Initiatives and Projects

Initiatives and Projects
Initiative / Project Name Status Description
Agencies Regulation Committee 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.
Credit Scoring Working Group Complete This working group reviewied and examined issues and options around the use of credit scoring models. Disbanded January, 2013.
Discplinary Information Implementation Working Group Complete This working group is joint CCIR/CISRO team established to implement a Canada-wide disciplinary action informaiton system.
Electronic Commerce Committee Active This committee reviews the use of electronic communications and transactions between insurers and consumers.
Intermediary Regulation Working Group Complete Reviewed compliance monitoring by insurance companies of their intermediaries. Disbanded January, 2011
Insurance Core Principles Implementation Committee Active In 2011 the International Association of Insurance Supervisors (IAIS) adopted a revised set of Insurance Core principles (ICPs) for both prudential and market conduct regulation. CCIR formed this committee to work with regulators to ensure that all the core principles are being met in Canada, particularly those concerning fair treatment of customers.
IVIC Point of Sale Working Group Complete This Working Group was responsible for the development of a Point of Sale Disclosure system for consumers of individual Variable Insurance Contract (segregated fund) products. Disbanded January, 2011
OmbudService Oversight Standing Committee Active This committee works to ensure that third party dispute resolution systems in the Insurance sector, including OLHI and GIO, fulfill the public interest objectives of complaint resolution as an important component of a well-functioning consumer protection policy framework.
Solvency Forum Committee 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.
Standards of Practice Committee Active

To encourage industry's efforts in promulgating codes of conduct, guidelines and standards, CCIR formed this committee to allow both thorough reviews and responses in a timely fashion to such documents that are submitted to us.

Survey Standards Working Group Complete This Working Group was responsible for the development of best practices guidance for regulations on survey design, consulation, communication, etc.
Assuris-PACICC 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.
Facility Association 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.
Forms Committee 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.
Capital Requirements Information Committee Standing Committee This committee meets with the Office of the Superintendent of Financial Institutions to review changes to capital requirements for Life and P & C.
Regulatory Collaboration Committee Standing Committee This committee collaborates with the Office of the Superintendent of Financial Institutions on technical standards, training, emerging issues and enforcement issues.
Regulatory Definitions and Rules Complete This committee researched and reported on insurance-like business activities where there were current or possible future differences in treatment by jurisdictions.
Classes of Insurance 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.
E-Commerce 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.
Insurer Licenses Complete Responsible for the development of Applications for Insurer's License.
IPRC 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.
ISI 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.
LLQP Integrity 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.
Privilege 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.
Rebating and Inducements 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.
Reciprocal Licensing 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.
Streamlining and Harmonization 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.