Acts and Regulations

I-12 - Insurance Act

Section 120.1
Disposition versions

Full text
Withdrawing from automobile insurance business
120.1(1)For the purpose of this section, an insurer is withdrawing from the business of automobile insurance if the insurer does anything that results or is likely to result in a significant reduction in the amount of gross premiums written by the insurer for automobile insurance in any part of New Brunswick, including any of the following things that have or are likely to have that result:
(a) refusing to process applications for automobile insurance;
(b) declining to issue, terminating or refusing to renew contracts of automobile insurance;
(c) refusing to provide or continue coverages or endorsements in respect of contracts of automobile insurance;
(d) taking actions that directly or indirectly result in termination of contracts between the insurer and the agencies, agents or managing general agents who solicit or negotiate contracts of automobile insurance on behalf of the insurer;
(e) reducing the ability of the agencies, agents and managing general agents to solicit or negotiate contracts of automobile insurance on behalf of the insurer;
(f) reducing the insurer’s ability to act as a servicing carrier or ceasing to act as a servicing carrier under the Plan of Operation of the Facility Association;
(g) taking actions that directly or indirectly result in the termination of any contract between the insurer and the Facility Association; or
(h) engaging in any activity or failure to act that is prescribed by the regulations.
120.1(2)An insurer shall not withdraw from the business of automobile insurance except in accordance with this section.
120.1(3)An insurer that intends to withdraw from the business of automobile insurance shall file with the Superintendent a notice in the form provided by the Superintendent.
120.1(4)The notice shall specify the date that the insurer intends to begin to withdraw from the business of automobile insurance and shall be filed at least twelve months before that date.
120.1(5)The Superintendent may require the insurer to provide such information, material and evidence as the Superintendent considers necessary in addition to the information, material and evidence required to be provided in the notice.
120.1(6)The insurer may withdraw from the business of automobile insurance on or after the date specified in the notice under subsection (4).
120.1(7)Despite subsection (6), the Superintendent may authorize the insurer to withdraw from the business of automobile insurance before the date specified in the notice under subsection (4).
120.1(7.1)Despite subsection (6), the Superintendent may prohibit the insurer from withdrawing from the business of automobile insurance until a date specified by the Superintendent that is not later than six months after the date specified in the notice under subsection (4).
120.1(8)The Superintendent may order that the regulations made under paragraph 267.9(1)(a.1) do not apply to a class of contracts, coverages or endorsements specified by the Superintendent to which an insurer is a party.
2003, c.29, s.1; 2004, c.36, s.6; 2008, c.2, s.5; 2013, c.31, s.20; 2021, c.8, s.27
Withdrawing from automobile insurance business
120.1(1)For the purpose of this section, an insurer is withdrawing from the business of automobile insurance if the insurer does anything that results or is likely to result in a significant reduction in the amount of gross premiums written by the insurer for automobile insurance in any part of New Brunswick, including any of the following things that have or are likely to have that result:
(a) refusing to process applications for automobile insurance;
(b) declining to issue, terminating or refusing to renew contracts of automobile insurance;
(c) refusing to provide or continue coverages or endorsements in respect of contracts of automobile insurance;
(d) taking actions that directly or indirectly result in termination of contracts between the insurer and the agents and brokers who solicit or negotiate contracts of automobile insurance on behalf of the insurer;
(e) reducing the ability of the agents or brokers to solicit or negotiate contracts of automobile insurance on behalf of the insurer;
(f) reducing the insurer’s ability to act as a servicing carrier or ceasing to act as a servicing carrier under the Plan of Operation of the Facility Association;
(g) taking actions that directly or indirectly result in the termination of any contract between the insurer and the Facility Association; or
(h) engaging in any activity or failure to act that is prescribed by the regulations.
120.1(2)An insurer shall not withdraw from the business of automobile insurance except in accordance with this section.
120.1(3)An insurer that intends to withdraw from the business of automobile insurance shall file with the Superintendent a notice in the form provided by the Superintendent.
120.1(4)The notice shall specify the date that the insurer intends to begin to withdraw from the business of automobile insurance and shall be filed at least twelve months before that date.
