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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 (the “Act”), in particular sections 441.1, 441.2 and 441.3
AND REGARDING Town & Country Mutual Insurance Company
ORDER TO IMPOSE AN ADMINISTRATIVE
MONETARY PENALTY
On June 27, 2018, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to impose an Administrative Monetary Penalty in the amount of $25,000 on Town & Country Mutual Insurance Company (“Town & Country”) for contravening subsection 403(1) of the Act.
Town & Country requested a hearing by the Financial Services Tribunal (the “Tribunal”).
The Superintendent and Town & Country entered into Minutes of Settlement in which Town & Country agreed to pay an administrative monetary penalty of $25,000.
Town & Country withdrew its hearing request on December 7, 2018. The Tribunal closed its file on December 7, 2018.
ORDER
An Administrative Monetary Penalty of $25,000 is imposed on Town & Country Mutual Insurance Company.
TAKE NOTICE THAT Town & Country must pay the administrative penalty no later than 30 days after being given notice of this Order. You 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.
If you fail 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, , 2018.
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Anatol Monid
Executive Director, Licensing & Market Conduct
By delegated authority from the
Superintendent of Financial Services