Home Breadcrumb caret News Breadcrumb caret Industry Regulation (November 01, 2008) SOME PROVINCES WOULD HAVE TO CHANGE LAW TO ENACT OSFI’S PART XIII AMENDMENTS: CCIR Legislative changes may be required in some provinces to harmonize provincial insurance regulations with amendments to Part XIII of the federal Insurance Companies Act (ICA), the Canadian Council of Insurance Regulators (CCIR) noted in an online update of its activities. The […] By Canadian Underwriter | October 31, 2008 | Last updated on October 1, 2024 1 min read Plus Icon Image SOME PROVINCES WOULD HAVE TO CHANGE LAW TO ENACT OSFI’S PART XIII AMENDMENTS: CCIR Legislative changes may be required in some provinces to harmonize provincial insurance regulations with amendments to Part XIII of the federal Insurance Companies Act (ICA), the Canadian Council of Insurance Regulators (CCIR) noted in an online update of its activities. The CCIR discussed the potential effects of Part XIII changes during its annual fall meeting in September 2008. “The work to date of the RRC [Reinsurance Research Council] has confirmed that the insurance legislation in many provinces defines insurance in the province on a basis that is not compatible with the new federal definition,” the CCIR notes in its fall meeting highlights. “Therefore, legislation changes may be required in some jurisdictions.” Amendments to Part XIII of the ICA are now slated to come into force Jan. 1, 2010. Canadian Underwriter Print Group 8 LinkedIn LI X (Twitter) logo Facebook Print Group 8
