A-32.1, r. 2 - Regulation respecting the supervisory information of authorized insurers

Updated to 12 December 2023

This document has official status.

chapter A-32.1, r. 2

Regulation respecting the supervisory information of authorized insurers

Insurers Act

(chapter A-32.1, ss. 178 and 179).

1. For the purposes of section 178 of the Insurers Act (chapter A-32.1) and in addition to the information protected under the professional secrecy of an advocate or notary, by litigation privilege or by a communication restriction provided for by the rules governing the law of evidence, in favour of an authorized insurer or a federation of mutual companies and communicated by one of them, as the case may be, to the Autorité des marchés financiers or the federation of mutual companies, such information and the following information, held by an authorized insurer in relation to the supervision of the authorized insurer by the Autorité des marchés financiers, is confidential information:

(1)  any risk profile assessment rating assigned to the authorized insurer, when the rating is established by the Autorité des marchés financiers or a federation of mutual companies or a third person based on information obtained from them;

(2)  any intervention stage rating assigned to the authorized insurer under a framework of the Autorité des marchés financiers for the supervision of financial institutions;

(3)  any instruction, order or recommendation, or any report produced by the Autorité des marchés financiers with regard to an authorized insurer or a federation of mutual companies, as well as the report referred to in section 442 of the Insurers Act produced by a federation of mutual companies;

(4)  any report, including a self-assessment, produced by the authorized insurer or a federation of mutual companies at the request of the Autorité des marchés financiers, as well as any report, including a self-assessment, produced at the request of a federation of mutual companies as part of its supervision of the insurance business of its members;

(5)  any correspondence exchanged between the Autorité des marchés financiers or a federation of mutual companies and the directors or officers of the authorized insurer or federation of mutual companies, as the case may be, with regard to the information referred to in this section.

M.O. 2020-13, s. 1.

2. For the purposes of paragraph 2 of section 179 of the Insurers Act (chapter A-32.1), the authorized insurer concerned by the information referred to in section 1 may use that information as evidence in any proceedings referred to in that paragraph, provided an order is made to prohibit or restrict its publication, disclosure or dissemination, or an order is made for a hearing in camera.

M.O. 2020-13, s. 2.

3. (Omitted).

M.O. 2020-13, s. 3.

REFERENCES

M.O. 2020-13, 2020 G.O. 2, 1670