Canada Year End Regulatory Reporting for Automobile Business

This document is a Canadian bulletin that outlines the regulatory reporting requirements for the automobile business in Canada. It serves as a reminder to stakeholders, including coverholders, brokers, managing agents, compliance officers, and third-party administrators, about their obligations to report data accurately and timely. The deadline for reporting 2023 automobile business, including premiums, paid claims, and outstanding claims reserves, is set for January 3, 2024. The bulletin emphasizes the importance of compliance with various provincial regulations and the potential consequences of failing to meet these requirements, which may include disciplinary actions. It specifies that all automobile business must be processed through Lineage Accounting and Settlement to satisfy regulatory obligations and includes a reference to the Risk Code Table in Appendix A. The document also encourages stakeholders to reach out for assistance regarding the reporting process and training sessions if needed.