Legislative Proposal, Bill or Resolution

• Formerly known as Bill C-29, An Act to amend the Personal Information Protection and Electronic Documents Act PIPEDA. Issues of interest are breach notification, litigation privileges, witness statements, definition of work product, investigative bodies, and consent on behalf of family member. (Industry Canada)
• Tax File - variety of issues related to the application of GST to the P&C insurance and insurance related services

Policies or Program

• Climate Change Adaptation -- national infrastructure and natural disaster mitigation strategy; (Natural Resources Canada, Infrastructure Canada, Transport Canada), with respect to the development of a risk assessment tool by Natural Resources Canada to help municipalities determine infrastructure that may be at risk due to age or inadequate size; with respect to the Infrastructure Stimulus Fund, requesting that attention be given to sewer and waste water renewal projects to help Canadian homes, businesses and communities adapt to climate change. This will assist Canadian insurers by providing a more stable claims environment on the issues of natural disasters in general, and water losses in particular.
• Flood issues - mapping, municipal risk assessment tool (MRAT) and
• IDF Regional Curves: proper modeling for future climate scenarios; up-to-date and reliable weather observation information
• Lobbying for the establishment of a National Injury Prevention Strategy, which would pertain to effective surveillance systems, scans of international policy, reviews of domestic policies and practices, and identifying opportunities for action. (Health Canada.)
• National Coordination of provincial stolen and wrecked vehicle programs. (Transport Canada), with regard to allowing the exchange of information in order to prevent the fraudulent "re-VINing" of vehicles. This refers to the practice of changing the Vehicle Information Number (VIN) on a stolen or wrecked vehicle, thus facilitating its fraudulent re-sale.
• OSFI Guidelines E6. OSFI Corporate Governance guideline
• Ports projects regarding staff at all major Canadian ports to identify containers for inspection to recover stolen vehicles meant for export; (Public Safety Canada, Canada Border Services Agency)
• Raise awareness of the necessity for the federal government to be better prepared in the event of a major earthquake
• Short Term Credit Insurance (International Trade Canada, Export Development Corporation (EDC)), pertaining to the sale of short term credit insurance by EDC in competition with private insurers.
• correct measure of auto insurance premiums for purposes of calculation of CPI; (Statistics Canada), with respect to fixing measurement issues inherent with the current Consumer Price Index, ensuring that actual automobile insurance prices are being reflected in the CPI.
• interpretation of private sector earthquake models; (OSFI), with regard to revising OSFI Guideline B9. These models are designed to assist insurers in preparing for an earthquake in a major Canadian urban centre.

Policies or Program, Regulation

• Changes to the Minimum Capital Test (MCT) and solvency regulations. (OSFI) An Advisory Committee has been formed composed of OSFI, Provincial regulators, the Property and Casualty Insurance Compensation Corporation (PACICC), the Canadian Institute of Actuaries, and Insurance Bureau of Canada. This Advisory Committee is providing recommendations to OSFI, with the goal of allowing companies to use internal capital models for solvency risk by 2014-15.

Regulation

• Implications of International Financial Reporting Standards (IFRS) adoption on Canada's solvency regime (OSFI). All federally regulated entities (FREs) are required by OSFI to implement IFRSs for their fiscal year commencing in 2011. (OSFI Draft Advisory issued October 2009.) IBC will be consulting with OSFI on their requirements for the implementation of IFRSs for federally regulated financial services institutions, which includes property and casualty insurance companies.
• Regulation of Low Speed Vehicles (Transport Canada), with respect to ensuring that Canadian Safety Standards are applied to all low speed vehicles before approving these vehicles to operate in mixed traffic.