Regulatory Alerts2025-10-23
Regulation Amending Information Disclosure Requirements for Segregated Fund Insurance Contracts
The Minister of Finance has issued a regulation amending annual disclosure requirements for insurers administering individual variable insurance contracts linked to segregated funds. The amendment permits insurers to omit pre-2026 Schedule 1 data when reasonably unavailable, accommodates multiple statements following account or ownership event changes, and allows cost-based system upgrade exemptions. Insurers must submit audited cost estimates and third-party attestations to the Authority, with all provisions taking effect on January 1, 2026.
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