Insurers and reinsurers face an ever increasing array of legal and regulatory requirements. Our Financial Institutions Group has extensive experience advising on these requirements. We are a leading advisor to financial institutions and other regulated and unregulated financial services providers in Canada.
We have extensive experience dealing with regulators at the federal level including the Office of the Superintendent of Financial Institutions (OSFI) and the Financial Consumer Agency of Canada (FCAC), and at the provincial level (including the Financial Services Commission of Ontario (FSCO), the Autorité des marchés financiers (AMF) and BC's Financial Institutions Commission (FICOM). Our experience with both federal and provincial regulators translates into results for clients on various regulatory matters.
We regularly engage with regulators to obtain regulatory approvals for clients and to find ways to develop, implement and distribute novel products and services, including alternative risk solutions. We also advise on precedent-setting rulings from regulators.
We assist Canadian and foreign insurers and reinsurers in understanding the impact of legislative and regulatory developments and analyzing the application of legal and regulatory requirements to transactions, products and business lines that impact all insurance entities. We also advise insurance agents and brokers.
- Formation of new Canadian insurance companies and branches of foreign insurers
- Approvals and other regulatory issues in connection with transactions and reorganizations
- Corporate governance
- Risk management
- Capital adequacy requirements
- Business and powers
- Insurance linked securities
- Market conduct
- Regulatory compliance
- Related party transactions
- Permitted investments
- Reinsurance Security Agreements and other methods (funds withheld, LOCs) of obtaining credit for unregistered reinsurance
- Distribution of insurance products and services
- Federal and provincial licensing requirements
- Insuring Canadian risks from outside Canada