Addressing deficiencies in provincial solvency regulation compared to IAIS

sdeibertsdeibert
in KPMG.PACICC

One of the ways to solve this is to transfer solvency regulation to another province with higher standards. I see it stated in the source paper (top of page 47), but doesn't this contradict the fact that CCIR aims to make legislation uniform across all provinces? Even in the Baer paper it says provincial legislation is so uniform due to CCIR. I guess it's not perfect and there are still some differences between provinces, but I feel like these two points contradict each other a little.

Comments

  • Staff-TSStaff-TS

    Good catch on the contradiction.

    CCIR aims for uniform solvency regulation across provinces, and the Baer paper supports that. But the suggestion to transfer regulation to a stricter province implies differences still exist.

    While CCIR has made rules largely uniform, full consistency hasn’t been achieved; some provinces still enforce tougher standards. So, it’s not a direct contradiction, just a sign that gaps remain despite harmonization efforts.

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