Financial Information

Transcription

1 Financial Information P&C Quarterly Return (P&C-Q4) P&C Annual Supplement (P&C-AS) Unallocated Loss Adjustment Expense (FI-ULAE) Main Collection (FI-Main) Annual Balance Reconciliation (ABR) Reporting and Submission Requirements General Insurance Statistical Agency/Agence statistique d'assurance générale 17th Floor; 5160 Yonge Street Toronto, Ontario M2N 6L9 General Insurance Statistical Agency / Agence statistique d assurance générale 2017

2 This material is intended to provide orientation and guidance to insurers submitting financial information to General Insurance Statistical Agency. All rights reserved. No part of this material may be reproduced in any material form or transmitted without the prior written permission of General Insurance Statistical Agency. General Insurance Statistical Agency / Agence statistique d assurance générale 2017

3 TABLE OF CONTENTS 1. OVERVIEW INTRODUCTION REPORTING OF DATA DATA REFERENCE FI-ULAE FI-MAIN FI-ABR FI COORDINATOR AND FI AUTHORIZING CONTACT FI COORDINATOR FI AUTHORIZING CONTACT (CERTIFICATE OF THE OFFICER/DESIGNATE) ADDITIONAL CONTACTS DEFICIENCY FEE SYSTEM (DFS) Reported Company Group Late Submission Fees ESCALATION AND DISPUTES CONTACT FOR SUPPORT DISCLAIMERS SUBMISSION REQUIREMENTS FILE FORMATS P&C-Q4 and P&C-AS FI-ULAE FI-Main (Including ABR) SUBMISSION FILES Successfully Generated Files Incomplete/ Incorrect Submission BACKUP SUBMISSIONS REJECTED SUBMISSIONS DATA SUBMISSION VIA THE SECURE GISA PORTAL Accessing the System Submit FI Data P&C-Q4 and P&C-AS FI-ULAE (Automobile Only) FI-Main (Including ABR) View Submission P&C-Q4 AND P&C-AS FI-ULAE (AUTOMOBILE ONLY) TAB 1 Cover Reporting Company FI Coordinator FI Authorizing Contact - Certificate of the Officer/Designate Electronic/Printable Certification Distribution Channel Ownership Incorporation Jurisdiction Auto Business Written Reporting Period Allocation Method... 34

4 Additional Notes/Comments TAB 2 ULAE Definitions of Required Data Elements Provincial Health Levy Unallocated Loss Adjustment Expenses (ULAE) Direct Claims Incurred Reporting Data Elements FI-MAIN TAB 1 Cover Reporting Company FI Coordinator FI Authorizing Contact - Certificate of the Officer/Designate Electronic/Printable Certification Distribution Channel Ownership Incorporation Jurisdiction Business Written Auto Business Written Reporting Period Allocation Method Additional Notes/Comments TABs 2 to 4 Private Passenger (excluding FARM) PPA-TPL, PPA-PA, PPA-OTH Definitions of Required Data Elements Premiums Written Premiums Earned Direct Claims and Adjustment Expenses Commission excluding Contingent Commission Reporting Data Elements TABs 5 to 7 FARM-TPL, FARM-PA and FARM-OTH TAB 8 PPA-Run-Off Definitions of Required Data Elements Paid UCAE IBNR Ratio Reporting Data Elements TAB 9 Additional (Information) Definitions of Required Data Elements Section 1 - PPA (excluding FARM) Section 2 - Other than PPA (excluding FARM) Section 3 - Automobile Total (including FARM) Reporting Data Elements TAB 10 Summary Summary of Tabs 2 to ANNUAL BALACE RECONCILATION (ABR) Tab 11 ABR-ASP (Automobile Statistical Plan) Definitions of Required Data Elements Premiums Direct Paid Claims Provision for Direct Unpaid Claims Additional Adjustment Explanation Reporting Data Elements Tab-12 ABR-CLSP (Commercial Liability Statistical Plan) Definitions of Required Data Elements Premiums Direct Paid Claims Provision for Direct Unpaid Claims Additional Adjustment Explanation... 79

5 Reporting Data Elements FREQUENTLY ASKED QUESTIONS P&C RETURNS FI-ULAE FI-MAIN ADDITIONAL QUESTIONS... 84

6 2016 Financial Information OVERVIEW 1. OVERVIEW 1.1. INTRODUCTION In September 2011, the Superintendents of Insurance approved the collection of financial information from automobile insurance companies. In March 2012, the Board of General Insurance Statistical Agency (GISA) approved the process and timelines for the collection of companies financial information. This data will enable regulators to better understand and monitor the automobile insurance industry s financial performance. GISA collects and publishes automobile insurance premiums and claims statistical data based on the Automobile Statistical Plan (ASP). The automobile insurance financial information will be added to this data matrix to provide a more complete and transparent overview of the automobile insurance industry. In 2017, GISA consolidated the collection of the Annual Balance Reconciliation (ABR) with the Financial Information (FI) Collection. This change will benefit both automobile and Ontario commercial liability writers as consolidation of the filings will improve efficiency of the collection. GISA s service provider, Insurance Bureau of Canada (IBC), has been retained to collect this data. This document defines the detailed reporting and submission requirements for the collection of Financial Information P&C Quarterly Return (P&C-Q4), P&C Annual Supplement (P&C-AS), Unallocated Loss Adjustment Expense (FI-ULAE), Main collection (FI-Main) and Annual Balance Reconciliation (ABR) REPORTING OF DATA All insurance companies currently reporting statistical data to GISA will be mandated to submit the following: FINANCIAL INFORMATION COLLECTION SUBMISSIONS PLANS AUTOMOBILE COMMERCIAL LIABILITY P&C-Q4 Mandated Mandated P&C-AS Mandated Mandated FI-ULAE Mandated N/A FI-Main FI Tabs Mandated N/A ABR Tabs Mandated Mandated Page 5

