Response to the Department of Finance consultation - Including Insurance Charges under the Criminal Rate of Interest in the Criminal Code

The Canadian life and health insurance industry expresses concern over proposed legislative changes that would redefine "interest" in the Criminal Code to include insurance charges, arguing that the consultation period was too short to adequately assess the broad implications. They advocate for a pause in these changes to ensure that essential insurance products, which provide crucial financial protection to Canadians, are not negatively impacted.

CLHIA's Response to the Department of Finance.pdf