Implementation of the Amendments to Part XIII of the Insurance Companies Act

Recent Initiative by some Provincial Regulators - Consent and Undertaking to facilitate the conduct of insurance business across Canada by foreign insurers

The following documents are intended to assist federally regulated life insurance companies, including fraternal benefit societies, and property and casualty insurance companies understand and implement the requirements resulting from amendments to Part XIII of the Insurance Companies Act, which are in force as of January 1, 2010.

Document
Final 2009 Update on Part XIII Implementation - ARCHIVED (PDF, 63 kB)
Notice to Consumers Regarding Foreign Insurers - ARCHIVED (PDF, 38 kB)
Implementation Instructions - Amendments to Part XIII of the Insurance Companies Act - ARCHIVED (PDF, 86 kB)
Questions and Answers on the Implementation of Part XIII of the Insurance Companies Act - ARCHIVED (PDF, 101 kB)
Notice regarding Marine Insurance - ARCHIVED (PDF, 43 kB)
OSFI's Letter dated June 19, 2009 - The 25 Percent Limit on Non-approved Reinsurance - ARCHIVED (PDF, 48 kB)
OSFI's Letter Dated August 11, 2009 - Quarterly Progress Reports - ARCHIVED (PDF, 42 kB)
OSFI's Letter Dated May 13, 2009 - Quarterly Progress Reports - ARCHIVED (PDF, 42 kB)
Note to Cedants Dated December 19, 2008 - Capital / Assets Credit for Reinsurance - ARCHIVED (PDF, 59 kB)
OSFI's Letter Dated December 19, 2008 - Addition & Removal of liabilities / Progress Reports / Marine Insurance - ARCHIVED (PDF, 61 kB)
OSFI's Letter Dated December 3, 2008 - Eligibility for Captial / Assets Credit - ARCHIVED (PDF, 142 kB)
OSFI's Letter Dated February 13, 2008 - Postponement of Implementation of Part XIII to January 1, 2010 - ARCHIVED (PDF, 34 kB)
OSFI's letter dated August 15, 2007 - Presumption, Due Diligence and Vested Assets - ARCHIVED (PDF, 49 kB)
OSFI's Letter Dated May 14, 2007 - Consultations re Implementation of Part XIII - ARCHIVED (PDF, 161 kB)
Advisory 2007-01-R1 – Insurance in Canada of Risks and accompanying letter dated May 2009

Quarterly Progress Reports - please file at: PartXIII@osfi-bsif.gc.ca