7 2016 Financial Information OVERVIEW Reinsurance companies that do not currently report data to GISA ASP and Facility Association Residual Market (FARM) are exempt from this reporting. Companies which act as servicing carriers for FARM are required to report their own business only and not the business written on behalf of FARM. The FI collection must be submitted on or before the following due dates: DUE DATES 2016 FI COLLECTION PROVINCIALLY REGULATED ONLY NEW ALL PROVINCES BRUNSWICK OR NOVA YUKON SCOTIA P&C- Q4 March 1, 2017 April 1, 2017 March 16, 2017 P&C-AS March 1, 2017 April 1, 2017 March 16, 2017 FI-ULAE March 6, 2017 April 1, 2017 March 16, 2017 FI-Main (including ABR) April 3, 2017 April 3, 2017 April 3, 2017 All insurers must submit their filings by the due dates indicated in the All Provinces column, with the exception of insurers who write business ONLY in New Brunswick, Nova Scotia or Yukon. For those insurers who are provincially regulated in ONLY one of the three provinces, please refer to the Provincially Regulated Only columns DATA REFERENCE Some of the required automobile data elements can be directly transferred from the relevant pages of the P&C-Q4 and P&C-AS, while others have to be collected separately or allocated from company level data. For this reason, the P&C Returns filed by the reporting companies with their primary regulator are used as the primary references to derive and balance the required automobile insurance financial data FI-ULAE Companies reporting both consolidated and non-consolidated P&C-Q4 and P&C-AS should use the consolidated numbers as the reference for this reporting. For example, Claims Incurred Consolidated Page Number = P&C-Q4 & P&C-AS PAGE DESCRIPTION PAGE NUMBER Direct Claims Incurred ULAE & Page 6

8 2016 Financial Information OVERVIEW FI-MAIN Companies reporting both consolidated and non-consolidated figures in the P&C-Q4 and P&C- AS financial statements must use the non-consolidated numbers as the reference for this reporting. P&C-Q4 & P&C-AS PAGE DESCRIPTION CONSOLIDATED PAGE NUMBER Liabilities and Equity Statements of Income Premiums and Claims Claims and Adjustments Expenses Run-Off Premiums Written Premiums Earned Claims Incurred Commissions Formula 2 Operating Expenses Formula 2 Adjustment Expenses Formula 2 NON- CONSOLIDATED PAGE NUMBER The following data elements are not available in the P&C-AS on a non-consolidated basis: P&C-AS PAGE DESCRIPTION PAGE NUMBER Commissions Operating Expenses Adjustment Expenses Reporting companies should use the following formula to derive the required non-consolidated numbers: Non-consolidated number for the parent company NON-CONSOLIDATED NUMBER FOR THE PARENT COMPANY Consolidated equals number for the minus group Non-consolidated numbers from all children companies in the group 1 Please refer to the P&C-AS for this page reference 2 Formula can be found on the next page Page 7

9 2016 Financial Information OVERVIEW FI-ABR Companies reporting the ABR should use the below references from the P&C-Q4 to complete Tab-11 and Tab-12 of the FI-Main template: P&C-Q4 PAGE DESCRIPTION CONSOLIDATED PAGE NUMBER Premiums Written Claims Incurred NON- CONSOLIDATED PAGE NUMBER 1.4. FI COORDINATOR AND FI AUTHORIZING CONTACT Each reporting company must assign a FI Coordinator and a FI Authorizing Contact who will be responsible for all communications, data submissions and data quality verifications. Users assigned to these role codes will have access to submit and view FI data submissions on GISA portal FI COORDINATOR The FI Coordinator is the person responsible for coordinating the FI collection. This individual must be able to answer questions regarding the information in the template and correspond with GISA s Service Provider, IBC, regarding any discrepancies FI AUTHORIZING CONTACT (CERTIFICATE OF THE OFFICER/DESIGNATE) The Certificate of the Officer/Designate is the person responsible for authorizing the contents of the file being submitted and for verifying the completeness and accuracy of the FI collection. One (1) reporting company can assign only one (1) FI Coordinator and (1) FI Authorizing Contact. However, one (1) contact can be assigned by multiple companies within the same group. Reporting companies must provide GISA s service provider, IBC, with the FI contact information by completing the User Access Request Form and ing it to FI@IBC.CA or faxing to (416) Page 8

10 2016 Financial Information OVERVIEW Reporting companies may change their coordinators assignments from time to time and should notify GISA s service provider, IBC, of any such changes. It is the responsibility of the reporting companies to keep their designated coordinators updated with GISA s service provider, IBC ADDITIONAL CONTACTS If any additional contacts are required to receive all Financial Information notifications, please provide GISA s service provider, IBC, with the name, title, mailing address, address, phone number and the company ID(s) of these additional contacts. Please send the requested information by to FI@IBC.CA DEFICIENCY FEE SYSTEM (DFS) GISA has implemented a Deficiency Fee System (DFS) structure for the Financial Information (FI) collection, in order to encourage all reporting companies to submit their data accurately and in a timely manner. The FI DFS will apply to each company group filing of the P&C-Q4, P&C-AS, FI- ULAE and FI-Main (including ABR). The new fees are intended to reflect the costs associated with the retrieval and processing of missing data and the additional resources needed to review data resubmissions. The overall aim is to have all data submitted accurately on time with no fees collected Reported Company Group Fees will be determined based on relative size of reported company groups based on the following table: REPORTED COMPANY GROUP PREVIOUS YEAR S REPORTED DIRECT PREMIUMS WRITTEN RANGE Small $0 - $49,999,999 Medium $50,000,000 - $299,999,999 Large $300,000,000 - $999,999,999 Important Note: For companies who write both automobile and Ontario commercial liability data, the size of the company group will be determined by the larger premium of the two plans. Page 9

11 2016 Financial Information OVERVIEW Late Submission Fees Late FI filings will be subject to the following fees: REPORTED COMPANY GROUP FEE SMALL MEDIUM LARGE Daily $100 $250 $500 The following guidelines also apply for the purpose of calculating the late fee: All FI filings received after 11:59:59PM of the day on which it is due will be considered late; If a FI filing is not received by the end of the day on which it is due, federal holidays and weekends are included in the number of days the return is late; Late fees will accumulate until the FI filing is received (no maximum); Incomplete or non-generated files received after the due date will be considered late; FI filings not received on or before the due date will be considered late; and Certificate of Officer must be submitted on or before the due date by GISA portal. Resubmission Fees FI resubmissions will be subject to the following fees: REPORTED COMPANY GROUP FEE SMALL MEDIUM LARGE Resubmission $2,500 $5,000 $7,500 FI resubmission fees will only apply to the first resubmission, any subsequent resubmissions will not be assessed a fee. FI resubmissions received prior to the reporting deadline will not be assessed a fee. Page 10

12 2016 Financial Information OVERVIEW Calculating Fees Related to Timeliness Sample Scenarios: FI submissions must be received by the end of the day on which it is due (11:59:59PM) or prior to avoid FI late fee charges. March Invoice: $0.00 Example 1: Company: XYZ Company Grouping: Medium FI Due Date (for 2016 submission): March 1, 2017 The 2016 FI submission (S2016) was submitted on February 26, The data (S) was submitted before the due date - Late Fees are not charged. Page 11

13 2016 Financial Information OVERVIEW Companies can be charged a FI late fee for each missing submission on the same Invoice Period Example 2: Company: XYZ Company Grouping: Medium FI P&C Due Date (for 2016 submission): March 1, 2017 FI ULAE Due Date (for 2016 submission): March 6, 2017 The 2016 P&C submission (P&C ) was submitted on March 11, 2017 The 2016 FI-ULAE submission (FI-ULAE) was submitted on March 13, March Invoice: P&C (for 2016 submission) = $2,500 ($250 x 10 days late) FI-ULAE (for 2016 submission) = $1,750 ($250 x 7 days late) March Invoice: FI (for 2016 submission) = $4,250 Page 12

14 2016 Financial Information OVERVIEW Late Submission and Resubmission FI resubmission fees will only apply to the first resubmission of each submission, any subsequent resubmissions will not be accessed a fee. Example 3: Company: XYZ Company Grouping: Medium FI Due Date (for 2016 submission): March 1, 2017 The 2016 FI submission (S2016) was submitted on March 5, The 2016 FI submission (S2016) was resubmitted (R2016) on March 16, 2017 and March 22, March Invoice: FI Late Submission (for 2016 submission) = $1,000 ($250 x 4 days late) FI Resubmission (for 2016 submission) = $5,000 (1 st Resubmission) + $0 (2 nd Resubmission) March Invoice: FI (for 2016 submission) = $6,000 Page 13

15 2016 Financial Information OVERVIEW Late Submission - Companies writing both Automobile and Commercial Liability Example 4: Company: XYZ Company Grouping: Medium Previous Year s Direct Premiums Written: Automobile - $275,000,000 Commercial Liability - $49,00,000 (If an insurer writes both automobile and commercial liability, the size of the company is determined by the larger premium of the two plans) FI Due Date (for 2016 submission): March 1, 2017 The 2016 FI submission (S2016) was submitted on March 5, March Invoice: FI Late Submission (for 2016 submission) = $1,000 ($250 x 4 days late) March Invoice: FI (for 2016 submission) = $1,000 Page 14

16 2016 Financial Information OVERVIEW 1.7. ESCALATION AND DISPUTES If companies fail to submit on or before the provided due dates, the following escalation process will apply: A reminder will be sent and/or a follow-up phone call will be made to the Financial Information Coordinator the day after the due date of each submission. If the financial data is still not submitted within five business days after the follow up, the company will be escalated to GISA and a letter will be sent to the CEO of the company. Note: Companies who fail to respond to questions in a timely manner may also be escalated to GISA. Any escalation or disputes regarding the FI DFS will follow the approved GISA Administrative Review Process posted on GISA s website. GISA s service provider, IBC, does not have any authority to waive fees or alter the due dates CONTACT FOR SUPPORT GISA is committed to providing superior customer service. Through its service provider, IBC, GISA will provide assistance to companies reporting Financial Information by ing FI@IBC.CA or by calling the IBC s Financial Information Team at (local) or (toll free) DISCLAIMERS Reporting companies may find that some definitions described in this document differ from the definitions that the companies use for other purposes. To ensure consistency of the reported data, GISA requests that all reporting companies adhere to the definitions described in this document to report the required automobile and Ontario commercial liability insurance financial data. However, it is not GISA s intention to influence how companies define these data elements for the other purposes for which they are being used. Page 15

17 2. SUBMISSION REQUIREMENTS 2.1. FILE FORMATS P&C-Q4 and P&C-AS 2016 Financial Information SUBMISSION REQUIREMENTS A copy of the P&C-Q4 and the P&C-AS must be submitted using OSFI s file name convention. Example: P&C RETURN P&C-Q4 P&C-AS FILE NAME CA OSFI CA12315A0001.OSFI FI-ULAE The following is the FI-ULAE file naming convention: ULAECCCYYYY.xls FI-Main (Including ABR) SYSTEM GENERATED FILE NAME CONVENTION ULAE 4 characters ULAE CCC 3 numeric Reporting Company Number YYYY 4 numeric Reporting Year The following is the FI-Main file naming convention: FICCCYYYY.xls SYSTEM GENERATED FILE NAME CONVENTION FI 2 characters Financial Information CCC 3 numeric Reporting Company Number YYYY 4 numeric Reporting Year Page 16

18 2016 Financial Information SUBMISSION REQUIREMENTS 2.2. SUBMISSION FILES Successfully Generated Files The template will automatically create a submission file once the user clicks the Generate File button. Figure 1 Message Box Successfully Generated File (FI-ULAE) The generated file will be named ULAECCCYYYY.xls or FICCCYYYY.xls for FI-ULAE and FI-Main, respectively. This file will be saved in the same directory as the template. Please do not alter the file name before submitting to GISA portal. It is highly recommended that a copy of the template is saved with a different file name as any revision to the template, for re-submission, will overwrite the data originally reported Incomplete/ Incorrect Submission Files containing incomplete fields and/or incorrect values will not be generated until all errors are cleared. The system can only display up to a certain number 3 of errors at a time but all error fields/values will be highlighted in red. 3 Please note that the message box can only list a maximum number of ten (10) errors for FI-ULAE and five (5) errors for FI-Main Page 17

