002, c. 18, Sched. H, s. 4 (15). Section Amendments with date in force (d/m/y) 2002, c. 18, Sched. H, s. 4 (15) - 26/11/2002
PART II.1 ACTUARY OF THE INSURER
Appointment of actuary
121.4 (1) The directors of an insurer shall appoint an actuary of the insurer.  2002, c. 18, Sched. H, s. 4 (15). (2) Repealed: 2019, c. 14, Sched. 9, s. 20. Section Amendments with date in force (d/m/y) 2002, c. 18, Sched. H, s. 4 (15) - 26/11/2002 2019, c. 14, Sched. 9, s. 20 - 10/12/2019
PART II.1 ACTUARY OF THE INSURER
Notice of appointment
121.5 An insurer shall notify the Chief Executive Officer in writing of the appointment forthwith after the appointment of the actuary of the insurer.  2002, c. 18, Sched. H, s. 4 (15); 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 2002, c. 18, Sched. H, s. 4 (15) - 26/11/2002 2018, c. 8, Sched. 13, s. 22 - 08/06/2019
PART II.1 ACTUARY OF THE INSURER
When officers not to be actuary
121.6 (1) Neither the chief executive officer, the chief operating officer nor a person performing similar functions for an insurer shall be appointed as or hold the position of actuary of the insurer without the Chief Executive Officer’s written authorization.  2002, c. 18, Sched. H, s. 4 (15); 2018, c. 8, Sched. 13, s. 23. Duration of authorization (2) An authorization under subsection (1) expires on the earlier of the day specified in the authorization and the day that is six months after the authorization is issued.  2002, c. 18, Sched. H, s. 4 (15). Section Amendments with date in force (d/m/y) 2002, c. 18, Sched. H, s. 4 (15) - 26/11/2002 2018, c. 8, Sched. 13, s. 23 - 08/06/2019
PART II.1 ACTUARY OF THE INSURER
Chief financial officer
121.7 (1) Neither the chief financial officer of an insurer nor a person performing similar functions for an insurer shall be appointed as or hold the position of actuary of the insurer unless,  (a)  the Chief Executive Officer receives a written statement from the audit committee of the insurer indicating that it is satisfied that the duties of both positions will be adequately performed and that the actuarial duties will be performed in an independent manner; and (b)  the Chief Executive Officer authorizes the appointment or the holding of the position with or without conditions.  2002, c. 18, Sched. H, s. 4 (15); 2018, c. 8, Sched. 13, s. 22. Same (2) The conditions may limit the period of time that the officer or person may be the actuary of the insurer.  2002, c. 18, Sched. H, s. 4 (15). Section Amendments with date in force (d/m/y) 2002, c. 18, Sched. H, s. 4 (15) - 26/11/2002 2018, c. 8, Sched. 13, s. 22 - 08/06/2019
PART II.1 ACTUARY OF THE INSURER
Revocation of appointment
121.8 (1) The directors of an insurer may revoke the appointment of the actuary of the insurer.  2002, c. 18, Sched. H, s. 4 (15). Notice of revocation (2) An insurer shall give the Chief Executive Officer written notice of the revocation of an appointment forthwith after the revocation.  2002, c. 18, Sched. H, s. 4 (15); 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 2002, c. 18, Sched. H, s. 4 (15) - 26/11/2002 2018, c. 8, Sched. 13, s. 22 - 08/06/2019