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O. Reg. 67/07: COMPENSATION ASSOCIATIONS

filed February 26, 2007 under Insurance Act, R.S.O. 1990, c. I.8

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ONTARIO REGULATION 67/07

made under the

INSURANCE ACT

Made: February 21, 2007
Filed: February 26, 2007
Published on e-Laws: February 27, 2007
Printed in The Ontario Gazette: March 17, 2007

COMPENSATION ASSOCIATIONS

Designation of compensation associations

1. The following bodies corporate are designated as compensation associations:

1. Canadian Life and Health Insurance Compensation Corporation/Société canadienne d’indemnisation pour les assurances de personnes.

2. Property and Casualty Insurance Compensation Corporation/Société d’indemnisation en matière d’assurances IARD.

Designation of classes of insurers

2. Canadian Life and Health Insurance Compensation Corporation/Société canadienne d’indemnisation pour les assurances de personnes is designated as the compensation association for the following classes of insurers:

1. Insurers, other than fraternal societies, that are licensed for life insurance.

2. Insurers, other than fraternal societies, that are licensed only for accident and sickness insurance.

3. Insurers, other than fraternal societies, that are licensed only for accident and sickness insurance and credit protection insurance.

Same

3. Property and Casualty Insurance Compensation Corporation/Société d’indemnisation en matière d’assurances IARD is designated as the compensation association for the following classes of insurers:

1. Insurers that are licensed for automobile insurance, boiler and machinery insurance, legal expenses insurance, liability insurance, other approved products insurance, or property insurance.

2. Insurers that are licensed for accident and sickness insurance, other than insurers described in section 2.

3. Insurers that are licensed only for credit protection insurance.

Revocation

4. Regulation 667 of the Revised Regulations of Ontario, 1990 is revoked.

Commencement

5. This Regulation comes into force on the later of the following dates:

1. The date subsection 4 (14) of Schedule H to the Government Efficiency Act, 2002 comes into force.

2. The date this Regulation is filed.