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.
OSFI's Letter dated December 15, 2009 - Final 2009 Update on Part XIII Implementation
Notice to Consumers Regarding Foreign Insurers
Implementation Instructions - Amendments to Part XIII of the Insurance Companies Act
Questions and Answers on the Implementation of Part XIII of the Insurance Companies Act - Updated December 15, 2009
Notice regarding Marine Insurance - Updated July 24, 2009
OSFI's Letter dated June 19, 2009 - The 25 Percent Limit on Non-approved Reinsurance - Updated December 15, 2009
OSFI's Letter Dated August 11, 2009 - Quarterly Progress Reports
OSFI's Letter Dated May 13, 2009 - Quarterly Progress Reports
Note to Cedants Dated December 19, 2008 - Capital / Assets Credit for Reinsurance
OSFI's Letter Dated December 19, 2008 - Addition & Removal of liabilities / Progress Reports / Marine Insurance
OSFI's Letter Dated December 3, 2008 - Eligibility for Captial / Assets Credit
OSFI's Letter Dated February 13, 2008 - Postponement of Implementation of Part XIII to January 1, 2010
OSFI's letter dated August 15, 2007 - Presumption, Due Diligence and Vested Assets - Updated December 15, 2009
OSFI's Letter Dated May 14, 2007 - Consultations re Implementation of Part XIII
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
