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ARTICLE · 02 FEBRUARY 2023

2022 Year In Review In Insurance

McCarthy Tétrault
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As anticipated in our 2021 Year in Review, there were several developments in the regulation of the insurance sector in Canada in 2022. This article provides...

CanadaInsurance
Hartley Lefton
Hartley Lefton
Nancy J Carroll
Nancy J Carroll
Daanish Pasricha
Daanish Pasricha
Christopher Yam
Christopher Yam
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As anticipated in our 2021 Year in Review, there were several developments in the regulation of the insurance sector in Canada in 2022. This article provides a recap of some of the substantial changes that were made to the regulation of insurers and insurance intermediaries in Canada in 2022 and will highlight issues that insurers and other industry participants should watch for in 2023.

1. REGULATORY CHANGES

a. Alberta's Bill 16 Comes Into Force With a Goal of Increasing Alberta's Insurance Capacity and Launching an Alberta Captive Insurance Market

On May 31, 2022, Alberta's Bill 16, the Insurance Amendment Act, 2022 (the "Act") came into force, making amendments to Alberta's Insurance Act and the Captive Insurance Companies Act.

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