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A-32 - Act respecting insurance

Section 309
Disposition versions

Full text
309. The annual statement of every insurer must be certified under oath by at least two of its directors and must be accompanied with the report of the auditor and with the actuary’s certificate for the annual report on provisions and reserves.
At the request of the Authority, every insurer shall, within the time it indicates, send to the Authority a report prepared in accordance with section 298.14 or a study prepared in accordance with section 298.13.
1974, c. 70, s. 309; 1979, c. 33, s. 29; 1982, c. 52, s. 80; 1984, c. 22, s. 71; 1985, c. 17, s. 42; 1989, c. 67, s. 1; 1996, c. 63, s. 65; 2002, c. 45, s. 243; 2004, c. 37, s. 90.
309. The annual statement of every insurer must be certified under oath by at least two of its directors and must be accompanied with the report of the auditor and with the actuary’s certificate for the annual report on provisions and reserves.
At the request of the Agency, every insurer shall, within the time it indicates, send to the Agency a report prepared in accordance with section 298.15 or a study prepared in accordance with section 298.13.
1974, c. 70, s. 309; 1979, c. 33, s. 29; 1982, c. 52, s. 80; 1984, c. 22, s. 71; 1985, c. 17, s. 42; 1989, c. 67, s. 1; 1996, c. 63, s. 65; 2002, c. 45, s. 243.
309. The annual statement of every insurer must be certified under oath by at least two of its directors and must be accompanied with the report of the auditor and with the actuary’s certificate for the annual report on provisions and reserves.
At the request of the Inspector General, every insurer shall, within the time he indicates, send to the Inspector General a report prepared in accordance with section 298.15 or a study prepared in accordance with section 298.13.
1974, c. 70, s. 309; 1979, c. 33, s. 29; 1982, c. 52, s. 80; 1984, c. 22, s. 71; 1985, c. 17, s. 42; 1989, c. 67, s. 1; 1996, c. 63, s. 65.
309. The annual statement of every insurer must be certified under oath by at least two of its directors and must be accompanied with the report of the auditor.
Every insurer shall annex to its annual statement the report of an actuary responsible for the valuation of the reserves appointed by a resolution of the board of directors, a copy of which has been transmitted to the Inspector General.
The report must include a certificate of the actuary attesting that the reserves are not less than those required by law, that they were calculated on the basis of appropriate assumptions with respect to the circumstances of the insurer and its contracts of insurance and they make good and sufficient provision to cover all obligations under such contracts; the report must also include such other information as may be required by the Inspector General.
The report is required from mutual benefit associations at such times as may be determined by regulation of the Government.
In the case of an insurer transacting damage insurance, the Inspector General may, for the fiscal years ending on 31 December 1989, 1990 and 1991, accept the appointment of an expert other than an actuary as the person responsible for the valuation of the reserves.
1974, c. 70, s. 309; 1979, c. 33, s. 29; 1982, c. 52, s. 80; 1984, c. 22, s. 71; 1985, c. 17, s. 42; 1989, c. 67, s. 1.
309. The annual statement of every insurer must be certified under oath by at least two of its directors and must be accompanied with the report of the auditor.
Every insurer shall annex to its annual statement the report of an actuary responsible for the valuation of the reserves appointed by a resolution of the board of directors, a copy of which has been transmitted to the Inspector General.
The report must include a certificate of the actuary attesting that the reserves are not less than those required by law, that they were calculated on the basis of appropriate assumptions with respect to the circumstances of the insurer and its contracts of insurance and they make good and sufficient provision to cover all obligations under such contracts; the report must also include such other information as may be required by the Inspector General.
The report is required from mutual benefit associations at such times as may be determined by regulation of the Government.
During a period of five years from 20 June 1984, the Inspector General, in the case of an insurer transacting damage insurance, may accept the designation of an expert other than an actuary who is deemed to be the actuary responsible for the valuation for the purposes of this Act.
1974, c. 70, s. 309; 1979, c. 33, s. 29; 1982, c. 52, s. 80; 1984, c. 22, s. 71; 1985, c. 17, s. 42.
309. The annual statement of every insurer must be certified under oath by at least two of its directors and must be accompanied with the report of the auditor.
Every insurer shall annex to its annual statement the report of an actuary responsible for the valuation of the reserves appointed by a resolution of the board of directors, a copy of which has been transmitted to the Inspector General.
The report must include a certificate of the actuary attesting that the reserves are not less than those required by law, that they were calculated on the basis of appropriate assumptions with respect to the circumstances of the insurer and its contracts of insurance and they make good and sufficient provision to cover all obligations under such contracts; the report must also include such other information as may be required by the Inspector General.
The report is required from mutual associations at such times as may be determined by regulation.
During a period of five years from 20 June 1984, the Inspector General, in the case of an insurer transacting damage insurance, may accept the designation of an expert other than an actuary who is deemed to be the actuary responsible for the valuation for the purposes of this Act.
1974, c. 70, s. 309; 1979, c. 33, s. 29; 1982, c. 52, s. 80; 1984, c. 22, s. 71.
309. The annual statement of every insurer must be certified, under oath, by at least two of its directors and must be accompanied with the report of the auditor.
Every insurer transacting insurance of persons must annex to its annual statement the report of a valuation actuary appointed in respect of its reserves by a resolution of the board of directors, and whose appointment has been announced to the Inspector General by the filing with him of a copy of that resolution.
That report must include a certificate of the valuation actuary attesting that the reserves are not less than those required by law, that they were calculated on the basis of appropriate rates with respect to the circumstances of the insurer and its contracts of insurance of persons and they make good and sufficient provision to cover all obligations under such contracts; the report must also include such other information as may be required by the Inspector General.
That report is required from mutual benefit associations at such times as may be determined by regulation.
1974, c. 70, s. 309; 1979, c. 33, s. 29; 1982, c. 52, s. 80.
309. The annual statement of every insurer must be certified, under oath, by at least two of its directors and must be accompanied with the report of the auditor.
Every insurer transacting insurance of persons must annex to its annual statement the report of a valuation actuary appointed in respect of its reserves by a resolution of the board of directors, and whose appointment has been announced to the Superintendent by the filing with him of a copy of that resolution.
That report must include a certificate of the valuation actuary attesting that the reserves are not less than those required by law, that they were calculated on the basis of appropriate rates with respect to the circumstances of the insurer and its contracts of insurance of persons and they make good and sufficient provision to cover all obligations under such contracts; the report must also include such other information as may be required by the Superintendent.
That report is required from mutual benefit associations at such times as may be determined by regulation.
1974, c. 70, s. 309; 1979, c. 33, s. 29.
309. The annual statement of every insurer must be certified, under oath, by at least two of its directors and must be accompanied with the report of the auditor.
Every insurer transacting the insurance of persons must annex to its annual statement the certificate of an actuary attesting that the reserve is not less than that required by law and that it is sufficient to cover the insurer’s obligations in regard to its insured.
Such certificate shall be required, in the case of mutual benefit associations, at the times determined by regulation.
1974, c. 70, s. 309.
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