Superintendent
of surintendant des
Financial services
Services financiers
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REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular sections 441.1, 441.2 and 441.3
AND REGARDING Adam Burton Holder (“Mr. Holder”)
ORDER TO IMPOSE AN ADMINISTRATIVE
MONETARY PENALTY
On April 29, 2014, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to impose an Administrative Monetary Penalty in the amount of $1,250 on Mr. Holder. The Superintendent had determined that Mr. Holder did not have errors and omissions insurance from one of the approved providers for the period from January 1, 2013 to January 14, 2014 and April 1, 2013 to June 10, 2013.
Mr. Holder requested a hearing in accordance with the Act. Subsequently the Superintendent and Mr. Holder entered into Minutes of Settlement to resolve this matter and Mr. Holder has undertaken to withdraw the request for hearing.
ORDER
An Administrative Monetary Penalty of $1,250 is imposed on Adam Burton Holder.
TAKE NOTICE THAT Mr. Holder will be receiving shortly an invoice from Ontario Shared Services, a part of the Ministry of Government and Consumer Services, with information as to where and how to make the payment. Mr. Holder must pay the administrative penalty no later than 30 days after the date of the invoice.
If Mr. Holder fails to pay the administrative penalty in accordance with the terms of this Order, the Superintendent may file the Order with the Superior Court of Justice and the Order may be enforced as if it were an order of the court. An administrative penalty that is not paid in accordance with the terms of an order imposing the penalty is a debt due to the Crown and is enforceable as such.
DATED at Toronto, Ontario, February 25, 2015.
Original signed by “Brian Mills”
_________________________________
Brian Mills
Superintendent of Financial Services