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The Insurance Act

C.C.S.M. c. I40

The Insurance Act

326 and 327 Repealed
MUTUAL INSURANCE COMPANIES
328 (1) 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 (1) Rates and amount
(2) Rates of hail insurance in special areas
334 Reinsurance
335 (1) Minimum property insurance premium rates
(2) Premium rates when reserve is at maximum
CANCELLATION AND TRANSFER OF CONTRACTS
336 Liability of insured on cancellation
337 (1) Assignment of policy
(2) Assignment as collateral security
PREMIUM NOTES AND ASSESSMENTS
338 Premium rates
339 No lien on land
340 (1) Premium part cash
(2) Surplus of assessments
341 (1) Assessments
(2) Notice of assessment
(3) Requirements of notice
342 Assessments in hail companies
343 (1) 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 (1) Creation of reserve fund
(2) Application against losses
(3) Property in reserve fund
353 Reserve fund of hail companies
RECIPROCAL AND INTER-INSURANCE EXCHANGES
354 Definitions
355 Authority for exchange of reciprocal contracts of insurance
356 Subscribers not insurers
357 (1) 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 (1) Maximum single risk per subscriber for property insurance
(2) Attorney's statement about subscriber risk
363 (1) 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(3) and (4) Repealed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 (1) Investment of surplus and reserve
(2) Proof of investment in case of other companies
365 (1) Contracts for subscribers only
(2) Reinsurance
366 (1) Attorney not to act until licence granted
(2) Penalty
367 (1) Suspension or cancellation of licence
(2) Publication of notice
368 Fire insurance in unlicensed exchange may be effected out of Manitoba
368.1 Regulations
AGENTS, BROKERS AND ADJUSTERS
INSURANCE AGENTS
369 (1) Not to act without licence
(2) Selling annuity contracts
370 (1) 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 (1) 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 (1) Failure to have liability insurance
(2) Notice to superintendent
373 (1) 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 (1) 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 (1) Exemption of holder
(2) Limitation on effect of subsection (1)
378 (1) 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 (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
381 (1) 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 (1) Arranging insurance with unlicensed insurers
(2) Statement from insured required
(3) Repealed
(4) Records of contracts with unlicensed insurers
(5) Inspection of records
(6)
383 Release of security
384 Prohibition accepting contracts from agents
LICENCES OF INSURANCE ADJUSTERS
385 (1) 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 (1) 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 (1) Solicitation for adjustment prohibited
(2) Exception
388 Disclosure of name of insurer
LICENSING APPEALS AND THE INSURANCE AGENTS' AND ADJUSTERS' LICENSING APPEAL BOARD
389 Definitions
389.0.1 (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 (1) 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 (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 (1) 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 (1) 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 (1) 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 (1) Revoking the reinstatement of a licence
(2) Procedure for revoking reinstatement
AGENTS, BROKERS AND ADJUSTERS GENERALLY
390 Effect of payments to agents
391 Holding out
392 (1) 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 (1) Restrictions on licence
(2) Reprimand
(3) Reprimand, etc. to form part of records
(4) Removal of reprimands, suspensions or conditions
396.1 (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
AMALGAMATION, TRANSFER AND REINSURANCE
397 "Reinsurance" defined
398 Saving effect
399 (1) Transfer and reinsurance
(2) Reinsurance
400 Agreement for
401 (1) 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
OFFENCES AND PENALTIES
410 (1) 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 (1) Application for compliance order
(2) Compliance order
(3) Application by an insurance council
SCHEDULE A
SUPERINTENDENT OF INSURANCE, MANITOBA RECIPROCAL INSURANCE LICENCE
SCHEDULE B
STATUTORY CONDITIONS
SCHEDULE C
STATUTORY CONDITIONS