19 2016 Financial Information SUBMISSION REQUIREMENTS 2.3. BACKUP SUBMISSIONS Figure 2 Message Box File Not Generated (FI-ULAE) It is your responsibility to keep a backup copy of your files. If GISA s service provider, IBC, encounters problems reading your submission, you will be asked to resubmit the file. When data quality issues are found, GISA s service provider, IBC, may require you to resubmit the data REJECTED SUBMISSIONS All submissions not complying with the requirements set out in this document will be rejected. An receipt will be provided if submissions are rejected for file naming convention and format issues DATA SUBMISSION VIA THE SECURE GISA PORTAL Accessing the System Upon submission of the User Access Request form, IBC will provide a new user ID and password for all new FI Coordinators and FI Authorizing Contacts. Existing users will receive an when the FI Module will be available. The assigned users can access the Financial Information Collection System via GISA s portal at Please note GISA portal is supported with Microsoft Internet Explorer 11 in compatibility mode. Microsoft Internet Explorer version 9 and 10 can be used, however Microsoft support for these and earlier IE versions have been discontinued. Log in to GISA portal by entering the user ID and initial password provided by IBC and click on the Sign in button. Page 18

20 2016 Financial Information SUBMISSION REQUIREMENTS Figure 3 GISA Portal Log in Page The first time you log in, you will be prompted to change the initial password provided by IBC. New passwords must: Have a minimum of 6 and a maximum of 32 characters, Contain characters from three of the following four groups: Uppercase letters (A,B,C ), Lowercase letters (a,b,c ), Numerals (1,2,3 ), Symbols (!,@,#,$, etc.), Are not the same as the five previous passwords, Do not contain the user s name, user ID, or either of these spelled backwards. Users will be locked out after attempting to log in three consecutive times with incorrect username/password combinations Submit FI Data All reporting companies are required to submit each of the applicable FI submissions through GISA portal P&C-Q4 and P&C-AS All automobile and Ontario commercial liability reporting companies must provide a copy of the P&C-Q4 and P&C-AS filings to GISA portal through the Submit FI Data module. Important Note: P&C-Q4 and P&C-AS must be submitted at the same time and prior to any other FI filings, as this will prepare the system for all subsequent FI submissions. Page 19

21 2016 Financial Information SUBMISSION REQUIREMENTS Users will be required to select the Submission Type P&C-Q4 and complete all mandatory fields (*). Figure 4 Portal Submit FI Data Screen (P&C) FIELD NAME INSTRUCTIONS ADDITIONAL NOTES Submission Type Financial Year Month Range OSFI ID Select Companies Select P&C-Q4 Select the year in which the data is reported Select the month range the data was reported Manually enter your ID number as assigned by your primary regulator (Office of the Superintendent of Financial Institutions (OSFI) or a provincial/territorial regulator) Select all affiliated companies by checking the boxes with the correct company numbers This section includes the P&C-AS Format (ANNNN) or (AANNN) A = Alpha N = Number If any company numbers are missing, contact FI@IBC.CA MANDATORY /OPTIONAL Page 20

22 2016 Financial Information SUBMISSION REQUIREMENTS FIELD NAME INSTRUCTIONS ADDITIONAL NOTES Main Company P&C-Q4 File & P&C-AS File Select the main company number from the drop down menu Select the Browse button and upload both the P&C-Q4 and P&C-AS The drop down list of companies will only appear if the company belongs to a group File name must follow the OSFI naming convention and have a.osfi extension (CA OSFI and CA12316A0001.OSFI) MANDATORY /OPTIONAL FI-ULAE (Automobile Only) Users will be required to select the Submission Type FI-ULAE and complete all mandatory fields (*). Figure 5 Portal Submit FI Data Screen (FI-ULAE) Page 21

23 2016 Financial Information SUBMISSION REQUIREMENTS FIELD NAME Submission Type Financial Year Select Group FI-ULAE File Attestation File Select FI-ULAE INSTRUCTIONS Select the year in which the data is reported Select from the populated OSFI ID options Select the Browse button and upload the FI-ULAE filing Select the Browse button and upload the Attestation File if Printable Certification has been chosen ADDITIONAL NOTES Only one OSFI ID can be selected per FI_ULAE filing File name must have a.xls extension File name must have a.pdf extension MANDATORY /OPTIONAL Optional FI-Main (Including ABR) Users will be required to select the Submission Type FI-Main and complete all mandatory fields (*). Figure 6 Portal Submit FI Data Screen (FI-Main) Page 22

24 2016 Financial Information SUBMISSION REQUIREMENTS FIELD NAME Submission Type Financial Year Select Group FI-Main File Attestation File Select FI-Main INSTRUCTIONS Select the year in which the data is reported Select from the populated OSFI ID options. Select the Browse button and upload the FI-Main filing Select the Browse button and upload the Attestation File if Printable Certification has been chosen ADDITIONAL NOTES Only one OSFI ID can be selected per FI- Main filing File name must have a.xls extension File name must have a.pdf extension MANDATORY /OPTIONAL Optional View Submission The View Submission section of the GISA portal displays the status and details of the data files submitted. Drop down menus will be available to customize search results. Figure 7 Portal View Submissions Screen For convenience, users will be able to sort the headings by OSFI ID or Received Timestamp if necessary. Page 23

25 2016 Financial Information SUBMISSION REQUIREMENTS Figure 8 Portal View Submissions Search Screen Should any FI submissions need to be refiled; companies will have the option to resubmit by clicking on the Resubmit link. Figure 9 Portal View Submissions Resubmit Button In the Resubmit FI Data section, companies will be able to refile any previous submissions by clicking on the Browse button and uploading a new filing. Figure 10 Portal Resubmit FI Data Screen Copies of all processed FI submissions can be retrieved from the View Submissions search results. Figure 11 Portal View Submissions Retrieving Submitted Files Page 24

26 2016 Financial Information SUBMISSION REQUIREMENTS Companies will be able to export a detailed list of FI submitted data using the Export button. Figure 12 Portal View Submissions Export Button The FI submission details will be displayed in Excel format including all reporting companies under the organization ID. Figure 13 Portal View Submissions Export Excel File (Sample) Page 25

27 P&C-Q4 AND P&C-AS 2016 Automobile Financial Information All automobile and Ontario commercial liability reporting companies are mandated by GISA to provide a copy of the P&C-Q4 and P&C-AS which were filed with their primary regulators. Please refer to Submission Requirements section on how to submit your filings FI-ULAE (Automobile Only) The FI-ULAE template will only be required for automobile writers to complete by the due date. The template must first be saved to a working directory as the macro will generate the appropriate submission file into the same directory. For companies reporting multiple FI-ULAE filings, it is highly recommended to save a copy of each completed template with a different file name (e.g ULAE Template_C123.xlsm). The template contains two tabs that must be completed in order to generate a submission file. Figure 14 FI-ULAE Template Tabs Page 26

28 2016 Automobile Financial Information In order to utilize the functions built into the tabs, all users must first enable editing and macros in the template. Figure 15 Message Screen - Enable Editing Figure 16 Message Screen - Enable Macros TAB 1 Cover In this tab, general information about the company is required. As shown in Figure 19, drop down menus have been provided for the majority of the fields with the exception of the cells in white which must be manually completed. A French version of the template can be accessed by clicking on the French button. A Reset Template button is available to clear all previously entered information. Figure 17 Tab 1-cover - Manual Input and Drop-down Menus (FI-ULAE) Page 27

29 Reporting Company 2016 Automobile Financial Information FIELD NAME Main Company Number Company Name Affiliated Company Number(s) OSFI ID P&C Type ROW & COLUMN [row 8, column C] [row 9, column B] [row 10, column C] [row 11, column B] [row 12, column B] INSTRUCTIONS Select the main company number from the drop down menu Once selected, indicate in the message box whether the company is in run-off (Figure 18) Company Name will automatically be populated when main company number is selected Select all affiliated companies by highlighting company numbers in the list provided DO NOT USE [SHFT/CTRL] key Once the list is final, click on Add Selected Company Number(s) button to automatically populate the cell Once selected, indicate in the message box which of the company number(s) are in runoff (Figure 19) Manually enter your ID number as assigned by your primary regulator (Office of the Superintendent of Financial Institutions (OSFI) or a provincial/territorial regulator) Select the P&C Return as filed with OSFI or the provincial/territorial insurance regulator ADDITIONAL NOTES Main company number will automatically populate cell The drop down list of companies will only appear if the company belongs to a group Affiliated Company Number list will not roll-back up once selected A Clear All button is provided to remove previously selected companies Format (ANNNN) or (AANNN) A = Alpha N = Number Options available: P&C Canadian P&C Foreign MANDATORY /OPTIONAL (for group reporting) Page 28

30 2016 Automobile Financial Information Figure 18 Message Box - Main Company Run-Off Figure 19 Message Box - Affiliated Company Run-Off FI Coordinator The FI Coordinator is the person responsible for coordinating the FI-ULAE collection. For further information, please refer to the Overview section (FI Coordinator). FIELD NAME Name Title Phone ROW & COLUMN [row 15, column B] [row 16, column B] [row 17, column B] [row 18, column B] INSTRUCTIONS Manually enter your first and last name Manually enter your title Manually enter your business telephone and extension Manually enter your address ADDITIONAL NOTES Mixed case accepted (i.e. John Smith, JOHN SMITH) Format (NNN-NNN-NNNN EXT) N = Number; EXT=Extension MANDATORY /OPTIONAL Page 29

31 2016 Automobile Financial Information FI Authorizing Contact - Certificate of the Officer/Designate The FI Authorizing Contact - Certificate of the Officer/Designate is the person responsible for authorizing the contents of the FI-ULAE filing. For further information, please refer to the Overview section (FI Authorizing Contact Certificate of the Officer/Designate). If the Officer/Designate is the same person as the FI Coordinator, then select the check box to automatically populate the Certificate of the Officer/Designate section with the previously entered FI Coordinator information. Figure 20 Certificate of the Officer/Designate Otherwise, the FI Authorizing Contact - Certificate of Officer/Designate section must be manually completed as follows: FIELD NAME Name Title Phone ROW & COLUMN [row 22, column B] [row 23, column B] [row 24, column B] [row 25, column B] INSTRUCTIONS Manually enter your first and last name Manually enter your title Manually enter your business telephone and extension Manually enter your address ADDITIONAL NOTES Mixed case accepted (i.e. John Smith, JOHN SMITH) Format (NNN-NNN-NNNN EXT) N = Number; EXT=Extension MANDATORY /OPTIONAL Electronic/Printable Certification After the template has been completed, the Certificate of the Officer/Designate must select the preferred authorization method ( Electronic Certification or Printable Certification ) in order to certify the filing of the FI-ULAE collection. FIELD NAME Electronic Certification ROW & COLUMN [row 20, column B] INSTRUCTIONS Select this option by clicking on the radio button if electronic certification is preferred ADDITIONAL NOTES Certification by the Officer/Designate is required in order to complete the FI-ULAE collection filing MANDATORY /OPTIONAL (if electronic is preferred) Page 30

32 2016 Automobile Financial Information FIELD NAME Printable Certification ROW & COLUMN [row 20, column B] INSTRUCTIONS Select this option by clicking on the radio button if printable certification is preferred ADDITIONAL NOTES Certification by the Officer/Designate is required in order to complete the FI-ULAE collection filing MANDATORY /OPTIONAL (if printed copy is preferred) Printable Certification can be printed and sent through GISA Portal. Figure 21 GISA Portal Attestation File - Certificate of the Officer/Designate FIELD NAME INSTRUCTIONS ADDITIONAL NOTES Attestation File Select the Browse button and upload the Attestation file Required if Printable option is selected File name must have a.pdf extension Page 31

