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C.C.S.M. c. I40
The Insurance Act
Table of Contents
| PART XII | ||
| 326 and 327 | [Repealed] | |
| PART XIII | ||
| MUTUAL INSURANCE COMPANIES | ||
| 328 | Application of Part | |
| (2) | Provisions of this Part to prevail | |
| 329 | Limitation on mutual insurance company business | |
| CONTRACTS | ||
| 330 | Duration of policies | |
| 331 | Commencing business | |
| 332 | Policies and applications | |
| RATES OF INSURANCE | ||
| 333 | Rates and amount | |
| (2) | Rates of hail insurance in special areas | |
| 334 | Reinsurance | |
| 335 | Minimum property insurance premium rates | |
| (2) | Premium rates when reserve is at maximum | |
| CANCELLATION AND TRANSFER OF CONTRACTS |
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| 336 | Liability of insured on cancellation | |
| 337 | Assignment of policy | |
| (2) | Assignment as collateral security | |
| PREMIUM NOTES AND ASSESSMENTS | ||
| 338 | Premium rates | |
| 339 | No lien on land | |
| 340 | Premium part cash | |
| (2) | Surplus of assessments | |
| 341 | Assessments | |
| (2) | Notice of assessment | |
| (3) | Requirements of notice | |
| 342 | Assessments in hail companies | |
| 343 | Non-payment of assessment voids policy | |
| (2) | Liability continues | |
| 344 | Assessments to be proportionate | |
| 345 | Suit for assessment | |
| 346 | Certificate of insurer evidence | |
| 347 | Surrender of note | |
| LOSSES UNDER CONTRACTS | ||
| 348 | Retention of amount of note | |
| 349 | Execution against insurer | |
| 350 | Setting off debts against hail losses | |
| 351 | Deduction | |
| RESERVE AND GUARANTEE FUND | ||
| 352 | Creation of reserve fund | |
| (2) | Application against losses | |
| (3) | Property in reserve fund | |
| 353 | Reserve fund of hail companies | |
| PART XIV | ||
| RECIPROCAL AND INTER-INSURANCE EXCHANGES |
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| 354 | Definitions | |
| 355 | Authority for exchange of reciprocal contracts of insurance | |
| 356 | Subscribers not insurers | |
| 357 | Execution of contract | |
| (2) | Who may maintain action | |
| 358 | Declaration by members of exchange | |
| 359 | Licence | |
| 360 | Evidence before issue of licence for | |
| 361 | Service of process | |
| 362 | Maximum single risk per subscriber for property insurance | |
| (2) | Attorney's statement about subscriber risk | |
| 363 | Exchange must maintain a reserve fund | |
| (2) | Exchange must maintain a guarantee fund | |
| (2.1) | Funds must have separate assets | |
| (3) and (4) | [Repealed] | |
| (5) | Deficiency | |
| (6) | Use of funds supplied to make up deficiency | |
| (7) | "Approved securities" | |
| 364 | Investment of surplus and reserve | |
| (2) | Proof of investment in case of other companies | |
| 365 | Contracts for subscribers only | |
| (2) | Reinsurance | |
| 366 | Attorney not to act until licence granted | |
| (2) | Penalty | |
| 367 | Suspension or cancellation of licence | |
| (2) | Publication of notice | |
| 368 | Fire insurance in unlicensed exchange may be effected out of Manitoba | |
| 368.1 | Regulations | |
| PART XV | ||
| AGENTS, BROKERS AND ADJUSTERS | ||
| INSURANCE AGENTS | ||
| 369 | Not to act without licence | |
| (2) | Selling annuity contracts | |
| 370 | Application for | |
| (2) | Approved of | |
| (2.1) | Exception re approval | |
| (3) | Who may approve | |
| (3.1) | Duty of care of person or insurer giving approval | |
| (4) | Proof of liability insurance required on application | |
| 371 | Issue of licence | |
| (1.1) | Liability insurance required | |
| (2) | Refusal of licence | |
| (3) | Restriction on issue of licences | |
| (4) | Certificate of authority of corporation, etc., and naming of operating agent | |
| (5) | Restriction thereon | |
| (6) | Substitution of "licence" etc., for "certificate of authority" | |
| (7) and (8) | [Repealed] | |
| (9) | Regulation prescribing functions of agent | |
| (10) | Agent may hold out as broker | |
| 372 | Classes of licences | |
| 372.1 | Failure to have liability insurance | |
| (2) | Notice to superintendent | |
| 373 | Expiry and renewal of licence | |
| (1.1) | Proof of liability insurance required on renewal | |
