Insurance Companies Act
Version of section 687 from 2007-04-20 to 2024-06-11:
Marginal note:Assessment
687 As soon as possible after ascertaining the portions described in paragraph 686(1)(b), the Superintendent shall, subject to this section and to the extent and in the manner that the Governor in Council may prescribe, assess those portions against each company, society, foreign company and provincial company, other than the company, society, foreign company or provincial company in respect of which the expenses were incurred, in the following proportion:
A/B
where
- A
- represents the net premiums during the immediately preceding calendar year of the company, society, foreign company or provincial company from
(i) policies of accident and sickness insurance,
(ii) policies of life insurance and annuities, or
(iii) other policies; and
- B
- represents the total net premiums during the immediately preceding calendar year of all companies, societies, foreign companies and provincial companies, other than the company, society, foreign company or provincial company in respect of which the expenses were incurred, from
(i) policies of accident and sickness insurance,
(ii) policies of life insurance and annuities, or
(iii) other policies.
- 1991, c. 47, s. 687
- 2007, c. 6, s. 308
- Date modified: