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Monday, April 22, 2019
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OC 191/2010 - The Saskatchewan Insurance Amendment Regulations, 2010 (Minister of Justice and Attorney General)

Title: The Saskatchewan Insurance Amendment Regulations, 2010

Minister: Minister of Justice and Attorney General

Summary: On September 1, 2010, these regulations will amend RRS S-26 Reg 8 to:

  • create a new restricted form of insurance licence;
  • require licencees to establish reasonable procedures to ensure that employees who are selling insurance are knowledgeable about the insurance products being sold;
  • require restricted licencees to fully disclose details surrounding incidential insurance products to applicants. This includes full disclosure of any terms and conditions of the insurance as well as they circumstances under which coverage commences or terminates;
  • prohibit restricted licencees from improperly using or releasing personal information obtained through an insurance transaction; and
  • grant the Superintendent of Insurance the power to recognize and licence new forms of incidental insurance as they arise in the future.
See: The Saskatchewan Insurance Act, section 467

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