Canada’s Modern Slavery Act

Canada has passed the Modern Slavery Act, set to take effect on January 1, 2024. The goal of the legislation is to increase transparency to prevent and reduce the risk of forced labour and child labour across supply chains. In addition to imposing new reporting obligations on Canadian businesses, the Act imposes fines on entities and individuals (including directors and officers) who fail to comply with these obligations. Learn how your clients can prepare for these new obligations and what the insurance implications are.