| (2) | Where agency terminated | |
| (2.1) | Approval of reinstatement of licence | |
| (3) | Regulations to alter renewal date | |
| 374 | [Repealed] | |
| 375 | Investigation by superintendent, etc. | |
| (1.1) | Disciplinary actions by the superintendent | |
| (1.2) | Deadline for payment of a fine or costs | |
| (1.3) | Extension of deadline | |
| (1.4) | Method of giving notice | |
| (1.5) | Payment of fine or costs postponed pending appeal | |
| (1.6) | Failure to pay fine or costs | |
| (1.7) | Interest payable on unpaid fines and costs | |
| (1.8) | Fines and costs receivable by superintendent | |
| (1.9) | Failing to meet deadline to comply with an order of appeal board | |
| (1.10) | Suspension after extension of deadline to comply | |
| (2) | Privileged information | |
| 376 | No new licence for one year after cancellation | |
| 377 | Exemption of holder | |
| (2) | Limitation on effect of subsection (1) | |
| 378 | May not offer compensation to prospect | |
| (2) | No commission if not a holder | |
| (3) | Certain agreements respecting premiums prohibited | |
| (4) | Rebates of premiums, etc., prohibited | |
| (5) | Exceptions | |
| (6) | Agents of fraternal societies | |
| (7) | Salaried officials, etc., acting without licence | |
| (8) | Exception | |
| (9) | Exception | |
| (10) | Head office employees | |
| (11) | Payment of commission restricted | |
| (12) | Twisting life insurance policies prohibited | |
| (13) | Offence to solicit cancellation of policy | |
| 379 | Reciprocal arrangement respecting agents | |
| 380 | [Repealed] | |
| 380.1 | Meaning of "incidental seller of insurance" | |
| (2) | Issuing restricted insurance agent licences | |
| (3) | Effect of licence | |
| (4) | Application of certain provisions | |
| (5) | Regulations | |
| SPECIAL INSURANCE BROKER'S LICENCE FOR BUSINESS WITH UNLICENSED INSURERS |
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| 381 | Special insurance broker's licence | |
| (2) | Application | |
| (3) | Issue of licence | |
| (3.1) | Term of licence | |
| (4) | Renewal | |
| (5) | Security required | |
| (6) | Suspending or cancelling a licence | |
| (7) | When suspension or cancellation is automatic | |
| (8) | Personal liability of special insurance broker | |
| 382 | Arranging insurance with unlicensed insurers | |
| (2) | Statement from insured required | |
| (3) | [Repealed] | |
| (4) | Records of contracts with unlicensed insurers | |
| (5) | Inspection of records | |
| 383 | Release of security | |
| 384 | Prohibition accepting contracts from agents | |
| LICENCES OF INSURANCE ADJUSTERS | ||
| 385 | Issuing licences | |
| (2) | Restriction on issue of licences | |
| (3) | Application for licence | |
| (4) | Issue of licence | |
| (5) | Requirements for adjuster's licence | |
| (5.1) | Liability insurance required | |
| (6) | Renewal | |
| (6.1) | Proof of liability insurance required on renewal | |
| (7) | Investigation by superintendent, etc. | |
| (7.1) | Application of subsections 375(1.2) to (1.8) | |
| (8) | Offence | |
| (8.1) | Failure to have liability insurance | |
| (8.2) | Notice to superintendent | |
| (9) | Persons to whom this section does not apply | |
| 386 | Prohibition against acting as assistant adjuster | |
| (2) | Application | |
| (3) | Issue of licence | |
| (4) | Issue of renewal licence | |
| (5) | Employment of assistant adjuster | |
| (6) | Transfer of services | |
| (7) | Suspension of licence on termination of employment | |
| (8) | Term of licence | |
| (9) | Investigation by superintendent | |
| (9.1) | Application of subsections 375(1.2) to (1.8) | |
| 387 | Solicitation for adjustment prohibited | |
| (2) | Exception | |
| 388 | Disclosure of name of insurer | |
| LICENSING APPEALS AND THE INSURANCE AGENTS' AND ADJUSTERS' LICENSING APPEAL BOARD |
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| 389 | Definitions | |
| 389.0.1 | Appeal from decision of superintendent | |
| (2) | Notice of appeal form to be given with superintendent's decision | |
| (3) | Contents of notice of appeal | |
| (4) | How appeals are dealt with | |
| (5) | Reinstatement of suspended or cancelled licence | |
