Canada’s insurance regulators aim for agility in 3-year strategic plan

The Canadian Council of Insurance Regulators (CCIR) has released its strategic plan for 2026-29, “narrowing” its focus on three key priorities to ensure regulatory oversight remains consistent, agile and effective amid rapid changes affecting the economy, industry and consumers.

The umbrella group of regulators said the plan places a greater focus on the group’s core regulatory role, laying out three main priorities: identify, monitor and respond to key risks and issues; promote alignment of regulatory expectations; and enhance CCIR governance to improve efficiency and effectiveness.

In a release, the association noted the need for regulators to stay agile in an environment marked by economic volatility, technological innovation, rising climate-related risks and increasing consumer expectations.

“Effective insurance regulation plays an important role in protecting Canadians and supporting a strong and resilient Canada, particularly in an environment marked by heightened geopolitical tensions, economic uncertainty, and evolving systemic risks, which calls for a careful, measured, and forward-looking regulatory approach,” said Patrick Déry, chair of CCIR. “This strategic plan reflects a deliberate focus on core regulatory activities and strong partnerships, ensuring regulators are well positioned to address emerging risks and support confidence in the insurance marketplace.”

In previous iterations of the plan, the association has already made progress on cooperative supervision, enhanced shared data and reporting tools, clarified regulatory expectations, and deepened engagement with domestic and international partners, Déry said.

“These efforts have supported a more consistent, outcomes-focused regulatory approach, helping to protect Canadians and promote confidence in the insurance system.”

It also cited its collaboration with Canadian Insurance Services Regulatory Organizations (CISRO), which oversees insurance intermediaries, as key to its progress.

The association said it would continue to enhance shared tools, such as the annual statement on market conduct, which collects national data on the marketplace and insurers’ practices, providing insights on supervision and emerging risks. It also said it maintains its commitment to promoting regulatory harmonization across Canada.

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