Canadian Life and Health Insurance Association Inc. / Association canadienne des compagnies d'assurances de personnes inc.
Registration:
16
of
67
(2012-12-22
to
2013-05-07)
Legislative Proposal, Bill or Resolution
- Income Tax Act, Part VI as it relates to capital tax on financial institutions.
- 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.
- Review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act as it relates to insurance contracts.
- Winding Up and Restructing Act (WURA) with respect to subsection 73(1) re set-off.
Policies or Program
- Employment Insurance (EI) reform as it relates to disability benefits.
- 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.
- 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) and the World Trade Organization (WTO).
- Long-Term Disability Plans and the requirement to insure all plans.
- 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
- Clarification of Goods and Services Tax (GST)/Harmonized Sales Tax (HST) treatment of financial services.
- Income Tax Act, Section 146: Retirement income recommendations regarding the treatment of life insurance companies.
- 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.
- 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 Minimum Continuing Capital and Surplus Requirements (MCCSR) as it relates to life and health insurance companies.
- Promotion of risk-based and principles-based regulation for financial institutions regulations.
- Regulations made under Bill C-25, Pooled Registered Pension Plans Act as it relates to increasing pension savings opportunities for Canadians.
- Regulations under Anti-spam legislation, with respect to definitions of family and personal relationship, the use of the unsubscribed mechanism, and the consent provision.
- Tax and Privacy issues relating to the U.S. Foreign Account Tax Compliance Act (FATCA)