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Superintendent of Financial Services |
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surintendant des services financiers |
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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 Peel Mutual Insurance Company
ADMINISTRATIVE PENALTY ORDER
Peel Mutual Insurance Company (“Peel Mutual”) is licenced as an Insurer under the Insurance Act (the “Act”), with the licence number 649.
On April 24, 2017, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Administrative Penalty (the “Notice”) in the amount of $8,500 on Peel Mutual.
On May 16, 2017, Peel Mutual filed a request for a hearing before the Financial Services Tribunal (the “Tribunal”).
Peel Mutual and the Superintendent now wish to resolve this matter without a hearing and on consent.
ORDER
Pursuant to section 441.3 of the Act, an administrative penalty of $2,500 is imposed on Peel Mutual Insurance Company.
TAKE NOTICE THAT Peel Mutual 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. Peel Mutual must pay the administrative penalty no later than 30 days after the date of the invoice.
If Peel Mutual 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 , 2018.
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Anatol Monid
Executive Director
Licensing and Market Conduct Division
By Delegated Authority from The Superintendent of Financial Services