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On-0002303 - Insurance Assessment Tender in Canada - 113360814

The BC FINANCIAL SERVICES AUTHORITY has issued a Tender notice for the procurement of a On-0002303 - Insurance Assessment in the Canada. This Tender notice was published on 18 Jan 2025 and is scheduled to close on 13 Feb 2025, with an estimated Tender value of Refer Document. Interested bidders can access detailed Tender information, eligibility criteria, and complete bidding documents by referencing TOT Ref No. 113360814, while the tender notice number is BC209011 and Registering on the platform.

Procurement Summary

Country: Canada

Summary: On-0002303 - Insurance Assessment

Deadline: 13 Feb 2025

Posting Date: 18 Jan 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

Purchaser's Detail

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Tender Details

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

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