CCIR AND CISRO RELEASE PROPOSED GUIDANCE ON INCENTIVES MANAGEMENT
On February 17, 2022, the Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) released proposed Incentive Management Guidance setting out their expectations for insurers and intermediaries with respect to compensative and incentive structures for insurance products. The proposed guidance is intended to be principled based and addresses expectations in areas including governance, design and management of incentive arrangements, and post-sale controls.