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Insurance Act

News InsuranceLegislation / Regulation

Outdated laws disallow insurers from offering digital insurance solutions: IBC

February 13, 2018 by Jason Contant

Ontario’s Insurance Act and its regulations prevent insurers from doing business and communicating with their customers through digital or mobile platforms, the Insurance Bureau of Canada (IBC) noted on Monday. Canadian Underwriter asked IBC about some of the red tape

News InsuranceLegalMarkets / Coverages

Tribunal decision imperils limitation periods in auto claims

January 30, 2018 by Jason Contant

The Insurance Act is just one act to consider among all the other factors when dealing with the two-year limitation period in statutory accident benefits disputes, the Ontario Licence Appeal Tribunal (LAT) has found. “So that’s frightening,” Philippa Samworth, a

News InsuranceLegalLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Insurer can dispute conviction of driving without insurance in accident benefits priority dispute

August 24, 2017 by Canadian Underwriter

Federated Insurance Company of Canada is allowed to bring forth arguments – in an Ontario auto accident benefits priority dispute with Intact Insurance Company – that a motorist convicted of driving without insurance was nevertheless insured by Intact, now that the Supreme Court of Canada has denied Intact leave to appeal.
Court records indicate that in early 2010, Patrick Cadieux had his vehicle insured by Intact. But his premium payment for February, 2010 was returned due to non-sufficient funds, Justice James Diamond of the Ontario Superior Court of Justice noted…

News InsuranceLegalMergers and Aqcuisitions

Ontario auto accident benefits priority dispute, involving driver convicted of having no insurance, could reach Supreme Court of Canada

August 22, 2017 by Canadian Underwriter

Can an Ontario auto insurer, in a priority dispute over which insurer should be responsible for paying a claimant accident benefits, be able to argue that a motorist convicted of driving without insurance was in fact insured by the insurer

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Vehicle and equipment dealerships in Alberta authorized to sell gap insurance

June 12, 2017 by Canadian Underwriter

The Alberta Insurance Council (AIC) has announced that its General Insurance Council (GIC) has approved the issuance of a restricted certificate of authority authorizing both vehicle and equipment dealerships to sell gap insurance. Gap insurance is property insurance that covers

News InsuranceLegislation / Regulation

IBC board recommends Ontario, Atlantic Canada members voluntarily align home policies to protect innocent co-insureds

May 16, 2017 by Canadian Underwriter

The Insurance Bureau of Canada’s (IBC) board of directors is recommending that IBC’s members operating in Ontario and the Atlantic provinces voluntarily align their home insurance policies with other jurisdictions when it comes to protecting “innocent co-insureds.” Current legislation in

News InsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

Non-approved Ontario auto forms do not always render insurance contracts void: Court of Appeal

May 10, 2017 by Canadian Underwriter

If an Ontario auto insurer uses a form that is not approved by the province’s Superintendent of Financial Services, this does not necessarily render the contract of insurance void, the province’s appeal court suggested in a ruling released Wednesday. On

News InsuranceLegislation / Regulation

PACICC to participate in federal government’s review of insolvency legislation next year

April 18, 2017 Jason Contant, Online Editor

The Property and Casualty Insurance Compensation Corporation (PACICC) will participate in the federal government’s review of financial sector regulations next year, including the examination of an act that has not “really been reviewed” in more than a century. The Winding-up

News InsuranceLegislation / RegulationMergers and Aqcuisitions

New Ontario financial authority should monitor auto insurers with ‘unusual number’ of LAT appeals: Marshall

April 12, 2017 by Canadian Underwriter

Neither the behaviour of personal injury lawyers nor “excess profits” of insurers are to blame for high auto premiums in Ontario, but the government should consider restricting lawyers’ contingency fees, a special advisor to the provincial government suggested in a

News InsuranceLegalTechnology

Unlicensed entity selling false proof of auto insurance: FSCO

April 5, 2017 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) has issued a warning to consumers that an organization known as Switzerland Imperial Bank AG, or S I B AG Corporation, is not licensed to conduct insurance business in Ontario. “Switzerland Imperial Bank

News InsuranceLegalLegislation / RegulationMergers and Aqcuisitions

Supreme Court of Canada bars lawsuits against hospital, police by auto accident victims compensated by SAAQ

March 27, 2017 by Canadian Underwriter

An auto accident victim who is compensated by Quebec’s public automobile insurance plan cannot sue a third party for an “aggravated” or “separate” aspect of the injury, provided there is a “plausible, logical and sufficiently close link” between the accident

News InsuranceLegislation / Regulation

Government of Manitoba announces legislation to reduce red tape imposed on businesses, industry and local governments

March 20, 2017 by Canadian Underwriter

The Government of Manitoba has announced proposed legislation that would reduce outdated, contradictory, complicated or ineffective regulatory requirements imposed on businesses, industry and local governments, provincial Finance Minister Cameron Friesen said last week. Friesen said in a statement that the