33 Distribution Channel 2016 Automobile Financial Information Each company is required to indicate its Primary Distribution Channel. If the company utilizes a second distribution channel which makes up at least 25% of the business, a Secondary Distribution Channel must be selected. FIELD NAME Primary Channel Secondary Channel ROW & COLUMN [row 28, column C] [row 29, column C] INSTRUCTIONS Select the primary distribution channel from the drop down menu Select the secondary distribution channel from the drop down menu ADDITIONAL NOTES Options available: External Broker Captive/Internal Agent Direct Writer Other Options Available: Not Applicable External Broker Captive/Internal Agent Direct Writer Other MANDATORY /OPTIONAL (for companies with a secondary distribution channel which makes up at least 25% of the business) Ownership Each company is required to indicate its origin of ownership. FIELD NAME Ownership Specify country of ownership if outside Canada/US ROW & COLUMN [row 31, column C] [row 32, column C] INSTRUCTIONS Select Ownership from the drop down menu Manually enter the country of ownership if outside Canada/US ADDITIONAL NOTES Options available: Canadian United States Other MANDATORY /OPTIONAL (if outside of Canada/US) Page 32

34 Incorporation Jurisdiction 2016 Automobile Financial Information Each company is required to indicate its Incorporation Jurisdiction. FIELD NAME Incorporation Jurisdiction ROW & COLUMN [row 34, column C] INSTRUCTIONS Select Incorporation Jurisdiction from the drop down menu ADDITIONAL NOTES Options available: Federal Provincial Other MANDATORY /OPTIONAL Auto Business Written Each company is required to indicate its Auto Business Written. FIELD NAME Auto Business Written ROW & COLUMN [row 36, column C] INSTRUCTIONS Select Auto Business Written from the drop down menu ADDITIONAL NOTES Options available: Private Passenger Auto Only Other than Private Passenger Auto Only Both MANDATORY /OPTIONAL Reporting Period Each company is required to indicate its fiscal year Start Date. The End Date will automatically be populated. FIELD NAME Start Date End Date ROW & COLUMN [row 39 column C] [row 40, column C] INSTRUCTIONS Select the Start Date of your company s fiscal year from the drop down menu No need to select the End Date ADDITIONAL NOTES Start Date will automatically populate cell End Date will automatically populate cell MANDATORY /OPTIONAL No action needed for this field Page 33

35 Allocation Method 2016 Automobile Financial Information All companies are required to indicate the Allocation Method Used for the allocation of ULAE and Provincial Health Levy. Please note that reporting companies must use their own company-specific methodology, if available, or develop an allocation method that is reasonable based on the company s business. The Allocation Method provided in the document should only be used in the event that the company is lacking its own methodology. ROWS & INSTRUCTIONS/ FIELD NAME COLUMNS ADDITIONAL NOTES Allocation Method ULAE & Provincial Health Levy What is the allocation method Options available: [row 44, used this year to complete this Company Specific column C] file? GISA Briefly describe the company s methodology: For ULAE and Provincial Health Levy, please Manually enter the indicate if the allocation methods company s methodology [row 45, are different from each other once, unless different column B] (e.g. ULAE is allocated based on allocation methods are premiums earned, but Provincial used Health Levy is allocated based on premiums written) Options available: Company doesn t have its own methodology Specify the reason for using GISA [row 46, Company s Provided methodology column C] methodology is similar to GISA Methodology was recommended MANDATORY/ OPTIONAL (if Company Specific allocation method is selected) (If GISA allocation method is selected) Page 34

36 2016 Automobile Financial Information ROWS & FIELD NAME COLUMNS Allocation Method ULAE & Provincial Health Levy Is the allocation method used this year different from last year? Briefly describe the difference(s) Additional Notes/Comments [row 47, column C] [row 48, column B] INSTRUCTIONS/ ADDITIONAL NOTES Options available: Yes No Manually enter the difference(s) MANDATORY/ OPTIONAL (if Yes) Please report any significant changes during the reporting period which may affect the analysis or comparison of reported data. These changes include, but are not limited to, changes in shareholder structure, changes in distribution channels, mergers, or acquisitions, etc. FIELD NAME Additional Notes/Comments ROW & COLUMN [row 44, column B] INSTRUCTIONS Manually enter your comments ADDITIONAL NOTES If there are no significant changes to report, enter Not Applicable or N/A MANDATORY /OPTIONAL Tab 2 - ULAE The four (4) major components of this tab include: Section 1 PPA (excluding FARM) Section 2 Other than PPA (excluding FARM) Section 3 Auto Total (including FARM) Section 4 Auto Total (FARM only) The user is required to complete the first three (3) sections of this tab, as the fourth is automatically computed. Each section is comprised of three (3) data elements: Provincial Health Levy, Unallocated Loss Adjustment Expense and Direct Claims Incurred. Each of the data elements must be reported provincially. To simplify the reporting, all provinces have been included and arranged in the same order as reported in the P&C-Q4. Page 35

37 Definitions of Required Data Elements Provincial Health Levy 2016 Automobile Financial Information The provincial health levy is assessed by provincial governments using a formula based on premiums or exposures. It is paid by insurance companies on an aggregated basis to reimburse provincial governments for the health care expenses incurred by claimants because of automobile accidents. In this sense the provincial health levy can be considered as part of the incurred claims. Please report the actual provincial health levy incurred amounts included in the direct claims incurred amounts shown in the P&C-Q4 page as described in the direct claims incurred table below. If you do have premium and Health Levies assessed at less than $500, please round the value to 1 to represent $1, Unallocated Loss Adjustment Expenses (ULAE) ULAE auto total is defined in the same way as the internal adjustment expenses in the P&C-AS page Row 69. Reporting companies are encouraged to determine the ULAE for automobile insurance on an actual accrued basis. Please report the actual ULAE incurred amounts included in the direct claims incurred amounts shown in the P&C-Q4 page as described below. One of the main purposes for collecting the ULAE is to establish the ULAE provision to be applied to the GISA Automobile Insurance Exhibits. The reported ULAE incurred amounts must be greater than $0. Please note and keep in mind to ensure the reasonability of the % of ULAE to Direct Claims Incurred. The amount may be questioned by regulators as the individual company ULAE provision entered may be used or considered in Automobile Rate Filing applications Direct Claims Incurred Please report the numbers provincially as shown in the P&C-Q4: P&C-Q4 PAGE DESCRIPTION PAGE NUMBER ROW Direct Claims Incurred Private Passenger Auto Direct Claims Incurred Other than Private Passenger Auto Direct Claims Incurred Automobile Total (including FARM) Page 36

