I am not sure if the firearm owner insurance would work if you willfully broke the law which you would be doing if you transferred the handgun without prior RCMP authorization. This is different from the 10/22 mag situation as they were not banned by a parliamentary bill or even an OIC but simply by a determination by the RCMP that they were handgun mags and therefore limited to 10 rounds. An opinion from the RCMP is not binding legislation whereas a bill or OIC is.