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 Gary Caughlin
ADMINISTRATIVE MONETARY PENALTY ORDER
On April 7, 2014, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Administrative Monetary Penalty of $1500 on Gary Caughlin. The Superintendent alleged that Mr. Caughlin contravened or failed to comply with section 13 of Ontario Regulation 347/04, made under the Act, by failing to maintain errors and omissions insurance from January 1, 2013 to June 28, 2013.
Mr. Caughlin was informed of his right to request a hearing before the Financial Services Tribunal and that if no hearing is requested, the Act provides that the Superintendent may carry out his proposal to impose the penalty.
In correspondence dated May 7, 2014, Mr. Caughlin informed the Superintendent that he did not intend to request hearing and no hearing has been requested.
ORDER
An administrative monetary penalty in the amount of $1500 is imposed on Gary Caughlin pursuant to section 441.3 of the Act.
TAKE NOTICE THAT Mr. Caughlin will receive an invoice from Ontario Shared Services, a part of the Ministry of Government Services, with information as to where and how to make the payment. Mr. Caughlin must pay the administrative monetary penalty no later than 30 days after the date of the invoice.
If Mr. Caughlin 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 this 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, July 8, 2014.
Original signed by “Philip Howell”
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Philip Howell
Superintendent of Financial Services