38 Reporting Data Elements 2016 Automobile Financial Information ROWS & FIELD NAME COLUMNS Section 1 PPA (excluding FARM) Provincial Health Levy PPA ULAE PPA Direct Claims Incurred PPA [row 6, [row 7, [row 8, Section 2 Other than PPA (excluding FARM) INSTRUCTIONS Default values are set to zero Manually enter the values in thousands of dollars ($'000s) per province ADDITIONAL NOTES PPA values must be in pure integer without thousand separator, decimal point, or any other special characters Blank cells will generate an error Provincial Health Levy Other than PPA ULAE Other than PPA Direct Claims Incurred Other than PPA [row 11, [row 12, [row 13, Section 3 Auto Total (including FARM) Default values are set to zero Manually enter the values in thousands of dollars ($'000s) per province Other than PPA values must be in pure integer without thousand separator, decimal point, or any other special characters Blank cells will generate an error Provincial Health Levy Auto Total ULAE Auto Total Direct Claims Incurred Auto Total [row 16, [row 17, [row 18, Default values are set to zero Manually enter the values in thousands of dollars ($'000s) per province Automobile Total (PPA, Other than PPA, and FARM) values must be in pure integer without thousand separator, decimal point, or any other special characters Blank cells will generate an error Section 4 Auto Total (FARM only) Provincial Health [row 21, Levy PPA [row 22, ULAE PPA Direct Claims Incurred PPA [row 23, Automatically calculated field Entry of values is not allowed in this field Page 37

39 2016 Automobile Financial Information 3.3. FI-Main It is mandatory for all automobile insurance writers currently reporting statistical data to GISA to report their P&C-Q4, P&C-AS, FI-ULAE and FI-Main filing (including the Ontario commercial liability ABR portion, if applicable). Starting March 1, 2017, companies who were only writing Ontario commercial liability data will also be mandated to submit the P&C-Q4, P&C-AS and the FI-Main ABR portion of the filing. The FI-Main reporting requirements by plan are outlined below: TAB PLAN BUSINESS WRITTEN INSTRUCTIONS Tab 1-cover ASP PPA/Both All Fields Other than All fields except PPA only Allocation Method section CLSP Commercial All except Allocation MANDATORY/NOT APPLICABLE Liability Method section Tab 2-4 PPL- ASP PPA/Both All Fields TPL/PA/OTH Other than PPA only Not Applicable Tab 8-run-off ASP PPA/Both All Fields Other than PPA only Not Applicable Tab 9-additional ASP PPA/Both All Fields Other than Complete Section 2 - PPA only Other than PPA and Section 3 - Auto total Tab 10-summary ASP PPA/Both Automatically generated Other than PPA Not Applicable Tab 11-ABR-ASP ASP All All sections Tab 12-ABR-CLSP CLSP All All sections The template must first be saved to a working directory as the macro will generate the appropriate submission file into the same directory. For companies reporting multiple FI-Main collection filings, it is highly recommended to save a copy of each completed template with a different file name (e.g FI Main Template_C123.xlsm). Page 38

40 2016 Automobile Financial Information In order to utilize the template and the functions built into the tabs, all users must first enable editing and macros in the template. Figure 22 Message Screen Enable Editing Figure 23 Message Screen - Enable Macros TAB 1 Cover In this tab, general information about the company is required. As shown in Figure 24, drop down menus have been provided for the majority of fields with the exception of the cells in white which must be manually completed. A French version of the template can be accessed by clicking on the French button. A Reset Template button is available to clear all previously entered information. Figure 24 Tab 1-cover Manual Input and Drop-down Menus (FI-Main) Page 39

41 Reporting Company 2016 Automobile Financial Information FIELD NAME Main Company Number Company Name Affiliated Company Number(s) included in this filing OSFI ID P&C Type ROW & COLUMN [row 8, column C] [row 9, column B] [row 10, column C] [row 11, column B] [row 12, column B] INSTRUCTIONS Select the main company number from the drop down menu Once selected, indicate in the message box whether the company is in run-off (Figure 25) Company Name will automatically be populated when main company number is selected Select all affiliated companies by highlighting reporting companies in the list provided DO NOT USE [SHFT/CTRL] key Once the list is final, click on Add Selected Company Number(s) button to automatically populate the cell Once selected, indicate in the message box which of the company number(s) are in run-off (Figure 26) Manually enter your ID number as assigned by your primary regulator (Office of the Superintendent of Financial Institutions (OSFI) or a provincial/territorial regulator) Select the P&C Type as filed with OSFI or the provincial/territorial insurance regulator ADDITIONAL NOTES Main company number will automatically populate cell The drop down list of companies will only appear if the company belongs to a group Affiliated Company list will not roll-back up once selected A Clear All button is provided to remove previously selected companies Format (ANNNN) or (AANNN) A = Alpha N = Number Options available: P&C Canadian P&C Foreign MANDATORY /OPTIONAL (for group reporting) Page 40

