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2020 – Year In Review In Insurance - Insurance

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In 2020, there were numerous changes to regulation of the
insurance sector in Canada, both in response to COVID-19 and in
keeping with regulators long-term plans. This article provides
a recap of some of the major changes that insurance companies and
other industry participants should keep in mind in 2021.
1. REGULATORY CHANGES
Saskatchewan s New Insurance
Legislation
The Insurance Act (Saskatchewan) and its
regulations came into force on January 1, 2020. The new Act created
new licensing categories, new rules regarding fair and unfair
practices, and rules regarding self-evaluative audits. ....

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Federal Financial Institutions Legislative And Regulatory Reporter – November 2020 - Finance and Banking

November 27, 2020
The Office of the Superintendent of Financial Institutions
(OSFI) is issuing the final version of the Instruction guide for the preparation of actuarial
reports for defined benefit pension plans(The Guide). The
purpose of the Guide is to set out the reporting requirements of
actuarial reports filed with OSFI. The Guide is a comprehensive
document with the intent of facilitating the work of the actuary
and the review of actuarial reports by OSFI by including
legislative, regulatory and actuarial requirements and expectations
in one document.

November 27, 2020
In April 2020, OSFI released a formal advisory to the LICAT guideline to include a ....

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