Acts and Regulations

I-12 - Insurance Act

Section 373
Disposition versions

Full text
Compliance review
373(1)Without limiting any other compliance powers under this Act or the regulations, the Financial and Consumer Services Commission may appoint in writing a person as a compliance officer for the purpose of ensuring compliance with this Act and the regulations.
373(2)The Financial and Consumer Services Commission shall issue to every compliance officer a certificate of appointment and every compliance officer, in the execution of his or her duties under this Act or the regulations, shall produce his or her certificate of appointment on request.
373(3)For the purpose of determining whether this Act and the regulations are being complied with, a compliance officer, in carrying out a compliance review, may
(a) enter the premises of any insurer or other person licensed under this Act during normal business hours,
(b) require an insurer or other person licensed under this Act or an officer or employee of either of them to produce for inspection, examination, auditing or copying any books, accounts, records or documents relating to the business or affairs of the insurer or other person licensed under this Act,
(c) inspect, examine, audit or copy the books, accounts, records or documents relating to the business or affairs of an insurer or other person licensed under this Act, and
(d) question an insurer or other person licensed under this Act or an officer or employee of either of them in relation to the business or affairs of the insurer or other person licensed under this Act.
373(4)In carrying out a compliance review, a compliance officer may
(a) use a data processing system at the premises where the books, accounts, records or documents are kept,
(b) reproduce any book, account, record or document, and
(c) use any copying equipment at the premises where the books, accounts, records or documents are kept to make copies of any book, account, record or document.
373(5)A compliance officer may carry out a compliance review within or outside the Province.
373(6)A compliance officer shall not enter a private dwelling under subsection (3) unless the compliance officer has the consent of the occupier or has obtained an entry warrant under the Entry Warrants Act.
373(7)Before or after attempting to enter or to have access to any premises, a compliance officer may apply for an entry warrant under the Entry Warrants Act.
373(8)The Financial and Consumer Services Commission may, in circumstances prescribed by regulation, require an insurer or other person licensed under this Act in respect of which a compliance review was carried out to pay the Financial and Consumer Services Commission any fee prescribed by regulation and to reimburse the Financial and Consumer Services Commission for any expenses prescribed by regulation.
373(9)The Lieutenant-Governor in Council may make regulations and the Financial and Consumer Services Commission may make rules prescribing circumstances, fees and expenses for the purposes of subsection (8).
2016, c.36, s.7; 2021, c.8, s.93
Compliance review
373(1)Without limiting any other compliance powers under this Act or the regulations, the Financial and Consumer Services Commission may appoint in writing a person as a compliance officer for the purpose of ensuring compliance with this Act and the regulations.
373(2)The Financial and Consumer Services Commission shall issue to every compliance officer a certificate of appointment and every compliance officer, in the execution of his or her duties under this Act or the regulations, shall produce his or her certificate of appointment on request.
373(3)For the purpose of determining whether this Act and the regulations are being complied with, a compliance officer, in carrying out a compliance review, may
(a) enter the premises of any insurer, agent, broker, adjuster or damage appraiser during normal business hours,
(b) require an insurer, an agent, a broker, an adjuster or a damage appraiser or an officer or employee of any of them to produce for inspection, examination, auditing or copying any books, accounts, records or documents relating to the business or affairs of the insurer, agent, broker, adjuster or damage appraiser,
(c) inspect, examine, audit or copy the books, accounts, records or documents relating to the business or affairs of an insurer, an agent, a broker, an adjuster or a damage appraiser, and
(d) question an insurer, an agent, a broker, an adjuster or a damage appraiser or an officer or employee of any of them in relation to the business or affairs of the insurer, agent, broker, adjuster or damage appraiser.
373(4)In carrying out a compliance review, a compliance officer may
(a) use a data processing system at the premises where the books, accounts, records or documents are kept,
(b) reproduce any book, account, record or document, and
(c) use any copying equipment at the premises where the books, accounts, records or documents are kept to make copies of any book, account, record or document.
373(5)A compliance officer may carry out a compliance review within or outside the Province.
373(6)A compliance officer shall not enter a private dwelling under subsection (3) unless the compliance officer has the consent of the occupier or has obtained an entry warrant under the Entry Warrants Act.
373(7)Before or after attempting to enter or to have access to any premises, a compliance officer may apply for an entry warrant under the Entry Warrants Act.
373(8)The Financial and Consumer Services Commission may, in circumstances prescribed by regulation, require an insurer, an agent, a broker, an adjuster or a damage appraiser in respect of which a compliance review was carried out to pay the Financial and Consumer Services Commission any fee prescribed by regulation and to reimburse the Financial and Consumer Services Commission for any expenses prescribed by regulation.
373(9)The Lieutenant-Governor in Council may make regulations and the Financial and Consumer Services Commission may make rules prescribing circumstances, fees and expenses for the purposes of subsection (8).
2016, c.36, s.7; 2021, c.8, s.93
Compliance review
373(1)Without limiting any other compliance powers under this Act or the regulations, the Financial and Consumer Services Commission may appoint in writing a person as a compliance officer for the purpose of ensuring compliance with this Act and the regulations.
373(2)The Financial and Consumer Services Commission shall issue to every compliance officer a certificate of appointment and every compliance officer, in the execution of his or her duties under this Act or the regulations, shall produce his or her certificate of appointment on request.
373(3)For the purpose of determining whether this Act and the regulations are being complied with, a compliance officer, in carrying out a compliance review, may
(a) enter the premises of any insurer, agent, broker, adjuster or damage appraiser during normal business hours,
(b) require an insurer, an agent, a broker, an adjuster or a damage appraiser or an officer or employee of any of them to produce for inspection, examination, auditing or copying any books, accounts, records or documents relating to the business or affairs of the insurer, agent, broker, adjuster or damage appraiser,
(c) inspect, examine, audit or copy the books, accounts, records or documents relating to the business or affairs of an insurer, an agent, a broker, an adjuster or a damage appraiser, and
(d) question an insurer, an agent, a broker, an adjuster or a damage appraiser or an officer or employee of any of them in relation to the business or affairs of the insurer, agent, broker, adjuster or damage appraiser.
373(4)In carrying out a compliance review, a compliance officer may
(a) use a data processing system at the premises where the books, accounts, records or documents are kept,
(b) reproduce any book, account, record or document, and
(c) use any copying equipment at the premises where the books, accounts, records or documents are kept to make copies of any book, account, record or document.
373(5)A compliance officer may carry out a compliance review within or outside the Province.
373(6)A compliance officer shall not enter a private dwelling under subsection (3) unless the compliance officer has the consent of the occupier or has obtained an entry warrant under the Entry Warrants Act.
373(7)Before or after attempting to enter or to have access to any premises, a compliance officer may apply for an entry warrant under the Entry Warrants Act.
373(8)The Financial and Consumer Services Commission may, in circumstances prescribed by regulation, require an insurer, an agent, a broker, an adjuster or a damage appraiser in respect of which a compliance review was carried out to pay the Financial and Consumer Services Commission any fee prescribed by regulation and to reimburse the Financial and Consumer Services Commission for any expenses prescribed by regulation.
373(9)The Lieutenant-Governor in Council may make regulations prescribing circumstances, fees and expenses for the purposes of subsection (8).
2016, c.36, s.7