120.1(5)The Superintendent may require the insurer to provide such information, material and evidence as the Superintendent considers necessary in addition to the information, material and evidence required to be provided in the notice.
120.1(6)The insurer may withdraw from the business of automobile insurance on or after the date specified in the notice under subsection (4).
120.1(7)Despite subsection (6), the Superintendent may authorize the insurer to withdraw from the business of automobile insurance before the date specified in the notice under subsection (4).
120.1(7.1)Despite subsection (6), the Superintendent may prohibit the insurer from withdrawing from the business of automobile insurance until a date specified by the Superintendent that is not later than six months after the date specified in the notice under subsection (4).
120.1(8)The Superintendent may order that the regulations made under paragraph 267.9(1)(a.1) do not apply to a class of contracts, coverages or endorsements specified by the Superintendent to which an insurer is a party.
2003, c.29, s.1; 2004, c.36, s.6; 2008, c.2, s.5; 2013, c.31, s.20
Withdrawing from automobile insurance business
120.1(1)For the purpose of this section, an insurer is withdrawing from the business of automobile insurance if the insurer does anything that results or is likely to result in a significant reduction in the amount of gross premiums written by the insurer for automobile insurance in any part of New Brunswick, including any of the following things that have or are likely to have that result:
(a) refusing to process applications for automobile insurance;
(b) declining to issue, terminating or refusing to renew contracts of automobile insurance;
(c) refusing to provide or continue coverages or endorsements in respect of contracts of automobile insurance;
(d) taking actions that directly or indirectly result in termination of contracts between the insurer and the agents and brokers who solicit or negotiate contracts of automobile insurance on behalf of the insurer;
(e) reducing the ability of the agents or brokers to solicit or negotiate contracts of automobile insurance on behalf of the insurer;
(f) reducing the insurer’s ability to act as a servicing carrier or ceasing to act as a servicing carrier under the Plan of Operation of the Facility Association;
(g) taking actions that directly or indirectly result in the termination of any contract between the insurer and the Facility Association; or
(h) engaging in any activity or failure to act that is prescribed by the regulations.
120.1(2)An insurer shall not withdraw from the business of automobile insurance except in accordance with this section.
120.1(3)An insurer that intends to withdraw from the business of automobile insurance shall file with the Superintendent a notice in the form provided by the Superintendent.
120.1(4)The notice shall specify the date that the insurer intends to begin to withdraw from the business of automobile insurance and shall be filed at least twelve months before that date.
120.1(5)The Superintendent may require the insurer to provide such information, material and evidence as the Superintendent considers necessary in addition to the information, material and evidence required to be provided in the notice.
120.1(6)The insurer may withdraw from the business of automobile insurance on or after the date specified in the notice under subsection (4).
120.1(7)Despite subsection (6), the Superintendent may authorize the insurer to withdraw from the business of automobile insurance before the date specified in the notice under subsection (4).
120.1(7.1)Despite subsection (6), the Superintendent may prohibit the insurer from withdrawing from the business of automobile insurance until a date specified by the Superintendent that is not later than six months after the date specified in the notice under subsection (4).
120.1(8)The Superintendent may order that the regulations made under paragraph 267.9(1)(a.1) do not apply to a class of contracts, coverages or endorsements specified by the Superintendent to which an insurer is a party.
2003, c.29, s.1; 2004, c.36, s.6; 2008, c.2, s.5; 2013, c.31, s.20
Withdrawing from automobile insurance business
120.1(1)For the purpose of this section, an insurer is withdrawing from the business of automobile insurance if the insurer does anything that results or is likely to result in a significant reduction in the amount of gross premiums written by the insurer for automobile insurance in any part of New Brunswick, including any of the following things that have or are likely to have that result:
(a) refusing to process applications for automobile insurance;
(b) declining to issue, terminating or refusing to renew contracts of automobile insurance;
(c) refusing to provide or continue coverages or endorsements in respect of contracts of automobile insurance;
(d) taking actions that directly or indirectly result in termination of contracts between the insurer and the agents and brokers who solicit or negotiate contracts of automobile insurance on behalf of the insurer;
(e) reducing the ability of the agents or brokers to solicit or negotiate contracts of automobile insurance on behalf of the insurer;
(f) reducing the insurer’s ability to act as a servicing carrier or ceasing to act as a servicing carrier under the Plan of Operation of the Facility Association;
(g) taking actions that directly or indirectly result in the termination of any contract between the insurer and the Facility Association; or
(h) engaging in any activity or failure to act that is prescribed by the regulations.
