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A-32 - Act respecting insurance

Section 358
Disposition versions

Full text
358. The Authority may suspend or cancel the licence of any insurer
(a)  which no longer complies with the conditions prescribed;
(b)  which becomes or, in the opinion of the Authority, is about to become insolvent;
(c)  of which the assets are insufficient, in the opinion of the Authority, to provide adequate protection of the insured;
(d)  (paragraph repealed);
(e)  (paragraph repealed);
(f)  which omits to pay, within the 60 days following an offer of discharge or a notice of non-payment notified to the Authority, an indemnity requested in application of an insurance contract if the right to such indemnity or the amount of it is not contested or, in case of contestation, if a final judgment has declared it exigible;
(g)  which does not, in the opinion of the Authority, adhere to sound and prudent management practices, adhere to the commercial practices referred to in section 222.2 or comply with the requirements under section 285.29;
(g.1)   where a holding company controlled by the insurer does not, in the opinion of the Authority, adhere to sound and prudent management practices;
(g.2)  where the holding company that controls the insurer directly or a holding company controlled by the insurer has not deposited an undertaking enabling the Authority or the representatives designated by the Authority to enter, at any reasonable time, the head office of the holding company and its other establishments situated outside Québec and permitting the application of subparagraphs 2 and 3 of the first and second paragraphs of section 10, for the purposes of the inspection of the holding company’s internal affairs and activities, or has failed to fulfil such an undertaking ;
(h)  which is, in the opinion of the Authority, in an unsatisfactory financial position that cannot be remedied;
(i)  which has committed an offence or which, in the opinion of the Authority, contravenes this Act, any Act of Québec or of another province or of the Parliament of Canada which governs its activities or a regulation or rule made under such Acts;
(j)  which has obtained such licence through fraud or as the result of an error;
(k)  which contravenes an order of the Authority, notwithstanding any application for judicial review, or an injunction issued upon application by the Authority.
The Authority may also modify the licence of an insurer coming under the first paragraph so as to withdraw authorization to transact classes of insurance.
1974, c. 70, s. 358; 1982, c. 52, s. 80; 1984, c. 22, s. 73; 1990, c. 86, s. 47; 2002, c. 45, s. 238; 2002, c. 70, s. 140; 2004, c. 37, s. 90; 2008, c. 7, s. 43; 2014, c. 1, s. 779; I.N. 2016-01-01 (NCCP).
358. The Authority may suspend or cancel the licence of any insurer
(a)  which no longer complies with the conditions prescribed;
(b)  which becomes or, in the opinion of the Authority, is about to become insolvent;
(c)  of which the assets are insufficient, in the opinion of the Authority, to provide adequate protection of the insured;
(d)  (paragraph repealed);
(e)  (paragraph repealed);
(f)  which omits to pay, within the 60 days following an offer of discharge or a notice of non-payment served on the Authority, an indemnity requested in application of an insurance contract if the right to such indemnity or the amount of it is not contested or, in case of contestation, if a final judgment has declared it exigible;
(g)  which does not, in the opinion of the Authority, adhere to sound and prudent management practices, adhere to the commercial practices referred to in section 222.2 or comply with the requirements under section 285.29;
(g.1)   where a holding company controlled by the insurer does not, in the opinion of the Authority, adhere to sound and prudent management practices;
(g.2)  where the holding company that controls the insurer directly or a holding company controlled by the insurer has not deposited an undertaking enabling the Authority or the representatives designated by the Authority to enter, at any reasonable time, the head office of the holding company and its other establishments situated outside Québec and permitting the application of subparagraphs 2 and 3 of the first and second paragraphs of section 10, for the purposes of the inspection of the holding company’s internal affairs and activities, or has failed to fulfil such an undertaking ;
(h)  which is, in the opinion of the Authority, in an unsatisfactory financial position that cannot be remedied;
(i)  which has committed an offence or which, in the opinion of the Authority, contravenes this Act, any Act of Québec or of another province or of the Parliament of Canada which governs its activities or a regulation or rule made under such Acts;
(j)  which has obtained such licence through fraud or as the result of an error;
(k)  which contravenes an order of the Authority, notwithstanding any extraordinary recourse, or an injunction issued upon application by the Authority.
The Authority may also modify the licence of an insurer coming under the first paragraph so as to withdraw authorization to transact classes of insurance.
1974, c. 70, s. 358; 1982, c. 52, s. 80; 1984, c. 22, s. 73; 1990, c. 86, s. 47; 2002, c. 45, s. 238; 2002, c. 70, s. 140; 2004, c. 37, s. 90; 2008, c. 7, s. 43.