42 2016 Automobile Financial Information Figure 25 Message Box - Main Company Run-Off Figure 26 Message Box - Affiliated Company Run-Off FI Coordinator The FI Coordinator is the person responsible for coordinating the FI-Main collection. For further information, please refer to the Overview section (FI Coordinator). FIELD NAME Name Title Phone ROW & COLUMN [row 15, column B] [row 16, column B] [row 17, column B] [row 18, column B] INSTRUCTIONS Manually enter your first and last name Manually enter your title Manually enter your business telephone and extension Manually enter your address ADDITIONAL NOTES Mixed case accepted (i.e. John Smith, JOHN SMITH) Format (NNN-NNN- NNNN EXT) N = Number; EXT=Extension MANDATORY /OPTIONAL Page 41

43 2016 Automobile Financial Information FI Authorizing Contact - Certificate of the Officer/Designate The FI Authorizing Contact - Certificate of the Officer/Designate is the person responsible for authorizing the contents of the FI-Main filing. For further information, please refer to the Overview section (FI Authorizing Contact Certificate of the Officer/Designate). If the Officer/Designate is the same person as the FI-Coordinator, then select the check box to automatically populate the Certificate of the Officer/Designate section with the previously entered FI-Coordinator information. Figure 27 Check Box Same FI Coordinator Otherwise, the Certificate of Officer/Designate section must be manually completed as follows: FIELD NAME Name Title Phone ROW & COLUMN [row 22, column B] [row 23, column B] [row 24, column B] [row 25, column B] INSTRUCTIONS Manually enter your first and last name Manually enter your title Manually enter your business telephone and extension Manually enter your address ADDITIONAL NOTES Mixed case accepted (i.e. John Smith, JOHN SMITH) Format (NNN-NNN-NNNN EXT) N = Number; EXT=Extension MANDATORY /OPTIONAL Electronic/Printable Certification After the template has been completed, the Certificate of the Officer/Designate must select the preferred authorization method ( Electronic Certification or Printable Certification ) in order to certify the filing of the FI-Main collection. FIELD NAME Electronic Certification ROW & COLUMN [row 20, column B] INSTRUCTIONS Select this option by clicking on the radio button if electronic certification is preferred ADDITIONAL NOTES Certification by the Officer/Designate is required in order to complete the FI-Main collection filing MANDATORY /OPTIONAL (if electronic is preferred) Page 42

44 2016 Automobile Financial Information FIELD NAME Printable Certification ROW & COLUMN [row 20, column B] INSTRUCTIONS Select this option by clicking on the radio button if printable certification is preferred ADDITIONAL NOTES Certification by the Officer/Designate is required in order to complete the FI-Main collection filing MANDATORY /OPTIONAL (if printed copy is preferred) Printable Certification can be printed and sent through GISA portal. Figure 28 GISA Portal Attestation File - Certificate of the Officer/Designate FIELD NAME INSTRUCTIONS ADDITIONAL NOTES Attestation File Select the Browse button and upload the Attestation file Required if Printable option is selected File name must have a.pdf extension Page 43

45 Distribution Channel 2016 Automobile Financial Information Each company is required to indicate its Primary Distribution Channel. If the company utilizes a second distribution channel which makes up at least 25% of the business, a Secondary Distribution Channel must be selected. FIELD NAME Primary Channel Secondary Channel ROW & COLUMN [row 28, column C] [row 29, column C] INSTRUCTIONS Select the primary distribution channel from the drop down menu Select the secondary distribution channel from the drop down menu ADDITIONAL NOTES Options available: External Broker Captive/Internal Agent Direct Writer Other Options Available: Not Applicable External Broker Captive/Internal Agent Direct Writer Other MANDATORY /OPTIONAL (for companies with a secondary distribution channel which makes up at least 25% of the business) Ownership Each company is required to indicate its origin of ownership. FIELD NAME Ownership ROW & COLUMN [row 31, column C] INSTRUCTIONS Select Ownership from the drop down menu ADDITIONAL NOTES Options available: Canadian United States Other MANDATORY /OPTIONAL Specify country of ownership if outside Canada/US [row 32, column B] Manually enter the country of ownership if outside Canada/US (if outside of Canada/US) Page 44

46 Incorporation Jurisdiction 2016 Automobile Financial Information Each company is required to indicate its Incorporation Jurisdiction. FIELD NAME Incorporation Jurisdiction ROW & COLUMN [row 34, column C] INSTRUCTIONS Select Incorporation Jurisdiction from the drop down menu ADDITIONAL NOTES Options available: Federal Provincial Other MANDATORY /OPTIONAL Business Written Each company is required to indicate its Business Written. FIELD NAME Business Written ROW & COLUMN [row 35, column C] INSTRUCTIONS Select Business Written from the drop down menu ADDITIONAL NOTES Options available: Auto Only Commercial Liability Only Both MANDATORY /OPTIONAL Please note that when Commercial Liability Only is selected, the user will not be required to complete Tab 1-cover: Allocation Methods, Tabs 2-4 PPA-TPL/PA/OTH, Tab 8-run-off, Tab 9- additional and Tab 11-ABR-ASP. The only tabs that need to be completed are Tab 1-cover (except Allocation Method section) and Tab 12-ABR-CLSP. Figure 29 Message Box - Commercial Liability Only Page 45

47 2016 Automobile Financial Information Auto Business Written Each company is required to indicate its Auto Business Written. FIELD NAME Auto Business Written ROW & COLUMN [row 36, column C] INSTRUCTIONS Select Auto Business Written from the drop down menu ADDITIONAL NOTES Options available: Private Passenger Auto Only Other than Private Passenger Auto Only Both No Auto MANDATORY /OPTIONAL Please note that when Other than PPA Auto Only is selected, the user will not be required to complete Tab 1-cover: Allocation Methods, Tabs 2-4 PPA-TPL/PA/OTH, and Tab 8-run-off. The only tabs that need to be completed are Tab 1-cover (except Allocation Method section), Tab 9- additional and Tab 11-ABR-ASP. Figure 30 Message Box - Other than PPA only Important Note: If Commercial Liability Only is selected in the Business Written field, the No Auto option will automatically populate this field Reporting Period Each company is required to indicate its fiscal year Start Date. The End Date will automatically be populated. Page 46