📋 Tender Overview
The Government of Saskatchewan will be proclaiming The Insurance Act on January 1 2020.The new Act modernizes legislation allowing Saskatchewans marketplace to deal with new and emerging issues in the rapidly changing insurance industry.These changes better reflect what is going on in the industry Justice Minister and Attorney General Don Morgan said. We had extensive consultations with industry associations insurers and agents and have developed legislation that is flexible and modern and enhances consumer protection.The new Saskatchewan insurance legislationincorporates new licensing and supervision requirementsintroduces separate licensing categories for managing general agents and third party administratorsexpands the restricted insurance agents licensing regime to permit the sale of insurance together with the sale of certain products or services e.g. car rental companies or insurance for portable electronic goodsoutlines market conduct standards introduces new fair practice provisions and identifies unfair practices in order to protect consumersdescribes new complaint handling provisions including a requirement to let consumers know about where they can take complaints and disputes such as to an ombudservice or the Superintendent andmoves toward further harmonization with other Canadian jurisdictions primarily Alberta.