358. The Authority may suspend or cancel the licence of any insurer
(a)  which no longer complies with the conditions prescribed;
(b)  which becomes or, in the opinion of the Authority, is about to become insolvent;
(c)  of which the assets are insufficient, in the opinion of the Authority, to provide adequate protection of the insured;
(d)  (paragraph repealed);
(e)  (paragraph repealed);
(f)  which omits to pay, within the 60 days following an offer of discharge or a notice of non-payment served on the Authority, an indemnity requested in application of an insurance contract if the right to such indemnity or the amount of it is not contested or, in case of contestation, if a final judgment has declared it exigible;
(g)  which does not, in the opinion of the Authority, adhere to sound and prudent management practices, in particular those relating to commercial practices;
(g.1)   where a holding company controlled by the insurer does not, in the opinion of the Authority, adhere to sound and prudent management practices;
(g.2)  where the holding company that controls the insurer directly or a holding company controlled by the insurer has not deposited an undertaking enabling the Authority or the representatives designated by the Authority to enter, at any reasonable time, the head office of the holding company and its other establishments situated outside Québec and permitting the application of subparagraphs 2 and 3 of the first and second paragraphs of section 10, for the purposes of the inspection of the holding company’s internal affairs and activities, or has failed to fulfil such an undertaking ;
(h)  which is, in the opinion of the Authority, in an unsatisfactory financial position that cannot be remedied;
(i)  which has committed an offence or which, in the opinion of the Authority, contravenes this Act, any Act of Québec or of another province or of the Parliament of Canada which governs its activities or a regulation or rule made under such Acts;
(j)  which has obtained such licence through fraud or as the result of an error;
(k)  which contravenes an order of the Authority, notwithstanding any extraordinary recourse, or an injunction issued upon application by the Authority.
The Authority may also modify the licence of an insurer coming under the first paragraph so as to withdraw authorization to transact classes of insurance.
1974, c. 70, s. 358; 1982, c. 52, s. 80; 1984, c. 22, s. 73; 1990, c. 86, s. 47; 2002, c. 45, s. 238; 2002, c. 70, s. 140; 2004, c. 37, s. 90.
358. The Agency may suspend or cancel the licence of any insurer
(a)  which no longer complies with the conditions prescribed;
(b)  which becomes or, in the opinion of the Agency, is about to become insolvent;
(c)  of which the assets are insufficient, in the opinion of the Agency, to provide adequate protection of the insured;
(d)  (paragraph repealed);
(e)  (paragraph repealed);
(f)  which omits to pay, within the 60 days following an offer of discharge or a notice of non-payment served on the Agency, an indemnity requested in application of an insurance contract if the right to such indemnity or the amount of it is not contested or, in case of contestation, if a final judgment has declared it exigible;
(g)  which does not, in the opinion of the Agency, adhere to sound and prudent management practices, in particular those relating to commercial practices;
(g.1)   where a holding company controlled by the insurer does not, in the opinion of the Agency, adhere to sound and prudent management practices;
(g.2)  where the holding company that controls the insurer directly or a holding company controlled by the insurer has not deposited an undertaking enabling the Agency or the representatives designated by the Agency to enter, at any reasonable time, the head office of the holding company and its other establishments situated outside Québec and permitting the application of subparagraphs 2 and 3 of the first and second paragraphs of section 10, for the purposes of the inspection of the holding company’s internal affairs and activities, or has failed to fulfil such an undertaking ;
(h)  which is, in the opinion of the Agency, in an unsatisfactory financial position that cannot be remedied;
(i)  which has committed an offence or which, in the opinion of the Agency, contravenes this Act, any Act of Québec or of another province or of the Parliament of Canada which governs its activities or a regulation or rule made under such Acts;
(j)  which has obtained such licence through fraud or as the result of an error;
(k)  which contravenes an order of the Agency, notwithstanding any extraordinary recourse, or an injunction issued upon application by the Agency.
The Agency may also modify the licence of an insurer coming under the first paragraph so as to withdraw authorization to transact classes of insurance.
1974, c. 70, s. 358; 1982, c. 52, s. 80; 1984, c. 22, s. 73; 1990, c. 86, s. 47; 2002, c. 45, s. 238; 2002, c. 70, s. 140.
358. The Agency may suspend or cancel the licence of any insurer
(a)  which no longer complies with the conditions prescribed;
(b)  which becomes or, in the opinion of the Agency, is about to become insolvent;
(c)  of which the assets are insufficient, in the opinion of the Agency, to provide adequate protection of the insured;
(d)  which has not made the deposit exigible under this Act;
(e)  the deposit of which no longer conforms to the requirements of Chapter II of this title;
(f)  which omits to pay, within the 60 days following an offer of discharge or a notice of non-payment served on the Agency, an indemnity requested in application of an insurance contract if the right to such indemnity or the amount of it is not contested or, in case of contestation, if a final judgment has declared it exigible;
(g)  which does not, in the opinion of the Agency, adhere to sound and prudent management practices, in particular those relating to commercial practices;
(h)  which is, in the opinion of the Agency, in an unsatisfactory financial position that cannot be remedied;
(i)  which has committed an offence or which, in the opinion of the Agency, contravenes this Act, any Act of Québec or of another province or of the Parliament of Canada which governs its activities or a regulation or rule made under such Acts;
(j)  which has obtained such licence through fraud or as the result of an error;
(k)  which contravenes an order of the Agency, notwithstanding any extraordinary recourse, or an injunction issued upon application by the Agency.
