INSURANCE REGULATORS ADOPT IIAC RECOMMENDATIONS
On November 30, 2022, the Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) released the Incentive Management Guidance (IMG) found here.
The IMG is principle-based, providing insurers and intermediaries with discretion on the design of incentive management programs. IIAC observations and recommendations included in the IMG are: