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  • BR-1.5 BR-1.5 Other Reporting Requirements

    • IIS Reporting Requirements

      • BR-1.5.1

        Insurance licensees, registered actuaries and loss adjusters are required to complete online non-financial information related to their institution by accessing the CBB's institutional information system (IIS). Insurance licensees registered actuaries and loss adjusters must update the required information at least on a quarterly basis or when a significant change occurs in the non-financial information included in the IIS. If no information has changed during the quarter, the insurance licensees, registered actuaries and loss adjusters must still access the IIS quarterly and confirm that the information contained in the IIS is correct. Licensees must ensure that they access the IIS within 20 calendar days from the end of the related quarter and either confirm or update the information contained in the IIS.

        Amended: January 2013
        Amended: April 2012
        Added: January 2011

      • BR-1.5.2

        Insurance licensees, registered actuaries and loss adjusters failing to comply with the requirements of Paragraph BR-1.5.1 or reporting inaccurate information may be subject to financial penalties or other enforcement actions as outlined in Module (EN) Enforcement.

        Amended: April 2012
        Amended: April 2011
        Added: January 2011

    • Complaint Handling Procedures Report

      • BR-1.5.3

        Insurance licensees must submit quarterly to the CBB's Compliance Directorate a report summarising the outcome of their complaint handling procedures in accordance with the requirements of Paragraph BC-4.7.1.

        Added: October 2011

    • Compliance with Module CL (Client Assets)

      • BR-1.5.4

        Every insurance broker must submit to the CBB within three months from the financial year-end, a report as to the quality of the insurance broker's procedures dealing with the insurance broker's fiduciary assets/liabilities and compliance with Module CL (Client Assets).

        Added: April 2012

      • BR-1.5.5

        The report required under Paragraph BR-1.5.4 must be prepared by the licensee's external auditor, in accordance with the International Standard on Related Services applicable to agreed-upon procedures engagements.

        Added: April 2012

      • BR-1.5.6

        The format of the Auditor's Report required under Paragraph BR-1.5.4 is included in Part B of the Rulebook as Appendix BR-(iv), as part of the Supplementary Information.

        Added: April 2012