Initiative / Project Name |
Status |
Description |
|---|---|---|
Active
|
This committee reviews the
regulation of agencies, brokers and administrators, and considers risks
to consumers and legislative & regulatory issues regarding the application
of electronic commerce. |
|
Active
|
This working group reviews
and examines issues and options around the use of credit scoring models.
|
|
Active
|
This committee reviews the
use of electronic communications and transactions between insurers and
consumers. |
|
Active |
Reviews compliance monitoring
by insurance companies of their intermediaries. |
|
Active |
Responsible for the development
of a Point of Sale Disclosure system for consumers of individual Variable
Insurance Contract (segregated fund) products. |
|
Active |
This committee was created in the fall of 2011.
Members agreed that there would be benefit in determining what provincial companies currently exist and in working with PACICC and Assuris to improve insolvency preparedness. |
|
Active |
Responsible for the development
of best practices guidance for regulations on survey design, consulation, communication, etc. |
|
Standing Committee |
Assuris & PACICC protect
Canadians in the event of the collapse of thei Life or Property &
Casualty insurance company. This committee reviews proposed changes to
Assuris/PACCIC rules and regulations. |
|
Standing Committee |
The Facility Association
is an entity established by the automobile insurance industry to ensure
that auto insurance is available to all owners and licensed drivers of
motor vehicles where such owners or drivers are unable to obtain insurance
through the voluntary insurance market. This standing committee reviews
proposed changes to the FA's Plan of Operations under which it and its
members operate. |
|
Standing Committee |
This committee meets with
the Office of the Superintendent of Financial Institutions to review the
various annual and quarterly statement forms filed by insurers to ensure
they contain all required information and meet applicable financial reporting
standards. |
|
Standing Committee |
This committee meets with
the Office of the Superintendent of Financial Institutions to review the
Minimum Capital Test to ensure it remains appropriate for the P&C
industry. |
|
Standing Committee |
This committee collaborates
with the Office of the Superintendent of Financial Institutions on technical
standards, training, emerging issues and enforcement issues. |
|
Standing Committee |
This standing committee researches
and reports on insurance-like business activities where there are current
or possible future differences in treatment by jurisdictions. |
|
Complete |
The objective of the committee
was to develop a set of harmonized, and perhaps reduced number, of classes
of insurance satisfactory to all members of the CCIR and P&C industry,
and to make recommendations for a more efficient process for insurers
adding a new class of business. |
|
| Consumer Protection Initiatives | Complete |
This
working group was established to advance consumer protection initiatives.
|
Complete |
Working
from 2000 through 2002, this committee was charged with undertaking a
review of the impact of the use of electronic commerce (E-Commerce) on
insurance consumers and the insurance industry in Canada to determine
whether regulatory change was required. |
|
Complete |
Responsible
for the development of Applications for Insurer's License. |
|
Complete |
The
Industry Practices Review Committee's objective was to research and recommend
to CCIR and CISRO possible responses and policy objectives with respect
to the environment and controls around compensation to sales intermediaries,
financial linkages between insurers and sales intermediaries, and conflicts
of interest. |
|
Complete |
This
committee's objective was to define the Incidental Selling of Insurance
(ISI) and to identify and gather information on potential issues and claims
processes related to ISI. |
|
| Licensing Considerations | Complete |
The committee was established
by CCIR with CISRO representation to develop policy and procedures for
the consideration of requests for special licenses. |
Complete |
This
committee was formed to address issues arising from the administration
of the examination process and maintenance of the examination question
database for the Life License Qualification Program. |
|
Complete |
This
working group was established to understand, research and recommend to
CCIR an approach to address concerns regarding the confidentiality of
information gathered by insurance companies for internal audits and self-assessment
purposes. |
|
Complete |
The
objective of the committee was to review market conduct proposals solicited
from Industry Associations with regards to the harmonization of legislation
respecting rebates and inducements, tied selling and disclosure requirements.
|
|
Complete |
The
objective of the committee was to research and recommend to CCIR and CISRO
a model for reciprocal licensing that includes a harmonized proposal for
errors and omissions insurance and continuing education. |
|
| Risk based Market Conduct | Complete |
The
objective of this committee was to develop and document a vision of risk
based market conduct regulation. |
Complete |
The
objective of the committee was to solicit and review proposals to introduce
greater streamlining and harmonization of regulatory practices among regulators.
This is now part of the CCIR Strategic Planning process. |