120.1(2)An insurer shall not withdraw from the business of automobile insurance except in accordance with this section.
120.1(3)An insurer that intends to withdraw from the business of automobile insurance shall file with the Superintendent a notice in the form provided by the Superintendent.
120.1(4)The notice shall specify the date that the insurer intends to begin to withdraw from the business of automobile insurance and shall be filed at least twelve months before that date.
120.1(5)The Superintendent may require the insurer to provide such information, material and evidence as the Superintendent considers necessary in addition to the information, material and evidence required to be provided in the notice.
120.1(6)The insurer may withdraw from the business of automobile insurance on or after the date specified in the notice under subsection (4).
120.1(7)Despite subsection (6), the Superintendent may authorize the insurer to withdraw from the business of automobile insurance before the date specified in the notice under subsection (4).
120.1(7.1)Despite subsection (6), the Lieutenant-Governor in Council, on recommendation of the Superintendent, may prohibit the insurer from withdrawing from the business of automobile insurance until a date specified by the Lieutenant-Governor in Council that is not later than six months after the date specified in the notice under subsection (4).
120.1(8)The Superintendent may order that the regulations made under paragraph 267.9(1)(a.1) do not apply to a class of contracts, coverages or endorsements specified by the Superintendent to which an insurer is a party.
2003, c.29, s.1; 2004, c.36, s.6; 2008, c.2, s.5
Withdrawing from automobile insurance business
120.1(1)For the purpose of this section, an insurer is withdrawing from the business of automobile insurance if the insurer does anything that results or is likely to result in a significant reduction in the amount of gross premiums written by the insurer for automobile insurance in any part of New Brunswick, including any of the following things that have or are likely to have that result:
(a) refusing to process applications for automobile insurance;
(b) declining to issue, terminating or refusing to renew contracts of automobile insurance;
(c) refusing to provide or continue coverages or endorsements in respect of contracts of automobile insurance;
(d) taking actions that directly or indirectly result in termination of contracts between the insurer and the agents and brokers who solicit or negotiate contracts of automobile insurance on behalf of the insurer;
(e) reducing the ability of the agents or brokers to solicit or negotiate contracts of automobile insurance on behalf of the insurer;
(f) reducing the insurer’s ability to act as a servicing carrier or ceasing to act as a servicing carrier under the Plan of Operation of the Facility Association;
(g) taking actions that directly or indirectly result in the termination of any contract between the insurer and the Facility Association; or
(h) engaging in any activity or failure to act that is prescribed by the regulations.
120.1(2)An insurer shall not withdraw from the business of automobile insurance except in accordance with this section.
120.1(3)An insurer that intends to withdraw from the business of automobile insurance shall file with the Superintendent a notice in the form provided by the Superintendent.
120.1(4)The notice shall specify the date that the insurer intends to begin to withdraw from the business of automobile insurance and shall be filed at least twelve months before that date.
120.1(5)The Superintendent may require the insurer to provide such information, material and evidence as the Superintendent considers necessary in addition to the information, material and evidence required to be provided in the notice.
120.1(6)The insurer may withdraw from the business of automobile insurance on or after the date specified in the notice under subsection (4).
120.1(7)Notwithstanding subsection (6), the Lieutenant-Governor in Council may
(a) authorize the insurer to withdraw from the business of automobile insurance before the date specified in the notice under subsection (4), or
(b) prohibit the insurer from withdrawing from the business of automobile insurance until a date specified by the Lieutenant-Governor in Council that is not later than six months after the date specified in the notice under subsection (4).
120.1(8)The Superintendent may order that the regulations made under paragraph 267.9(1)(a.1) do not apply to a class of contracts, coverages or endorsements specified by the Superintendent to which an insurer is a party.
2003, c.29, s.1; 2004, c.36, s.6