Canadian Life and Health Insurance Association Inc. / Association canadienne des compagnies d'assurances de personnes inc.
Registration:
26
of
68
(2015-09-14
to
2015-10-01)
Legislative Proposal, Bill or Resolution
- Income Tax Act amendment S.149.01 (Bill C-377) as it relates to the definition of labour trust.
- Income Tax Act, s.6: Recommendations re income inclusions i.e., employer-funded A&S insurance benefits.
- Personal Information Protection and Electronic Documents Act: seeking workable approaches to privacy rules affecting life and health insurers when the Act is updated.
- Statutory review of the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act as it relates to insurance products and consumer and creditor protection.
- Winding Up and Restructing Act (WURA) with respect to subsection 73(1) re set-off.
Policies or Program
- 2013-14 Debt Management Strategy Consultation as it relates to long bonds.
- Canada’s Financial Consumer Protection Framework as it relates to insurance policies.
- Employment Insurance (EI) reform as it relates to disability benefits.
- Financial Literacy as it relates to insurance and seniors.
- Financing infrastructure projects, as it relates to private-public partnerships (P3s)
- Genetic testing as it relates to insurance underwriting.
- Health Care reform as it relates to a patient-focussed approach, affordable prescription drugs, wellness and disease prevention and long term care needs of Canadians.
- Income Tax Act, Part VI as it relates to capital tax on financial institutions.
- International Trade with respect to opening trade relations, regulations, foreign ownership and national treatment in foreign markets, with regards to India, Europe, China, Japan, Trans-Pacific partnership (TPP), Plurilateral Trade In Services Agreement (TISA) and the World Trade Organization (WTO).
- Issues relating to the U.S. Foreign Account Tax Compliance Act (FATCA) as they relate to tax, privacy, and enhanced international reporting requirements.
- National Pharmaceutical Strategy with respect to catastrophic drug coverage, the establishment of a national drug formulary, access to breakthrough drugs, e-prescribing and electronic health records.
- OSFI Advisory on Innovative Tier 1 instruments as it relates to life and health insurance companies
Regulation
- Amendments to Proceeds of Crime (Money Laundering) and Terrorist Financing rules as they affect insurance companies
- Clarification of Goods and Services Tax (GST)/Harmonized Sales Tax (HST) treatment of financial services.
- FINTRAC risk-based guidance as it relates to life insurance
- Income Tax Act, Section 146: Retirement income recommendations regarding the treatment of life insurance companies.
- Income Tax Regulations (section 251.2) as it relates to scope of loss restriction rules.
- Income Tax Regulations (section 6(1)(f) as it relates to income tax withholding on wage loss replacement plans (disability income benefits).
- Income Tax Regulations, Part III: Updating income tax rules for life insurance policies.
- Income Tax Regulations, Part XIV with respect to changes proposed by the Department of Finance to these regulations.
- International Financial Reporting Standards (IFRS) - with respect to changes that life and health insurers will have to make to their accounting rules and potential tax implications.
- OSFI Draft disclosure guideline for defined contribution pension plans with respect to all aspects of the guideline and in particular, communication and disclosure processes.
- OSFI E-21 Operational Risk Management Guideline
- OSFI Guideline B-8, detecting and deterring money laundering
- OSFI Minimum Continuing Capital and Surplus Requirements (MCCSR) as it relates to life and health insurance companies.
- OSFI draft Guideline B-7 as it relates to the management of derivatives sound practices.
- Promotion of risk-based and principles-based regulation for financial institutions regulations.
- Regulations made to Pooled Registered Pension Plans