Government of Canada / Gouvernement du Canada
Symbol of the Government of Canada

Search

Insurance Business (Trust and Loan Companies) Regulations (SOR/92-331)

Regulations are current to 2024-04-01 and last amended on 2012-03-01. Previous Versions

Prohibited Activities

  •  (1) No company shall

    • (a) provide, directly or indirectly, an insurance company, agent or broker with any information respecting

      • (i) a customer of the company in Canada,

      • (ii) an employee of a customer of the company in Canada,

      • (iii) where a customer of the company is an entity with members in Canada, any such member, or

      • (iv) where a customer of the company is a partnership with partners in Canada, any such partner;

    • (b) permit any of its subsidiaries to provide, directly or indirectly, an insurance company, agent or broker with any information that it receives from the company respecting

      • (i) a customer of the company in Canada,

      • (ii) an employee of a customer of the company in Canada,

      • (iii) where a customer of the company is an entity with members in Canada, any such member, or

      • (iv) where a customer of the company is a partnership with partners in Canada, any such partner;

    • (b.1) provide an affiliate of the company that is not a subsidiary of the company with information unless the company ensures that the affiliate does not directly or indirectly provide the information to an insurance company, agent or broker if the information is in respect of

      • (i) a customer of the company in Canada,

      • (ii) an employee of a customer of the company in Canada,

      • (iii) where a customer of the company is an entity with members in Canada, any such member,

      • (iv) where a customer of the company is a partnership with partners in Canada, any such partner; or

    • (c) permit a subsidiary of the company that is a provincial trust or loan company to provide, directly or indirectly, an insurance company, agent or broker with any information respecting

      • (i) a customer of the subsidiary in Canada,

      • (ii) an employee of a customer of the subsidiary in Canada,

      • (iii) where a customer of the subsidiary is an entity with members in Canada, any such member, or

      • (iv) where a customer of the subsidiary is a partnership with partners in Canada, any such partner.

  • (2) Subsection (1) does not apply in respect of a company or a subsidiary of a company that is a provincial trust or loan company where

    • (a) the company or the subsidiary has established procedures to ensure that the information referred to in that subsection will not be used by an insurance company, agent or broker to promote in Canada the insurance company, agent or broker or to promote in Canada an insurance policy, or a service in respect thereof; and

    • (b) the insurance company, agent or broker, as the case may be, has given an undertaking to the company or to the subsidiary, in a form acceptable to the Superintendent, that that information will not be used to promote in Canada the insurance company, agent or broker or to promote in Canada an insurance policy, or a service in respect thereof.

  • SOR/2002-270, s. 5

 No company shall provide a telecommunications device that is primarily for the use of customers in Canada and that links a customer with an insurance company, agent or broker.

 A company shall not carry on business in Canada on premises that are adjacent to the premises of an insurance company, agent or broker unless the company clearly indicates to its customers that its business and the premises on which its business is carried on are separate and distinct from those of the insurance company, agent or broker.

  • SOR/2011-186, s. 7

Transitional

 Where a company administered a policy on May 6, 1992 the administration of which is not permitted under section 4, the company may continue to administer the policy in respect of any person in respect of whom coverage was provided under the policy on that date.

 

Date modified: