Skip to main content

New Annual Compliance Process for Coverholders includes Declaration Page Review

Tue 18 Dec 2018

In Canada, the provincial insurance acts have stringent requirements for insurance documentation.  At Lloyd’s, we want to ensure all Canadian coverholders are using declaration pages that meet the necessary requirements.   

We have undertaken a coverholder declaration page review which will be required as part of the coverholder annual compliance task. 

Here are some tips to make sure you are meeting these requirements:

For the purpose of the Insurance Companies Act (Canada), this Canadian Policy was issued in the course of Lloyd’s Underwriters’ insurance business in Canada

THIS POLICY CONTAINS A CLAUSE WHICH MAY LIMIT THE AMOUNT PAYABLE.

Failure to comply with the above requirements could attract a fine by the regulatory authorities.

To view a sample declaration page, visit https://www.lloyds.com/lloyds-around-the-world/americas/canada/market-conduct. The sample is Declaration Page – LSW 1548C.

If you have any questions or concerns, feel free to contact Coverholders@lloyds.com