The SETpro 2025 Interim Release is now available for download on the SETpro website. This release delivers enhanced validation rules and Pro Tools improvements.
This bulletin also includes important information for Alberta filers regarding the Q4 PC2 XML resubmission requirements (see March 6 email).
• PC Pro 2025 Interim
• 2025 F8 Pro
• Earthquake Pro 2024 (located in the Annual P&C Pro folder)
• StatsCan BP 27/28 2024 Pro (located in the Annual P&C Pro folder)
This release reiterates the PC2 XML file resubmission requirements for Alberta, initially communicated on March 6, 2025.
Alberta regulators require insurers incorporated or licensed to operate in Alberta to resubmit their PC2 XML file from their Q4 2024 submission. SETpro is providing this information in response to a request from the Alberta regulators, as several insurers required to file with Alberta have not yet submitted their updated PC2 XML file.
• Requirement: A number of insurers have not yet provided the updated Q4 2024 PC2 XML.
• Template: The updated PC2 XML Template was distributed by SETpro via email on March 6, 2025.
• Alberta system Update: Alberta's Iris data upload system now accepts the resubmitted PC2 XML files.
• Federally Regulated Filers: Resubmit the same updated PC2 XML file provided to OSFI.
• Extra-Provincially Incorporated Filers: Create the updated PC2 XML file following the instructions in the SETpro email from March 6, 2025.
• Format: Resubmit PC2 data in XML file format only. ASCII format submissions will not be accepted.
• Contact: For assistance or to obtain the March 6th email, please contact Sydney Richardson.
This release focuses on improving data quality and user experience through enhanced validation and Pro Tools. There are no changes to P&C regulatory returns and filing requirements.
• New rules ensure greater data consistency across all reporting quarters.
• These rules will be implemented in RRS in Q2 2025 but are included in this interim release for early adoption.
o New cross-checks:
- Income statement provisions for credit losses (row 250 of the Statement of Income and Loss) against Investment Return (row 440, page 40.72) and total provisions reported on the Analysis of Current Year Provisions page (row 199, column 59 on page 40.88).
- Balance sheet provisions (Stages I, II, and III) on the Analysis of Current Year Provisions with the provisions reported on the Summary of Investments page.
• Location: Validations are currently in the OSFI section of the Errors tab and will move to the OSFI AMF Validation tab in Q2 2025 to align with RRS.
• The Pro tools have been updated with the following data validation enhancements:
o Decimal Check - Improved detection of inputs with incorrect decimal precision (values outside the allowable range of 5 or 2 decimal places).
o New Data Format Validation - A new validation check has been added to identify value and reference errors that affect custom menu features and data file creation. (Note: In Q4 2025, these checks will be expanded to include other Q4 data input format requirements, such as dates and special text.)
o Warnings Check - Improved notifications, with more precise and actionable alerts.
• The Earthquake Pro return remains unchanged, except for an update to row 2146 (applicable to Foreign Branches).
• Row 2146 now allows exchange rates to be entered with up to 5 decimal places (previously whole numbers only).
• There are no changes to the quarterly F8 or annual BP 27 and 28 returns.
• The StatsCan F8 Pro package has been posted the interim folder.
• The StatsCan BP27/28 Pro package has been posted to the Annual 2024 folder.
Given the extent of the changes noted above, the Pro Support Team is happy to assist you if with any questions or concerns.
Please do not hesitate to contact our Support Team general mailbox at support@setproco.com.
Reach out to us at hello@setproco.com if you have not yet set up your user access to our website https://www.setproco.com/
Help us improve Pro tools by sharing your filing experience. We value your feedback!
sydney.richardson@setproco.com
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