Insurance Companies Act

Marginal note:Examination of insurance holding companies

• 1000 (1) The Superintendent, from time to time, shall make or cause to be made any examination and inquiry into the business and affairs of any insurance holding company that the Superintendent considers to be necessary or expedient to determine whether the insurance holding company is complying with the provisions of this Act and to ascertain the financial condition of the insurance holding company or to determine whether the insurance holding company has adequate policies and procedures to protect itself against threats to its integrity or security.

• Marginal note:Access to records of insurance holding company

  (2) The Superintendent or a person acting under the Superintendent’s direction

  • (a) has a right of access to any records, cash, assets and security held by or on behalf of an insurance holding company; and

  • (b) may require the directors, officers or auditor of an insurance holding company to provide information and explanations, to the extent that they are reasonably able to do so, in respect of the condition and affairs of the insurance holding company or any entity in which it has a substantial investment.