Finally, Mr. Chairman, we would like to make a very technical suggestion regarding the mandatory five-year review of the act. Based on recent experience, the industry believes that it would be beneficial to all involved if section 29 of PIPEDA was amended to set the start of each review five years from the end of the last review period, as opposed to every five calendar years. This would ensure that the review process is duly finished before the next one is set to begin. It would just clarify things in some ways.
In summary, Mr. Chairman, the life and health insurance industry has had experience with PIPEDA for over a dozen years now, and we find that generally the current model continues to be effective and workable. That being said, your review of PIPEDA will afford the committee the opportunity to consider areas in which some targeted adjustments may be appropriate.
The industry appreciates this opportunity to participate in the committee's review of PIPEDA. We would be pleased to answer any questions you may have.
Thank you very much.