National Bank Life Insurance Company agrees to pay $10,000

An administrative agreement was recently entered into between National Bank Life Insurance Company (NBLI) and the Autorité des marchés financiers (the "AMF") further to a notification issued by the AMF under An Act respecting insurance. The AMF considered the information provided in an application submitted by NBLI to be inaccurate.

NBLI asserted that this was an error made in good faith and that at no time did it intend to mislead the AMF. NBLI has agreed to pay the AMF an amount of $10,000 pursuant to this agreement.