Superintendent
of Surintendant des
Financial services
Services financiers
___________________________________________________________________________
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 Nigel Purai
ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY
Nigel Purai holds a life insurance and accident and sickness insurance agent licence issued by the Superintendent, licence number 01064755.
On April 26, 2016, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Administrative Monetary Penalty in the amount of $1,500 on Mr. Purai. The Superintendent determined that Mr. Purai failed to maintain errors and omissions insurance coverage for a period of approximately 8 months in contravention of section 13 of Ontario Regulation 347/04, made under the Act.
The Notice of Proposal was sent by registered mail on April 27, 2016 but was returned as unknown/moved. The Notice of Proposal was sent to a different address of Mr. Purai on May 24, 2016. Mr. Purai had until June 10, 2016 to file a request for hearing with the Financial Services Tribunal (“Tribunal”).
On June 13, 2016, the Registrar of the Tribunal confirmed that neither Mr. Purai nor anyone on his behalf requested a hearing in writing.
ORDER
An Administrative Monetary Penalty in the amount of $1,500 is imposed on Nigel Purai.
TAKE NOTICE THAT Nigel Purai 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. Nigel Purai must pay the Administrative Monetary Penalty no later than 30 days after the date of the invoice.
If Mr. Purai fails to pay the Administrative Monetary 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 Monetary 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, this day of , 2016.
_________________________________
Anatol Monid
Executive Director, Licensing and Market Conduct Division
By Delegated Authority from
The Superintendent of Financial Services