-BRI-TIS-H COLUMBIA IN THE MATTER OF THE FINANCIAL INSTITUTIONS ACT R.S.B.C. 1996, C. 141
and WESTERN LIFE ASSURANCE COMPANY, AND CASHCO FINANCIAL SECOND AMENDMENT ISSUED UNDER SECTIONS 244(2) Whereas Western Life Assurance Company consents to returning policyholders who purchased their group creditor insurance through Venue Financial Ltd., CashCo Financial Inc., and lenders doing business as Speedy Cash, while also committing honour those policies;
AND Staff consents to the change; I find it appropriate to rescind and replace Order No.2 in this matter originally issued September 13, 2017, and amended September 25,2017, with the following: 2. (a) Western Life Assurance Company will, on or before December 1, 2017, issue and send for delivery premium cheques to the current policyholders as of the date ofthis Order, including any policies that may have been issued subsequent to the date of the Order, but before Western Life could fully implement the cease and desist on or about September 15, 2017, of group creditor insurance purchased in conjunction with loans and distributed in British Columbia by Venue Financial Ltd., CashCo Financial Inc. and lenders doing business as Speedy Cash; and
(b) Western Life Assurance Company will honour and pay all legitimate and covered claims, if any, arising under any of the policies referred to in 2(a) above.
Dated at the City of Vancouver, British Columbia, this _j1:_ day of October, 2017.
Superintendent of 2800 - 555 West Hastings Financial Institutions Vancouver British Columbia, Telephone: Facsimile:
VENUE FINANCIAL LTD. INC. TO ORDER AND 238 premiums to current to
Financial Institutions, Britis Street www.fic.gov.bc.ca V6B 4N6 604 660-3555 604660-3365