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A-32.1 - Insurers Act
Section 77
Disposition versions
77. The Authority may, if it considers that an authorized insurer’s capital is not adequate to ensure the insurer’s sustainability, order the insurer to adopt a compliance program within the time it prescribes and for the reasons it specifies.
Before exercising the power provided for in the first paragraph, the Authority must notify the insurer and give it at least 10 days to submit observations.
The Authority may not order an authorized insurer other than a Québec insurer to adopt such a program if it may hinder measures taken by the insurer’s home regulator.
In force: 2019-06-13
77. The Authority may, if it considers that an authorized insurer’s capital is not adequate to ensure the insurer’s sustainability, order the insurer to adopt a compliance program within the time it prescribes and for the reasons it specifies.
Before exercising the power provided for in the first paragraph, the Authority must notify the insurer and give it at least 10 days to submit observations.
The Authority may not order an authorized insurer other than a Québec insurer to adopt such a program if it may hinder measures taken by the insurer’s home regulator.
