74(1)Every licensed insurer that carries on the business of fire insurance shall, if the Superintendent so directs, keep a record of its premium income derived from risks located in the Province and of claims paid in respect of such risks so as to show at any time its experience according to the classification of occupancy hazards of the National Board of Fire Underwriters, with such modifications as the Superintendent prescribes.

74(2)If, at any time, it appears to the Superintendent that the records referred to in subsection (1) are not kept in a manner that shows correctly the experience of the insurer, the Superintendent may nominate an accountant to proceed under his or her direction to audit the books and records of the insurer and to give any instructions that will enable the insurer to keep the records correctly.

74(3)The reasonable expense of such an audit and necessary travelling expenses shall, when certified and approved under the hand of the Superintendent, be paid forthwith by the insurer.

74(4)Every licensed insurer undertaking the business of fire insurance shall prepare and file annually with the Superintendent on or before the first day of May in each year, on a printed form to be supplied by the Superintendent, a sworn statement of the premium income and losses experienced within the Province for the year last preceding the date of the return according to the records required to be kept by this section.

74(1)Every licensed insurer that carries on the business of fire insurance shall, if the Superintendent so directs, keep a record of its premium income derived from risks located in the Province and of claims paid in respect of such risks so as to show at any time its experience according to the classification of occupancy hazards of the National Board of Fire Underwriters, with such modifications as the Superintendent prescribes.

74(2)If, at any time, it appears to the Minister on the report of the Superintendent that such records are not kept in such a manner as to show correctly the experience of the insurer the Minister may nominate an accountant to proceed under his direction to audit the books and records of the insurer and to give such instructions as will enable the insurer to keep the records correctly thereafter.

74(3)The reasonable expense of such an audit and necessary travelling expenses shall, when certified and approved under the hand of the Superintendent, be paid forthwith by the insurer.

74(4)Every licensed insurer undertaking the business of fire insurance shall prepare and file annually with the Superintendent on or before the first day of May in each year, on a printed form to be supplied by the Superintendent, a sworn statement of the premium income and losses experienced within the Province for the year last preceding the date of the return according to the records required to be kept by this section.

74(1)Every licensed insurer that carries on the business of fire insurance shall, if the Superintendent so directs, keep a record of its premium income derived from risks located in the Province and of claims paid in respect of such risks so as to show at any time its experience according to the classification of occupancy hazards of the National Board of Fire Underwriters, with such modifications as the Superintendent prescribes.

74(2)If, at any time, it appears to the Minister on the report of the Superintendent that such records are not kept in such a manner as to show correctly the experience of the insurer the Minister may nominate an accountant to proceed under his direction to audit the books and records of the insurer and to give such instructions as will enable the insurer to keep the records correctly thereafter.

74(3)The reasonable expense of such an audit and necessary travelling expenses shall, when certified and approved under the hand of the Superintendent, be paid forthwith by the insurer.

74(4)Every licensed insurer undertaking the business of fire insurance shall prepare and file annually with the Superintendent on or before the first day of May in each year, on a printed form to be supplied by the Superintendent, a sworn statement of the premium income and losses experienced within the Province for the year last preceding the date of the return according to the records required to be kept by this section.

74(5)Any insurer and the principal officer within the Province of any insurer that contravenes the provisions of this section is guilty of an offence.