Insurance Companies Act

Marginal note:Reliance on statement

845 A director, an officer or an employee of an insurance holding company is not liable under subsection 795(1) or (2) or section 841 or 844 if the director, officer or employee relies in good faith on

• (a) financial statements of the insurance holding company represented to the director, officer or employee by an officer of the insurance holding company or in a written report of the auditor of the insurance holding company fairly to reflect the financial condition of the insurance holding company; or

• (b) a report of an accountant, actuary, lawyer, notary or other professional person whose profession lends credibility to a statement made by the professional person.