Crystal Search Results

Printed on: 24 Oct 2019

Results for your tailored search displayed by territory.

Please make sure you view all key information in your search results before accepting a risk in the chosen territory.

Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice. Information relating to Lloyd’s Brussels Subsidiary may be subject to regulatory approval.

Canada - British Columbia * Lloyd's
* Please see Authorisation for details of Lloyd's underwriters licensing status
Please see Authorisation for details of Lloyd's Brussels licensing status

Tax - Provincial premium tax

Accident and health

Lloyd's
Rate of premium tax is 2%.
Last updated: 21 May 2008

Aircraft hull and aircraft liability

Lloyd's
Rate of premium tax is 4%.
Last updated: 21 May 2008

Assistance

Lloyd's
Rate of premium tax is 4%.
Last updated: 21 May 2008

Bloodstock

Lloyd's
Rate of premium tax is 4.4%.

Bloodstock risks are treated as property risks for tax purposes and the location of risk is determined by reference to where the horse is when the premium becomes payable (policy inception date) .
Last updated: 19 Apr 2012

Credit

Lloyd's
Rate of premium tax is 4%.
Last updated: 21 May 2008

General liability

Lloyd's
Rate of premium tax is 4%.
Last updated: 21 May 2008

Cargo and goods in transit

Lloyd's
Rate of premium tax is 4.4%.
Exemption applies to marine cargo risks where the cargo transits via the sea, i.e. it falls within the definition of a marine risk for Canadian regulatory purposes.

Where the goods are stored for longer than 60 days either before movement or after movement any additional premium charged to cover the extension of stay should be treated as a property risk situated where the goods are stored.
Last updated: 14 Aug 2013

Legal

Lloyd's
Rate of premium tax is 4%.
Last updated: 21 May 2008

Life

Lloyd's
Exempt from premium tax.
Last updated: 07 Nov 2012

Miscellaneous financial loss/contingency

Lloyd's
Rate of premium tax is 4%.
Last updated: 21 May 2008

Motor and motor liability

Lloyd's
Rate of premium tax is 4.4%.
Last updated: 21 May 2008

Property and fire

Lloyd's
Rate of premium tax on property is 4.4%.
Last updated: 21 May 2008

Railway rolling stock

Lloyd's
Rate of premium tax is 4.4%.
Last updated: 21 May 2008

Reinsurance

Lloyd's
Exempt from premium tax.
Last updated: 21 May 2008

Ships hull and ships liability

Lloyd's

Exempt from premium tax unless the insured craft is used for pleasure when the rate is 4.4%.  

The “marine” tax exemption is limited to risks associated with navigation of the sea, e.g. ships hull & liability and marine cargo.  Other risks written in the Marine market are treated as either accident, property or liability risks for Canadian regulatory and tax purposes.   Please see detailed content for the definition of a Canadian marine risk.

Last updated: 23 Dec 2011

click for more detail More detail

Suretyship

Lloyd's
Rate of premium tax is 4%.
Last updated: 21 May 2008

Terrorism

Lloyd's
Rate of premium tax is 4.4%.
Last updated: 21 May 2008

Travel

Lloyd's
Rate of premium tax is 4%.
Last updated: 21 May 2008

Method of calculation & administration

Lloyd's

Provincial premium tax is a charge on the insurer and is a deduction from gross premium.

Method of calculation

Rate of tax X gross premium.

How tax should be shown on the slip

Show in fiscal and regulatory details section under 'Tax payable by insurer(s)'.

Method of payment for Lloyd's business

Gross premium is inclusive of provincial premium tax and so is automatically passed to the underwriter with the premium.

Other information

Most provinces require monthly or quarterly payments of tax on account based on the tax due for the preceding year. After the year end the actual tax liability is calculated and a balancing payment made, or a repayment claimed, depending on whether the tax due is less or more that the payments on account.  Lloyd's tax department will arrange for monthly collections of tax from syndicates to fund payments on account.

Last updated: 21 May 2008

Tax - Excise tax

Accident and health

Lloyd's
Exempt from excise tax.
Last updated: 21 May 2008

Aircraft hull and aircraft liability

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due.

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions. However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Assistance

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due. 

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions.  However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Bloodstock

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due.

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions. However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Credit

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due. 

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions.  However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

General liability

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due. 

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions.  However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Cargo and goods in transit

Lloyd's
Exempt from excise tax

Note that the the excise tax definition of a Canadian marine risk is much wider than that used for provincial premium tax purposes.
Last updated: 14 Aug 2013

Legal

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due. 

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions.  However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Life

Lloyd's
Exempt from excise tax.
Last updated: 21 May 2008

Miscellaneous financial loss/contingency

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due.

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions. However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Motor and motor liability

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due.

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions. However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Property and fire

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due.

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions. However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Railway rolling stock

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due.

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions. However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Reinsurance

Lloyd's
Exempt from excise tax.
Last updated: 21 May 2008

Ships hull and ships liability

Lloyd's

Exempt from excise tax

Note that the the Excise tax definition of a Canadian marine risk is much wider than that used for provincial premium tax purposes - please refer to the "More detail" section below

Last updated: 21 Sep 2011

click for more detail More detail

Suretyship

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due. 

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions.  However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Terrorism

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due.

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions. However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Travel

Lloyd's
Rate of excise tax is 10%. Exemption may be applied for by the insured.

Excise tax applies to Canadian business (all provinces) where it has been arranged directly via a non-Canadian resident intermediary or broker, ie not involving a Canadian broker or agent. If a Canadian broker or agent is involved in the placing process excise tax is not due. 

Excise tax applies to Canadian resident assureds where the insured risk is ordinarily in Canada and is not subject to any of the exemptions.  However note that it remains due irrespective of who pays the insurance premium. In the case of a non Canadian resident entity taking out a multinational or global policy that covers a Canadian entity’s risk an excise tax demand will be sent by the Canada Revenue Agency (CRA) to the Canadian entity. Brokers should advise their clients of this fact and suggest they notify any Canadian entities covered by the policy to expect a demand from the CRA.

An exemption from the tax may be applied for where coverage is not available in Canada. This exemption must be requested by using form E638 (application for exemption from premium taxes imposed under the Excise Tax Act Part 1). Please see below. For further details please contact the CRA.
Last updated: 13 Jan 2009

Method of calculation & administration

Lloyd's

Excise tax is a charge on the insured, is an addition to the gross premium and is collected direct by the Canada Revenue Agency (CRA).

An exemption from the tax may be applied for where coverage is not available in Canada.  This exemption must be requested by using form E638. Please see below for access to the application for exemption from premium taxes imposed under the Excise Tax Act Part 1.


Method of calculation

Rate of tax X gross premium (premium excludes retail sales tax)

How tax should be shown on the slip

The tax should not be shown on the MRC but a Canadian "direct assured" tax report form (see below) must be completed and submitted to Xchanging with the slip. 

Method of payment for Lloyd's business

Lloyd's do not collect or pay over this tax to the authorities but are obliged to render a return to the CRA. 

The insured should complete a return (see below) and submit it to the CRA who will issue a notification for payment of excise tax direct to them.  The tax is due and payable on or before 30 April in each year in respect of contracts of insurance entered into or renewed during the immediately preceding calendar year.  Brokers should advise their clients of the excise tax liability.

Excise tax applies to all Canadian resident insureds in relation to insurance taken out either directly or out by a third party on their behalf, e.g. a parent company under a multi-jurisdictional or global policy.  The tax remains due irrespective of who pays the insurance premium.  Brokers should advise their clients of these facts and suggest that any Canadian entities covered by a multi-jurisdictional or global policy are advised of their liability to excise tax by the third party taking out the policy.

See below for a guide on Canadian excise tax and information published by the CRA.  For further details please contact the Canada Revenue Agency.

Last updated: 21 May 2008