CRSTL helps insurance companies (and reinsurers) comply with the laws, regulations and guidelines that govern their businesses in Canada. Our solutions include the requirements under the Insurance Companies Act and corresponding regulations, the guidelines, advisories and bulletins issued by the Office of the Superintendent of Financial Institutions ("OSFI"), and provincial and territorial legislation governing market conduct for insurance companies.
Our databases for all insurers include:
All insurance companies are governed by federal solvency, prudential and accounting standards, and by provincial market conduct requirements. Property and casualty insurers, however, have additional requirements in respect of specific insurance lines, such as fire, auto, and marine insurance.
In addition to the legislation and guidance included for all insurance companies, our databases for property and casualty insurance companies include:
All insurance companies are governed by federal solvency, prudential and accounting standards, and by provincial market conduct requirements. Life insurers, however, have additional requirements in respect of specific product lines, including the issuance and maintenance of segregated funds, participating policies, and adjustable policies, and governance requirements in respect of participating policyholders.
In addition to the legislation and guidance included for all insurance companies, our databases for life insurance companies include:
Reinsurance companies may reinsure, but not otherwise insure, a risk falling within a class of insurance for which they have been authorized to carry on business. While reinsurance companies are governed by the same legislative and regulatory framework as insurers, companies that do not deal with individuals or small businesses are relieved of the consumer protection provisions of the Insurance Companies Act subject to regulatory oversight by the Financial Consumer Agency of Canada ("FCAC"), including those relating to complaints procedures and public accountability statements.
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