Superintendent
of Surintendant des
Financial services
Services financiers
___________________________________________________________________________
REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended, in particular sections 441.1, 441.2 and 441.3
AND REGARDING Nimfa Lacorte Manigbas
ADMINISTRATIVE PENALTY ORDER
Nimfa Lacorte Manigbas (“Mrs. Manigbas”) holds a life insurance and accident and sickness insurance agent licence issued to her under the terms of the Insurance Act (the “Act”). Her licence number is 12127102.
On March 13, 2017, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Administrative Penalty (the “notice of proposal”) in the amount of $2,000 on Mrs. Manigbas. The Superintendent determined that Mrs. Manigbas contravened section 13 of Ontario Regulation 347/04 made under the Act by failing to maintain errors and omissions insurance coverage at all times while licensed as a life insurance and accident and sickness insurance agent, specifically during the period from June 1, 2015, to August 12, 2016.
Mrs. Manigbas requested a hearing before the Financial Services Tribunal in accordance with the Act. The hearing was conducted in writing. In a decision dated July 27, 2017, the Tribunal directed the Superintendent to impose an administrative penalty of $2,000 on Mrs. Manigbas.
ORDER
Pursuant to section 441.3 of the Act, an administrative penalty of $2,000 is imposed on Nimfa Lacorte Manigbas.
TAKE NOTICE THAT Nimfa Lacorte Manigbas 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. Nimfa Lacorte Manigbas must pay the administrative penalty no later than 30 days after the date of the invoice.
If Nimfa Lacorte Manigbas 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 on the day of , 2017.
_____________________________
Anatol Monid
Executive Director
Licensing and Market Conduct Division
By Delegated Authority from
The Superintendent of Financial Services