February 11, 2021
1.1. The Claims Procedures should be read in conjunction with CIPF’s “Coverage Policy”. The Coverage Policy states that CIPF reserves the right to authorize or withhold payments in a manner other than as prescribed in the Coverage Policy, and CIPF’s interpretation of the policy as to the eligibility of a customer shall be final.
1.2. CIPF has undertaken to develop fair and reasonable policies for assessing claims and to pay eligible claims pursuant to these policies. It has also undertaken to establish a fair and reasonable internal claim review process whereby customer
claims that are not accepted for coverage by CIPF shall be reconsidered by the Board of Directors, or the Appeal Committee (as described in section 184.108.40.206.2 of these Claims Procedures), if requested by the customer. This document describes the general
process for the administration of claims.
2. CIPF Establishes Date of Insolvency
2.1. The date at which the financial loss of a customer is determined by CIPF is the date on which the CIPF Member became insolvent.
2.2. For purposes of CIPF coverage, a CIPF Member is generally insolvent on the date a trustee is appointed, or if a trustee is not appointed, the date customers cease to have unrestricted access to their accounts, for example, because the CIPF Member has been suspended by IIROC.
3.1. Where Trustee Appointed
3.1.1. Where CIPF has information that there are eligible customers of an insolvent CIPF Member that may require CIPF coverage, CIPF will usually ask the Court to appoint a trustee, and will participate in the trustee’s claims process so that all customers are advised how to submit claims to the estate of the insolvent CIPF Member.
3.1.2. Claims to the trustee are considered claims to CIPF to the extent consistent with CIPF's Coverage Policy.
3.1.3. CIPF will work with the trustee to ensure that proved claims of eligible CIPF customers that have demonstrated that they will suffer undue hardship if their claim is not dealt with immediately are dealt with on a priority basis.
3.1.4. When the trustee determines the estate does not have sufficient resources to satisfy customer claims, CIPF may settle the losses of eligible CIPF customers by providing the trustee with additional resources, up to the limit of CIPF’s coverage, and subject to availability of sufficient CIPF resources. The time of payment may be affected by a number of factors including the amount of assets immediately available to CIPF to make the payment.
3.1.5. Where any amount of a customer’s claim has been disallowed by the trustee, an eligible CIPF customer can make a request within 45 days of the date of the disallowance to the Appeal Committee (see appeal procedures) to review the disallowance. Customers should also be aware of the availability of any court review under applicable legislation or court procedures, which must be filed within prescribed time limits including, in some cases, within 30 days of the notice of disallowance.
3.2. Trustee Not Appointed
3.2.1. Where a trustee has not been appointed, claims can be made directly to CIPF.
220.127.116.11. Identification of Claims Against the Estate
18.104.22.168. Claim Information
22.214.171.124. Priority of Claim Handling
126.96.36.199. Claims Handling
188.8.131.52. Claims Decisions
184.108.40.206.1 Claims Eligible for Payment
220.127.116.11.2 Claims Not Eligible for Payment
3.3. Discretion of CIPF. Notwithstanding the provisions of these Claims Procedures and their application, whether or not a trustee has been appointed, CIPF reserves the right in its sole discretion to administer claims in any other manner consistent with its Coverage Policy from time to time.
4.1. Appeal Handling
4..1.1. CIPF will acknowledge all appeals, and the format of appeal elected, in writing as received.
4.1.2. CIPF will endeavour to conduct all appeals within six months of receiving the customer’s appeal request and submissions, or as soon as reasonably possible thereafter given the number of appeal requests received at any particular time. The customer will be notified, in writing, of the date and, where relevant, the time and place the appeal is to be conducted. The Appeal Committee may impose specific time limits for a hearing and submissions, if any, as appropriate in the circumstances. If a customer has not specified an appeal format within 30 days of the date of their appeal request, the customer will be deemed to have elected an appeal by written submissions.
4.1.3. Regardless of the appeal format elected by the customer, the Appeal Committee may, in its discretion:
4.1.4. The customer and CIPF staff may have legal counsel or other advisors present at any in-person or teleconference hearing, but the presence of legal counsel or other advisors is optional.
4.1.5. Written submissions on appeal will include all information used by CIPF to make its eligibility determination, any other information the customer requests be considered by the Appeal Committee and a summary of any other evidence including oral evidence to be provided by either CIPF staff or the customer. CIPF staff will provide the customer with the information it has in its possession regarding the claim.
4.1.6. If the customer, or its legal counsel or other advisors, is asked to appear before the Appeal Committee, he or she may take notes or transcripts of the meeting at their own expense.
4.1.7. Any costs incurred by the customer relating to an appeal will be for the account of the customer, not CIPF.
4.2. Appeal Deliberations
4.2.1. The Appeal Committee will conduct its deliberations and make its determination in the absence of CIPF staff, the customer, and the customer’s legal counsel or other advisors.
4.2.2. If the Appeal Committee is comprised of two or more members, the decision of the Appeal Committee will be decided by simple majority but, in the case of an evenly split decision amongst members, the decision of the Chair of the Appeal Committee, as appointed by the Board of Directors, shall prevail.
4.2.3. Once a decision has been made, the customer and CIPF staff will be advised in writing of the Appeal Committee's decision and provided with its written reasons.
4.2.4. If the claim is eligible for coverage, prior to payment, the customer must provide CIPF with a signed agreement by which the claimant subrogates the claim to CIPF before payment is made by CIPF to the claimant.
4.2.5. A customer can request changes to the subrogation agreement, but any such requests must be approved by CIPF and the customer will be obligated to reimburse CIPF for any additional expenses.
4.3. Payment Timing
4.3.1. The time of payment may be affected by a number of factors including the amount of assets immediately available to CIPF to make the payment. However, CIPF will endeavor to pay claims that are determined to be eligible for coverage after an appeal within 30 days after the assignment is received from the customer.
 For the purposes of these Claims Procedures and CIPF coverage of customers of an insolvent CIPF Member, a trustee in bankruptcy, receiver, liquidator or similar insolvency official is generally referred to as a trustee, unless the context provides otherwise.