March 20, 2017 by Canadian Underwriter
The Government of Manitoba has announced proposed legislation that would reduce outdated, contradictory, complicated or ineffective regulatory requirements imposed on businesses, industry and local governments, provincial Finance Minister Cameron Friesen said last week.
Friesen said in a statement that the Red Tape Reduction and Government Efficiency Act would amend or repeal 15 pieces of legislation to reduce the red tape that is creating burdens on business, non-profit organizations, municipalities, private citizens and government officials.
Among other changes, the proposed legislation would:
“Our government recognizes the status quo has created unnecessary challenges for both industry and government,” Friesen said in the statement. “The proposed changes were identified as priority actions by both industry leaders and the civil service. Once implemented, these changes would improve efficiency and effectiveness, making it easier for all Manitobans to prosper and focus on their priorities.”
In December 2016, the province of Ontario announced that it was launching consultations until the end of January 2017 asking businesses and the public to help identify and improve regulations that are “unclear, outdated, redundant or unnecessarily costly” for the financial services sector.
Ontario’s Red Tape Challenge is broken down into several “regulation categories,” including financial services, insurance, employment and labour, health and safety, corporate and commercial law, land use and planning, and taxation and financial reporting. The insurance category is further broken down into more than 50 sub-categories, including: auto insurance dispute resolution: assessing expenses and expenditures; automobile insurance – contract requirements; automobile insurance – statutory accident benefits schedule (before Jan. 1, 1994); Automobile Insurance Rate Stabilization Act; Compulsory Automobile Insurance Act; Insurance Act; Insurance brokers – licensing and general requirements; and reinsurance.