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ARTICLE · 19 FEBRUARY 2015

Upcoming Changes To Saskatchewan Insurance Legislation

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The Saskatchewan Minister of Justice and Attorney General has introduced Bill 177 which will implement new legislation, The Insurance Act, and repeal The Saskatchewan Insurance Act.

CanadaInsurance
Carol Lyons
Carol Lyons
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Co-authored by Samantha Gordon, Student-at-Law

The Saskatchewan Minister of Justice and Attorney General has introduced Bill 177 which will implement new legislation, The Insurance Act, and repeal The Saskatchewan Insurance Act.1 Bill 177 was read by the legislative assembly of Saskatchewan for the first time on December 4, 2014. The proposed Act is very similar to Alberta's insurance legislation. If Bill 177 passes the next two readings and receives Royal Assent, it will come into force on proclamation.

The proposed Act is comprised of 11 parts: 1) Preliminary Matters; 2) Licensing of Insurers; 3) Provincial Companies; 4) Fraternal Societies; 5) Insurance Intermediaries and Insurance Councils; 6) Unsolicited Insurance, Reinsurance and Special Brokers; 7) Market Conduct; 8) Contracts of Insurance; 9) Inspections, Investigations, Enforcement and Administration; 10) General Provisions; and 11) Repeal, Consequential Amendments, Transitional and Coming into Force.

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