Canada: Financial Sector Assessment Program-Insurance Core Principles-Detailed Assessment of Observance

March 7, 2014

Preview Citation

Format: Chicago

Canada: Financial Sector Assessment Program-Insurance Core Principles-Detailed Assessment of Observance, (USA: International Monetary Fund, 2014) accessed November 21, 2024

Summary

This Detailed Assessment report, a part of the 2013 Financial Sector Assessment Program (FSAP) of Canada, assesses Canada’s regulatory regime and supervisory practices against the international standards. The IMF report suggests that the Office of the Superintendent of Financial Institutions (OSFI) should be empowered to take supervisory measures at the level of the holding company. It highlights that while OSFI requires Federally Regulated Insurers (FRI) FRIs to develop internal capital targets, requirements to develop an Own Risk and Solvency Assessment are scheduled to be implemented in 2014.

Subject: Capital adequacy requirements, Corporate governance, Economic sectors, Financial institutions, Financial regulation and supervision, Insurance, Insurance companies, Legal support in revenue administration, Revenue administration

Keywords: Asia and Pacific, Automobile insurance, Capital adequacy requirements, Corporate governance, Corporate governance, CR, Europe, Global, Holding company, Insurance, Insurance companies, Insurance coverage, Insurance group, ISCR, Legal support in revenue administration, Life insurance, Line of business, Mortgage insurance, Risk management

Publication Details

Pages:

147
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/072
Stock No:

1CANEA2014010
ISBN:

9781475523652
ISSN:

1934-7685

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