Procurement Summary
Country : Canada
Summary : On-0002303 - Insurance Assessment
Deadline : 13 Feb 2025
Other Information
Notice Type : Tender
TOT Ref.No.: 113360814
Document Ref. No. : BC209011
Competition : ICB
Financier : Self Financed
Purchaser Ownership : Public
Tender Value : Refer Document
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BCFSA is the market conduct regulator for all insurers writing insurance in BC and is the primary prudential regulator for B.C. incorporated insurers. Recently BCFSA imposed the requirement for insurers authorized in BC to adopt and adhere to an Insurer Code of Conduct (Code). The Code is principles based and reflects the objectives set out by International Association of Insurance Supervisors (IAIS) in its Insurance Core Principles (ICP), in particular ICP-19, and by CCIR/CISRO in its Fair Treatment of Consumer Guidance.
As part of BCFSA-s commitment to effective market conduct supervision, BCFSA has identified the need to enhance its market conduct regulatory practices and is seeking to assess and enhance our supervisory approach to more proactively address emerging market conduct risks and issues and to effectively supervise insurers adherence to the Code. BCFSA has identified a number of constraints that impact its current market conduct practices and is seeking an evaluation of its current regulatory architecture and recommendations on how to improve.
BCFSA is seeking proposals from qualified services providers to conduct a comprehensive assessment of its insurance market conduct supervisory approach, propose options for market conduct approach and develop strategic recommendation to support the desired approach. The assessment should evaluate BCFSA-s current market conduct supervisory approach and methodologies, intelligence gathering capabilities and orga...
Summary information
Notice type : Other
Language(s) : English
Procurement Mode : 2025/01/17
Closing date and time : 2025/02/13 17:00 EST
Documents
Tender Notice