It’s the end of the line for Travelers’ appeal of an accident benefits case involving a dirt bike driven in a closed course competition. The Supreme Court of Canada rejected the insurer’s leave to appeal Thursday. This means a dirt…
Ontario’s broker self-regulatory body is looking at its licensing exams with a stronger focus on commercial lines and MGAs, Registered Insurance Brokers of Ontario (RIBO) CEO Patrick Ballantyne said last week during an industry event. “Those exams are currently under…
Supply chain issues are creating a hot domestic market for stolen vehicles, which in 2022 cost Canadian property and casualty auto insurers more than an estimated $1 billion — the most the industry has ever paid for auto theft in…
B.C.’s broker regulator, the Insurance Council of B.C., is now consulting on a proposed new restricted licensing framework to regulate the sale of incidental insurance, the council announced in late May. The regulator’s initiative follows the province’s Bill 37, which…
Canada’s mutual insurance industry has been around for as long as the country itself and has innovated over that time. Now it’s driving digital transformation to enable new capabilities, improve service and keep pace with market competition. These changes come…
OTTAWA – The federal government says certain defence contracts will be subject to a mandatory cybersecurity certification process starting in the winter of 2024. Defence Minister Anita Anand made the announcement Wednesday morning at the Canadian Association of Defence and…
D&O lawsuits claiming boards of directors breached their climate-related fiduciary responsibilities would likely not succeed in a Canadian court if the facts are similar to those in a recent U.K. court case, lawyers suggested in a Mondaq article Wednesday. Non-profit…
A man sleeping in the back of a pickup truck when it was stolen by an uninsured driver and involved in a serious crash is entitled to auto insurance coverage, the Court of Appeal for Ontario has ruled. The Appeal…
IFRS 17 implementation has made it a lot harder to understand the material impact of an accounting change, a speaker told the Insurance Bureau of Canada’s recent Financial Affairs Symposium. “We all know the disclosures under IFRS 17 are way…
This is the first quarter insurers are reporting financial results under IFRS 17, but insurers remain focused on familiar, pre-IFRS 17 business metrics, a KPMG Canada partner said during Insurance Bureau of Canada’s (IBC) 26th Financial Affairs Symposium. “While we…
P&C insurance industry leaders called for bespoke, yet predictable, regulation at the Insurance Bureau of Canada Financial Affairs Symposium last week. When asked broadly about regulation, Celyeste Power, IBC president and CEO noted no two carriers are alike, and so…
Canada’s insurance regulators have confirmed insurers and brokers are each expected to comply with new guidance related to designing and managing sales incentive programs, even though the insurer is ultimately responsible for the fair treatment of customers for the full…