December 10, 2003
The Lieutenant Governor in Council makes the Insurance Agents and Adjusters Amendment Regulation set out in the attached Appendix.
For Information only
Recommended by: Minister of Finance
Authority: Insurance Act
1 The Insurance Agents and Adjusters Regulation (AR 122/2001) is amended by this Regulation.
2 Section 9 is amended
(a) in subsection (5.1)(a) by striking out "or suspended" and substituting ", suspended or not renewed";
(b) by repealing subsection (7).
3 Section 29 is amended
(a) by repealing subsection (2) and substituting the following:
(2) The Minister may, on the recommendation of the Accreditation Committee, approve a continuing education provider for the purposes of this subsection, and on the Minister's doing so, that provider is authorized to accredit its own continuing education courses for certificates of authority and the hours of each such course.
(2.1) The Minister may, after taking into consideration any recommendations made by the Accreditation Committee, approve, in respect of a certificate of authority,
(a) continuing education providers for the purposes of this subsection,
(b) the continuing education courses that those providers are authorized to provide, and
(c) the hours of each such course.
(2.2) An approval given under subsection (2) or (2.1) is subject to such terms and conditions as the Minister imposes on the provider.
(b) in subsection (3) by adding "under subsection (2.1)" after "courses approved".
4 Section 30 is amended by adding the following after subsection (7):
(7.1) If a person misses a deadline imposed by any of subsections (1) to (7), then, notwithstanding that provision, the person may complete the 15-hour requirement of that provision after that deadline but, notwithstanding section 32 and anything else in this Regulation to the contrary, the hours so spent in completing that requirement may not be counted toward completing any requirement of any other provision of this Regulation.
5 Section 31 is amended
(a) by renumbering it as section 31(1);
(b) by striking out "requested" and substituting "required";
(c) by adding the following after subsection (1):
(2) If the certificate holder does not provide the record within 14 days after receiving a demand made under subsection (1), the certificate of authority is automatically suspended from the expiration of that period until the demand is complied with.