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Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

Issue 13 - Minutes of Proceedings

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OTTAWA, Thursday, May 10, 2001
(15)

[English]

The Standing Committee on Banking, Trade and commerce met at 11:00 a.m. this day, in Room 505, Victoria Building, the Chairman, the Honourable Senator E. Leo Kolber, presiding.

Members of the committee present: The Honourable Senators Angus, Finestone, P.C., Fitzpatrick, Furey, Kelleher, P.C., Kolber, Kroft, Meighen, Oliver, Poulin, Setlakwe, and Tkachuk (12).

In attendance: Mr. Stephen L. Harris, and from the Parliamentary Research Branch, Library of Parliament, Economic Division: Mr. Alexandre Laurin, Research Officer and Mr. Marion Wrobel, Senior Analyst.

Also in attendance: The official reporters of the Senate.

WITNESSES:

From the Canadian Life and Health Insurance Association (CLHIA):

Claude Garcia, Chairman CLHIA and President, Canadian Operations, Standard Life Assurance Company;

Mark Daniels, President, CLHIA;

J.-P. Bernier, Vice-President and General Counsel, CLHIA.

From the Insurance Consumers Group:

Bill Podmore, President.

From the Insurance Bureau of Canada:

George Anderson, President and CEO;

Paul Kovacs, Senior Vice-President of Policy Development and Chief Economist;

Suzanne Sabourin, Executive Director, Government Relations.

From the Canadian Banking Ombudsman :

Dr. Peggy-Anne Brown, Chair;

R. Michael Lauber, FCA, Ombudsman and Chief Executive Officer.

Pursuant to the Order of Reference adopted by the Senate on Wednesday, April 25, 2001, the Committee continued its examination of Bill C-8, to establish the Financial Consumer Agency of Canada and to amend certain Acts in relation to financial institutions.

Mr. Garcia made a statement and with the other witnesses of the Canadian Life and Health Insurance Association (CLHIA) answered questions.

Mr. Podmore of the Insurance Consumers Group made a statement.

Mr. Anderson made a statement and with the other witnesses from the Insurance Bureau of Canada answered questions.

Ms Brown and Mr. Lauber of the Canadian Banking Ombudsman made a statement and answered questions.

At 12:45 p.m., the committee adjourned to the call of the Chair.

ATTEST:

Denis Robert

Clerk of the Committee

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