Statement: CLHIA applauds the release of CCIR/CISRO's Consolidated Segregated Fund Guidance

News Release

Issued on behalf of Stephen Frank, President and CEO, Canadian Life and Health Insurance Association.

(Toronto, November 19, 2025) The Canadian Life and Health Insurance Association applauds today’s release of the Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) Consolidated Segregated Fund Guidance.

The Guidance will result in better information for consumers to make informed investment choices and allow for continued strong competition and innovation in the market.

Development of the Guidance has been part of a multi-year project in which CCIR and CISRO have worked collaboratively with the insurance industry. The Guidance creates a modernized national standard for the regulation of individual variable insurance contracts (IVICs) which will apply in all provinces and territories.

New advisor market conduct requirements for client needs assessment and competency will strengthen protection for consumers and further harmonize with the investment funds industry. The allowance for a range of compensation options for advisors, including continued allowance for use of the advisor chargeback sales charge option, will promote access to advice for a broad range of consumers.

Our members look forward to continuing to work collaboratively with the CCIR and CISRO on implementation of the Guidance adopting a principles-based approach.


About the CLHIA

The CLHIA is a voluntary association whose member companies account for 99 per cent of Canada’s life and health insurance business. These insurers provide a wide range of financial security products including life insurance, annuities (including TFSAs, RRSPs, RRIFs and pensions) and supplementary health insurance to nearly 30 million Canadians. They hold over $1 trillion in assets in Canada and employ almost 180,000 Canadians.