| (6) | How reinstatement applications are dealt with | |
| (7) | Forms to be approved by superintendent | |
| 389.0.2 | Late filing of notice of appeal | |
| (2) | Extension of time limit by consent | |
| (3) | Extension of time limit when superintendent does not consent | |
| 389.1 | Co-ordinator of appeals | |
| (1.1) | Delegation by co-ordinator of appeals | |
| (2) and (3) | [Repealed] | |
| (4) | Duties of co-ordinator of appeals | |
| (4.1) | Application of subsection (4) — late filings | |
| (5) | Method of notification to appellant | |
| 389.2 | Establishment of appeal board | |
| (2) | Membership of the board | |
| (3) | Composition of the board | |
| (4) | Chairperson | |
| (5) | Vice-chairperson | |
| (6) | Hearings by panels of the appeal board | |
| (7) | Constitution of panels | |
| (8) | Substitution of panel members | |
| (9) | Remuneration and expenses | |
| (10) | Oath | |
| 389.3 | Rules of procedure | |
| (2) | Quorum | |
| (3) | New hearing | |
| (3.1) | Who is a party to an appeal | |
| (4) | Representation by counsel | |
| (5) | Decision of board | |
| (6) | [Repealed] | |
| (7) | Majority decision of appeal panel and voting | |
| (8) | Withdrawal of panel member | |
| (9) | Appeal hearing may proceed in absence of appellant | |
| (10) | Adjournment of hearings | |
| (11) | Written notification of decision | |
| (12) | Powers of board | |
| (13) | Withdrawal of appeal | |
| (14) | Expert witnesses | |
| 389.4 | Application to extend a deadline | |
| (2) | Expedited applications | |
| (3) | Extension of deadline by consent | |
| (4) | Extension of deadline when superintendent does not consent | |
| (5) | Reinstatement of licence by consent | |
| (6) | Imposing conditions on reinstatement of licence | |
| (7) | Reinstatement of licence when superintendent does not consent | |
| 389.5 | Revoking the reinstatement of a licence | |
| (2) | Procedure for revoking reinstatement | |
| AGENTS, BROKERS AND ADJUSTERS GENERALLY |
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| 390 | Effect of payments to agents | |
| 391 | Holding out | |
| 392 | List published | |
| (2) | Personal liability of agent for unlawful contracts | |
| 393 | Payments to agents a trust | |
| 394 | Return of agents by insurer | |
| 395 | [Repealed] | |
| 396 | Restrictions on licence | |
| (2) | Reprimand | |
| (3) | Reprimand, etc. to form part of records | |
| (4) | Removal of reprimands, suspensions or conditions | |
| 396.1 | Definitions | |
| (2) | Regulations establishing insurance councils | |
| (3) | [Repealed] | |
| (4) | Regulations re membership, powers, functions and duties of councils | |
| (5) | Delegation of powers | |
| (6) | Fees | |
| (7) | Specific powers and functions | |
| (8) | Statutes and Regulations Act does not apply | |
| (9) | Rules require approval | |
| (10) | Appeals from licence refusal | |
| (11) | Review of decisions | |
| 396.2 | Regulations | |
| PART XVI | ||
| AMALGAMATION, TRANSFER AND REINSURANCE |
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| 397 | "Reinsurance" defined | |
| 398 | Saving effect | |
| 399 | Transfer and reinsurance | |
| (2) | Reinsurance | |
| 400 | Agreement for | |
| 401 | Petition for in case of life insurers | |
| (2) | Service of notice of hearing | |
| (3) | Fraternal society | |
| (4) | Inspection | |
| 402 | Documents with application | |
| 403 | Hearing of application | |
| 404 | Recommendation of superintendent | |
| 405 | Refusal of recommendation | |
| 406 | Statutory novation on amalgamation, transfer or reinsurance under this Part | |
| 407 | Transfer of contracts where insurer leaves Manitoba | |
| 408 | [Repealed] | |
| 409 | [Repealed] | |
| PART XVII | ||
| OFFENCES AND PENALTIES | ||
| 410 | Offences | |
| (2) | Penalties | |
| (3) | Additional fine | |
| (4) | Continuing offence | |
| (5) | Liability of directors and officers | |
| (6) | Order to comply | |
| (7) | Restitution | |
| (8) | Filing restitution order in Court of Queen's Bench | |
| 411 | Time limit for prosecution | |
| 412 | Application for compliance order | |
| (2) | Compliance order | |
| (3) | Application by an insurance council | |
| SCHEDULE A | ||
| SCHEDULE B | ||
| SCHEDULE C | ||