Consolidated Statutes and Regulations
Consolidated Statutes
Consolidated Regulations
Annual Statutes and Regulations
Annual Statutes
Annual Regulations
Additional information
Québec Official Publisher
What’s new?
Information note
Policy of the Minister of Justice
Laws: Amendments
Laws: Provisions not in force
Laws: Provisions brought into force
Annual Statutes: PDF versions since 1996
Regulations: Amendments
Annual Regulations: PDF versions since 1996
Court Decisions
A-32.1, r. 1 - Regulation under the Act respecting insurance
Section 6
Disposition versions
6. An application for the constitution of a mutual insurance association must be accompanied by the following documents, in addition to the articles of the association and the documents required by section 93.18 of the Act respecting insurance (chapter A-32):
(1) the résumés of the persons proposed as directors;
(2) the proposed internal by-laws;
(3) a description of the composition and mode of operation of the committee on ethics, the audit committee and, if applicable, the executive committee, the investment committee and any other proposed committee, as well as the names of the persons proposed as members of those committees;
(4) the proposed rules of ethics applicable to directors;
(5) a description of the products that will be offered;
(6) copies of the proposed insurance policies and riders;
(7) the proposed product marketing and distribution policy and claim settlement policy;
(8) the proposed investment policy;
(9) copies of the proposed reinsurance contracts;
(10) the authorization of the federation to carry on the proposed activities;
(11) a description of the organizational structure; and
(12) a minimum 3-year business plan that contains opening financial statements and financial forecasts.
The business plan must be supported by a minimum 3-year actuarial projection pertaining to the balance sheet, income statement and statement of retained earnings, and capital adequacy.
The actuarial projection must contain a description of the calculation assumptions used, and be drawn up by an actuary who is a Fellow of the Canadian Institute of Actuaries practising in damage insurance.
6. An application for the constitution of a mutual insurance association must be accompanied by the following documents, in addition to the articles of the association and the documents required by section 93.18 of the Act respecting insurance (chapter A-32):
(1) the résumés of the persons proposed as directors;
(2) the proposed internal by-laws;
(3) a description of the composition and mode of operation of the committee on ethics, the audit committee and, if applicable, the executive committee, the investment committee and any other proposed committee, as well as the names of the persons proposed as members of those committees;
(4) the proposed rules of ethics applicable to directors;
(5) a description of the products that will be offered;
(6) copies of the proposed insurance policies and riders;
(7) the proposed product marketing and distribution policy and claim settlement policy;
(8) the proposed investment policy;
(9) copies of the proposed reinsurance contracts;
(10) the authorization of the federation to carry on the proposed activities;
(11) a description of the organizational structure; and
(12) a minimum 3-year business plan that contains opening financial statements and financial forecasts.
The business plan must be supported by a minimum 3-year actuarial projection pertaining to the balance sheet, income statement and statement of retained earnings, and capital adequacy.
The actuarial projection must contain a description of the calculation assumptions used, and be drawn up by an actuary who is a Fellow of the Canadian Institute of Actuaries practising in damage insurance.
