An Advisory Board holds hearings to determine the granting or refusal of a new licence or the possible revocation or suspension of an existing licence for insurance agents and adjusters. The Superintendent of Financial Services will appoint an Advisory Board constituted under the Insurance Act, when an applicant or licensee responds to a Notice of Proposed Hearing with a written request for a hearing.
The Advisory Board consists of:
- the Chair (a representative of the Superintendent)
- a representative of insurers and
- a representative of agents or adjusters
The Rules of Practice and Procedure for Hearings Before An Advisory Board, and the Statutory Powers Procedure Act apply to a hearing before an Advisory Board.
The Advisory Board hears evidence and submissions on the law. The Advisory Board then prepares a written report including recommendations, on the application or licensing status of an agent or adjuster for the Superintendent. The Superintendent will consider the report and then makes a decision by issuing an order.