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Volume 54, No. 23

206/2011

The British Columbia Gazette,

Part II

December 13, 2011

B.C. Reg. 206/2011 , deposited December 2, 2011, pursuant to the FINANCIAL INSTITUTIONS ACT [sections 80.3 and 289]. Order in Council 585/2011, approved and ordered December 1, 2011.

On the recommendation of the undersigned, the Administrator, by and with the advice and consent of the Executive Council, orders that, effective July 1, 2012, the attached Insurer Complaints Regulation is made.

— K. FALCON, Minister of Finance and Deputy Premier ; I. CHONG, Presiding Member of the Executive Council .

INSURER COMPLAINTS REGULATION

Definitions

1 In this regulation:

"Act" means the Financial Institutions Act ;

"OmbudService for Life & Health Insurance" means the Canadian Life and Health Insurance OmbudService carrying on business as the OmbudService for Life & Health Insurance;

"primary jurisdiction" has the same meaning as in

section 157 of the Act.

Membership in dispute resolution service

(1) A person that holds a business authorization, or that is deemed under

section 191 of the Act to have a business authorization, authorizing the person to carry on an insurance business must be a member of the OmbudService for Life & Health Insurance or the General Insurance OmbudService.

(2) Subsection (1) does not apply if

(

a) the person's business is restricted to reinsurance,

(

b) the person is a mutual company, or

(

c) the person is a member of an organization with purposes similar to the purposes of the organizations referred to in subsection (1), in fulfillment of a requirement under a law of the insurer's primary jurisdiction.

Exemption from

section 80.3 of the Act

Section 80.3 of the Act does not apply to an insurer whose business is restricted to reinsurance.

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