February 20, 1998
(Executive Council)

The following is being distributed at the request of the Conference of Atlantic Premiers:

Atlantic Insurance Legislation Harmonization

The Industry-Consumer-Government Committee of the Atlantic Provinces Insurance Legislation Harmonization Project reports a successful working session held recently in Moncton, New Brunswick. This was the second sitting of the 20-member committee charged with advising provincial governments on a common regulatory environment for the insurance industry. At the meeting, the chair expressed appreciation on behalf of the project steering committee for the continuing participation of all sectors of the insurance industry.

The committee received a summary of broad policy issues that will require resolution before proceeding to draft legislation. Professor John Weir, project consultant, presented the list of concerns, issues and recommendations compiled from consultation meetings with consumers and industry stakeholders, and through written submissions. The exercise was intended to provoke further discussion and feedback during the policy decision stage.

The recommendations proposed by Mr. Weir were based on personal interpretation of regional and national input from stakeholders as well as his understanding of current and future trends in insurance legislation. Mr. Weir is a former Ontario Superintendent of Insurance and is a professor of law at the University of Windsor.

Superintendents in each province will review the recommendations and accept comments from committee members and other interested parties as deliberations on policy issues begin. The decisions produced during these deliberations will form the basis for developing a draft of a plain language insurance act. A draft of the plain language act is expected in the summer of 1998 at which time the committee will reconvene for further review and commentary.

Contact:

Glenn Davis, Regional Coordinator
Conference of Atlantic Premiers
P. O. Box 2044, Halifax, NS B3J 2Z1
Tel: (902) 424-7606; Fax: (902) 424-8976;
e-mail: gdavis@cmp.ca