Auto Chapter 9

Question 1

FSCO regulates what

Answer 1

Insurance, pension plans, loan and trust companies, credit unions and causes popularizes, mortgage brokers, co-operatives

Question 2

The director of arbitrations is responsible for

Answer 2

automobile insurance dispute resolution system

Question 3

The financial services tribunal is responsible for

Answer 3

hearing appeals of regulatory decisions and reviews proposed orders of the superintendent.

Question 4

The superintendent of financial services is responsible for

Answer 4

administering and enforcing the Act.

Question 5

What procedure must be followed by an insurer when it does not wish to renew an Auto policy

Answer 5

1. Give insured at least 30 days notice in writing of intention. 2. Give broker 45 day notice. 3. notice sets out reasons. 4. contract of insurance is in force until there is compliance with the subsections.

Question 6

Insurance Act

Answer 6

legislations that includes provisions to protect consumers.

Question 7

The 3 elements of financial services commission

Answer 7

commission/board, financial services tribunal, and superintendent of financial services.

Question 8

Who are the five members of the commission board of the FSCO

Answer 8

Chair, 2 VP chairs, director of arbitrations, and the superintendent of financial services.