Phaedra Sydor

Efforts to modernize federal privacy legislation and regulate artificial intelligence. An Act respecting cyber security, amending the Telecommunications Act and making consequential amendments to other Acts and its application to the insurance industry (C-8) Issues relating to emergency preparedness, response and recovery including a National Recovery Strategy, and the creation of a National Emergency Management Agency Expansion of the trade credit insurance market in Canada Proposed public-private partnership with the insurance industry to better protect Canadians in the event of a major earthquake. Issues relating to flooding including the creation of a low-cost high-risk National Flood Insurance program in partnership with the P&C insurance industry. Other issues include flood mapping and infrastructure investment. Developing a national approach and vehicle safety standards for the deployment of connected and automated vehicles Implementation of the National Adaptation Strategy and other issues relating to climate adaptation and including modernization of DFAA, DMAF, and infrastructure investments. Changes to the Minimum Capital Test (MCT) and solvency regulations. Changes to the reinsurance framework. Changes to other guidelines (i.e. Guidelines B10, B13, B15; Guidelines E13, E21, E23, etc.). Implementation of the national auto theft strategy and other solutions to combat the theft of vehicles in (and illegal export of vehicles from) Canada. National Coordination of provincial stolen and wrecked vehicle programs. (Transport Canada), with regard to allowing the exchange of information in order to prevent the fraudulent "re-VINing" of vehicles. This refers to the practice of changing the Vehicle Information Number (VIN) on a stolen or wrecked vehicle, thus facilitating its fraudulent re-sale. Financial sector policy and regulatory changes pursuant to the implementation of the United States-Mexico-Canada Agreement (USMCA), formerly North American Free Trade Agreement.

Climate change adaptation: Working with Federal government and other partners on climate adaptation policies, and specifically to define and build a marketplace for partnerships and private investment in infrastructure projects that support community resiliency to climate change risks.

Climate Adaptation: Implementation of the National Adaptation Strategy, advancing flood and earthquake resiliency, including the development of a national high-risk flood insurance program and a federal earthquake backstop, flood mapping, weather harden houses/changes in building codes as well as call for more public education programs on flood, wildfire, earthquakes, and other climate risks and climate-resilient approaches to planning and building. Taxation: Impacts of tax rules and regulations on Canadian insurers Infrastructure Investing: Engaging with government on regulatory and prudential considerations affecting investment in climate resilience and infrastructure, including regulations related to capital requirements. Co-op Sector: Commit resources to build capacity in the co-op sector and promote co-operatives as a sustainable and well understood business model that can have significant impact on the economy. Resilient and Low-Carbon Economy: Call upon the Government to create a framework to catalyze the deployment of private capital for climate-related capacity building and supporting a stable and reliable sustainable finance market. Support policies that catalyze a broad societal partnership to improve community resiliency. Health care: Support affordable prescription drug system for Canadians. Auto theft: Advocate for implementation of the national auto theft strategy, led by the federal government, in co-ordination with provinces and territories; empower and invest in the Canada Border Services Agency; break down informational silos through expanded sharing of intelligence and customs information; harmonize Canadian vehicle export policy with international best practices; and modernize the country’s outdated anti-theft vehicle standards.

Flood: Advancing flood resiliency, residential overland flood insurance, flood mapping, weather harden houses/changes in building codes, and more public education programs on flood risks to address risks that Canadians face. Climate change adaptation: Working with federal government and other partners on climate adaptation policies, and specifically to define and build a marketplace for partnerships and private investment in infrastructure projects that support community resiliency to climate change risks.

For the National Adaptation Strategy, we recommend that government consider the importance of consumer education, as well as incentive programs to help Canadian homeowners and business owners "climate proof" their properties. For the National Flood Insurance Program for High-Risk Properties, we recommend that government and the private sector partner on this important initiative, and that the private sector (insurers and brokers) must play an integral role in the delivery of the program. We also recommend a federal earthquake solution. The Bank Act, with respect to the separation of banking and insurance. Open Banking with respect to consumer protection issues. Cyber Security - raising awareness of cyber attacks on small businesses and proposing a program to incentivize businesses to take protective measures. Bill C-74 Budget Implementation Act, Regulations with respect to fintech entities. Auto Theft - advocating for a collaborative approach, with a range of potential solutions, including: improve and modernize anti-theft devices in vehicles; increase inspections at ports before cars are shipped overseas; bolster law enforcement resources and activities; and consider tougher penalties for these crimes.

Advocate for implementation of the federal government’s national auto theft strategy and modern solutions to combat the theft of vehicles in (and illegal export of vehicles from) Canada. Support efforts to stand up a high-risk national flood insurance program, delivered through a partnership with the insurance industry. Raise awareness of the financial impact a catastrophic earthquake could have on the Canadian economy, including Canada's P&C industry. Advocate for a partnership with the insurance industry to better protect Canadians in the event of a major earthquake, including by addressing system risk to the financial system posed by a major earthquake. Support the Department of Finance’s efforts to strengthen Canada’s financial sector. This includes advocating for the need for updates to statutory investment limits, which currently restrict insurers' flexibility to build diversified, risk-adjusted portfolios that reflect the sophistication of today's market. Communicate the importance of resilience and the need for Canada and our communities to be better prepared for extreme weather events such as flood and wildfires. Advocate for implementation of Canada’s National Adaptation Strategy, creation of publicly-accessible flood risk mapping, and emergency preparedness. Considerations concerning the Office of the Superintendent of Financial Institutions' (OSFI) implementation of International Financial Reporting Standard (IFRS) 17 Regulatory Forms and Instructions for Federally Regulated Insurers

Bill C-15 with respect to proposal to change the tax treatment on income earned by Canadian insurance companies on foreign property. Changes programs and policies to increase private sector infrastructure investment and attract foreign capital to Canada Standards for banking (open banking) and regulation of data processing including the use of artificial intelligence. Policies and programs related to Canada trade relations with other countries and Canada's economic competitiveness. Improve the Global Minimum Tax Act to promote international coordination and harmonization on timing and operation. Office of the Superintendent of Financial Institutions and the Supervision of Insurers and Banks in particular to improve the ability of Canadian companies to compete and grow outside of Canada. Insurance Companies Act and regulations to amend the Act to permit greater investment by insurers outside of the financial sector and to improve the ability of Canadian companies to compete and grow outside of Canada. Healthcare policy, specifically in relating to, employee benefits programs, including long-term disability, drug benefit plans and health data standards. Veterans Benefits including programs and policies that provide financial and other assistance to current and former members of the Canadian Armed Forces. Privacy, Human Rights and Insurance including the Privacy Act, Human Rights Act and the Canada Labour Code.

Seeking contracts with the Federal Government to provide services in support of policies and programs related to flood risk solutions, Disaster Financial Assistance Arrangements (DFAA), and earthquake risk management. Seeking contracts with the Federal Government to provide services that would support policies and programs related to climate-resilient/adaptative/mitigative infrastructure planning.