Statutes of Newfoundland and Labrador 2023 Chapter 19

1. S.2 Amdt.
Definitions

2. S.3.1 Amdt.
Review by board

3. S.3.2 Amdt.
Superintendent and Deputy Superintendent of Insurance

4. S.5 Amdt.
Certain societies

5. S.10 Amdt.
Insurer which may be licensed

6. S.11 Amdt.
Rights and powers of licensed insurer

7. S.14 Amdt.
Restriction on issue of licences

8. S.19 Amdt.
Expenses of incorporation of new company

9. S.61 Amdt.
Application to court for winding up

10. S.63 Amdt.
Remuneration

11. S.64 Amdt.
Proposal to liquidate, etc.

12. S.67 Amdt.
Where no reinsurance

13. S.68 Amdt.
Publication of notice

14. S.69 Amdt.
Liquidator to set aside sums

15. S.71 Amdt.
Information to be filed in court

16. S.75 Amdt.
Duty to furnish information

17. S.77.2 Amdt.
Powers

18. S.77.3 Amdt.
Search and seizure with warrant

19. S.77.4 Amdt.
Production order

20. S.77.5 Amdt.
Interim preservation of property

21. S.79 Amdt.
Classification of contracts, etc.

22. S.80 Amdt.
Share register to be open to superintendent

23. S.81 Amdt.
Record of fire premium income and losses

24. S.84 Amdt.
Auditor's report

25. S.89 R&S
Trafficking in life insurance prohibited

26. S.99 Amdt.
Board of directors

27. S.102 Amdt.
Rates

28. S.104 Amdt.
Termination of contracts

29. S.107 Amdt.
Regulations

30. S.117 Amdt.
Issue of licence

31. S.119 Amdt.
Maximum indemnity

32. S.120 Amdt.
Amount of reserve

33. S.121 Amdt.
Guarantee fund

Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

RSNL1990 c-I-10 as amended

1. (1) Paragraph 2(k) of the Insurance Companies Act is amended by deleting the words "Trial Division" wherever they appear and substituting the words "Supreme Court".

(2) Subparagraph 2(v)(i) of the Act is amended by deleting the number "1" and substituting the word "one".

(3) Paragraph 2(w) of the Act is amended by deleting the words "his or her".

(4) Paragraph 2(hh) of the Act is amended by deleting the works "his or her" wherever they appear and substituting the words "the owner's or driver's".

(5) Section 2 of the Act is amended by adding immediately after paragraph (ss) the following:

(ss.01) "profit provision" means an amount added to automobile insurance premiums to provide a return on the cost of providing insurance;

2. Subsection 3.1(7) of the Act is amended by deleting the number "1" and substituting the word "one".

3. Paragraph 3.2(2)(a) of the Act is amended by deleting the words "his or her" and substituting the words "the superintendent's".

4. Subsection 5(2) of the Act is amended by

(a) deleting the number "1" and substituting the word "one"; and

(b) deleting the words "his or her" and substituting the words "the member's".

5. (1) Subsection 10(3) of the Act is amended by deleting the number "1" and substituting the word "one."

(2) Subsection 10(4) of the Act is amended by deleting the words "he or she is".

6. Subsection 11(3) of the Act is amended by deleting the words "his or her" and substituting the words "the minister's".

7. Section 14 of the Act is amended by deleting the number "1" wherever it appears and substituting the word "one".

8. Subsection 19(3) of the Act is amended by deleting the words "he or she is".

9. Section 61 of the Act is amended by deleting the number "1" wherever it appears and substituting the word "one".

10. Subsection 63(2) of the Act is amended by

(a) deleting the words "he or she" and substituting the words "the provisional liquidator"; and

(b) deleting the number "1st" and substituting the word "first".

11. Subsection 64(1) of the Act is amended by deleting the number "1" and substituting the word "one".

12. Subsection 67(1) of the Act is amended by deleting the words 'his or her" and substituting the words "the provisional liquidator's or the liquidator's".

13. Paragraph 68(b) of the Act is amended by deleting the words "his or her" and substituting the words "the policyholder's".

14. Subsection 69(1) of the Act is amended by deleting the words "his or her" and substituting the words "the liquidator's".

15. Section 71 of the Act is amended by deleting the words "him or her" wherever they appear and substituting the words "the liquidator".

16. Section 75 of the Act is amended by deleting the words "his or her" and substituting the words "the superintendent's".

17. Subsection 77.2(1) of the Act is amended by

(a) deleting the words "him or her" and substituting the words "the person";

(b) deleting the words "Trial Division" wherever they appear and substituting the words "Supreme Court"; and

18. Subsection 77.3(2) of the Act is amended by deleting the words "Trial Division" and substituting the words "Supreme Court".

19. (1) Subsection 77.4(1) of the Act is amended by deleting the words "Trial Division" and substituting the words "Supreme Court".

(2) Subsection 77.4(3) of the Act is amended by deleting the words "he or she is".

(3) Subsection 77.4(4) of the Act is amended by deleting the words "his or her".

20. Section 77.5 of the Act is amended by deleting the words "Trial Division" wherever they appear and substituting the words "Supreme Court".

21. Section 79 of the Act is amended by deleting the words "his or her" and substituting the words "the superintendent's".

22. Section 80 of the Act is amended by deleting the words "his or her" and substituting the words "the superintendent's".

23. Subsection 81(2) of the Act is amended by deleting the words "his or her" and substituting the words "the minister's".

24. Section 84 of the Act is amended by deleting the words "his or her" wherever they appear and substituting the words "the auditor's".

25. Section 89 of the Act is repealed and the following substituted:

Trafficking in life insurance prohibited

89. A person other than an insurer or its authorized agent who advertises or represents to be a purchaser of life insurance policies or of benefits under life insurance policies or who trafficks or trades in life insurance policies for the purpose of procuring the sale, surrender, transfer, assignment, pledge or hypothecation of life insurance policies to themself or another person is guilty of an offence.

26. Subsection 99(4) of the Act is amended by deleting the words "dies, resigns or has his or her appointment" and substituting the words "dies or resigns or the appointment is".

27. Section 102 of the Act is amended by adding immediately after subsection (1) the following:

(1.1) The proposed rates for automobile insurance filed under subsection (1) shall not include a profit provision.

28. Subsection 104(1) of the Act is amended by deleting the number "1" and substituting the word "one".

29. Paragraph 107(d) of the Act is amended by deleting the number "1" and substituting the word "one".

30. Section 117 of the Act is amended by deleting the words "him or her" wherever they appear and substituting the words "the superintendent".

31. Section 119 of the Act is amended by

(a) deleting the words "he or she" and substituting the words "the attorney"; and

(b) deleting the words "his or her" and substituting the words "the attorney's".

32. Subsection 120(1) of the Act is amended by deleting the number "1" and substituting the word "one".

33. Subsection 121(3) of the Act is amended by deleting the number "1st" wherever it appears and substituting the word "first".