5/6/2023 0 Comments Home protector insurance belieThe Supervisor further contended that the Claimant was given ample opportunity to be heard with respect to any objections it had in relation to the calculation of the increased amount of the Fund. In defence to the claim, the Supervisor of Insurance contended that the statutory fund was calculated in accordance with the mathematical formula prescribed in the Insurance Act and as such the increase was neither arbitrary nor unreasonable. Accordingly, the Claimant by way of judicial review, seeks a number of declarations ultimately leading to an order of certiorari to quash the increase in its statutory fund and initially, to address the renewal of its licence. The Claimant also alleges therefore that the Supervisor's non-renewal of its licence was an abuse of power, arbitrary and unreasonable, as well as in breach of its legitimate expectation to be consulted or heard prior to such refusal to renew. The Claimant resisted payment of the increased amount of the fund as a result of which the Supervisor declined to renew its licence to operate for the year 2018. The Claimant also asserts a legitimate expectation that the amount of the statutory fund would remain calculable according to a set formula, which is claimed to have been used for all years prior to the increase. The claim alleges that the Supervisor's increase of the statutory fund was arbitrary, unreasonable and was put into effect without giving the Claimant an opportunity to be heard, thereby in breach of natural justice. (the Claimant, or ‘the Insurance Company’) for judicial review of a decision by the Supervisor of Insurance (‘the Supervisor’) which increased a yearly fee payable by the Insurance Company as part of its compliance under the Insurance Act, called the statutory fund (‘the fund’). This is a claim filed by Home Protector Insurance Company Ltd.
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