Regulatory Alerts2015-01-20
Notice on Filing Annual Returns and Documents for Quebec P&C Insurers – Fiscal Year Ending December 31, 2014
The Autorité des marchés financiers requires Quebec-licensed property and casualty insurers and reinsurers to electronically file updated annual returns, financial statements, actuarial reports, and compliance attestations via the File Transfer Service for the fiscal year ending December 31, 2014. Key procedural changes include a revised Affidavit requiring dual director certification and updated filing formats, with deadlines extending from late February to May 2015 depending on the document type. Failure to submit these documents within the prescribed periods may result in administrative monetary sanctions under section 405.1 of Quebec’s Act respecting insurance.
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