Chair, if I can, what is the necessity for this?
To our witnesses, why would the minister be given this power to designate? It says, “in the opinion of the Minister, is qualified”. Is this just simply saying that not all insurance companies will be qualified, or does it allow the minister to go beyond traditional insurance companies to allow this to be the insurer? It says, “The Minister may designate as an approved insurer any insurer or association of insurers that, in the opinion of the Minister, is qualified”. Why give the minister this power? Is there not an industry standard as to who can insure these types of programs?