CCIR seeks input for new strategic plan

The Canadian Council of Insurance Regulators (CCIR) is seeking stakeholder feedback as it develops a new strategic plan that takes into account the changing regulatory environment resulting from the financial crisis.
At the same time, CCIR has decided to review its mandate and determine where it has been most effective. The strategic plan, effective Apr. 1, 2010, will take into account the results of this review.
The council is asking stakeholders to provide input on the following:
•    What are the challenges facing the insurance industry?
•    How can regulators and industry work together to address the challenges?
•    What specific initiatives should CCIR continue or undertake over the next three years?
•    In what areas has the CCIR been, and can continue to be, most effective?
•    How can industry meetings with CCIR be made more effective going forward?
Danielle Boulet, chair of the CCIR, referred to the initiative in a speech delivered at the Insurance Bureau of Canada’s Regulatory Affairs Symposium on Nov. 3, 2009. The initiative is comparable to the so-called ‘Walker Review’ in the United Kingdom, she said in her speech.
In February 2009, the U.K. prime minister asked Sir David Walker, a former regulatory chair, to review corporate governance in U.K. banks in light of the global recession and credit crisis.
The deadline to submit feedback is Feb. 19, 2010. Input and can be submitted by email to ccir-ccrra@fsco.gov.on.ca or by mail to:
Danielle Boulet
Chair
5160 Yonge Street, P.O. Box 85
Toronto, Ont.
M2N 6L9