Canadian Reserve Certification: Current Requirements and Practices

Recent requirements passed in Canada require certification of loss and policy reserves for Insurance companies licensed to conduct business In Canada. Since many U.S. insurance companies operate branches or subsidiaries In Canada, these requirements Impact many Fellows of the Casualty Actuarial Society practicing in fife U. S. This paper summarizes the current requirements for certifying and reporting on these reserves. The paper includes a discussion of flue key differences In Canadian and U. S. accounting practices that are of concern to the actuary who is responsible for Canadian reserves.