1974, c. 70, s. 358; 1982, c. 52, s. 80; 1984, c. 22, s. 73; 1990, c. 86, s. 47; 2002, c. 45, s. 238.
358. The Inspector General may suspend or cancel the licence of any insurer
(a)  which no longer complies with the conditions prescribed;
(b)  which becomes or, in the opinion of the Inspector General, is about to become insolvent;
(c)  of which the assets are insufficient, in the opinion of the Inspector General, to provide adequate protection of the insured;
(d)  which has not made the deposit exigible under this Act;
(e)  the deposit of which no longer conforms to the requirements of Chapter II of this title;
(f)  which omits to pay, within the 60 days following an offer of discharge or a notice of non-payment served on the Inspector General, an indemnity requested in application of an insurance contract if the right to such indemnity or the amount of it is not contested or, in case of contestation, if a final judgment has declared it exigible;
(g)  which does not, in the opinion of the Inspector General, adhere to sound financial and commercial practices;
(h)  which is, in the opinion of the Inspector General, in an unsatisfactory financial position that cannot be remedied;
(i)  which has committed an offence or which, in the opinion of the Inspector General, contravenes this Act, any Act of Québec or of another province or of the Parliament of Canada which governs its activities or a regulation or rule made under such Acts;
(j)  which has obtained such licence through fraud or as the result of an error;
(k)  which contravenes an order of the Inspector General, notwithstanding any extraordinary recourse, or an injunction issued upon application by the Inspector General.
1974, c. 70, s. 358; 1982, c. 52, s. 80; 1984, c. 22, s. 73; 1990, c. 86, s. 47.
358. The Inspector General may suspend or cancel the licence of any insurer
(a)  which no longer complies with the conditions prescribed;
(b)  which becomes or, in the opinion of the Inspector General, is about to become insolvent;
(c)  of which the assets are insufficient, in the opinion of the Inspector General, to provide adequate protection of the insured;
(d)  which has not made the deposit exigible under this Act;
(e)  the deposit of which no longer conforms to the requirements of Chapter II of this title;
(f)  which omits to pay, within the sixty days following an offer of discharge or a notice of non-payment served on the Inspector General, an indemnity requested in application of an insurance contract if the right to such indemnity or the amount of it is not contested or, in case of contestation, if a final judgment has declared it exigible;
(g)  which does not, in the opinion of the Inspector General, adhere to sound financial and commercial practices;
(h)  which is, in the opinion of the Inspector General, in an unsatisfactory financial position that cannot be remedied;
(i)  which has committed an offence or which, in the opinion of the Inspector General, contravenes this Act, any Act of Québec or of another province or of the Parliament of Canada which governs its activities or a regulation or rule made under such Acts;
(j)  which has obtained such licence through fraud or as the result of an error.
1974, c. 70, s. 358; 1982, c. 52, s. 80; 1984, c. 22, s. 73.
358. The Inspector General may suspend the licence of any insurer:
(a)  which no longer complies with the conditions prescribed;
(b)  which becomes or is about to become insolvent;
(c)  which has not made the deposit exigible under this act;
(d)  the deposit of which no longer conforms to the requirements of Chapter II of this title;
(e)  which omits to pay, within the sixty days following an offer of discharge or a notice of non-payment served on the Inspector General, an indemnity requested in application of an insurance contract if the right to such indemnity or the amount of it is not contested or, in case of contestation, if a final judgment has declared it exigible;
(f)  which contravenes this act or the regulations.
1974, c. 70, s. 358; 1982, c. 52, s. 80.
358. The Superintendent may suspend the licence of any insurer:
(a)  which no longer complies with the conditions prescribed;
(b)  which becomes or is about to become insolvent;
(c)  which has not made the deposit exigible under this act;
(d)  the deposit of which no longer conforms to the requirements of Chapter II of this title;
(e)  which omits to pay, within the sixty days following an offer of discharge or a notice of non-payment served on the Superintendent, an indemnity requested in application of an insurance contract if the right to such indemnity or the amount of it is not contested or, in case of contestation, if a final judgment has declared it exigible;
(f)  which contravenes this act or the regulations.
1974, c. 70, s. 358.
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