Canadian Underwriter

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Legislation / Regulation

News ClaimsClaims CanadaCommercial LinesInsuranceLegalLegislation / Regulation

Why insurance regulators’ council wants to stop best-terms pricing

December 3, 2021 by Greg Meckbach

If you are still placing subscription policies using best-terms pricing, you should stop, the Canadian Council of Insurance regulators suggests. “Fair and transparent pricing is essential to a successful marketplace and CCIR Members expect insurers and brokers to cease BTP

News Earnings / RatingsInsuranceLegislation / Regulation

How this insurer is calculating rates for Gender X auto clients

November 29, 2021 by Greg Meckbach

Starting Wednesday, The Dominion of Canada General Insurance Company will start applying the female rates to Nova Scotia auto clients who identify as Gender X. In a ruling released Nov. 19, the Nova Scotia Utility and Review Board approved The

News ClaimsInsuranceLegalLegislation / Regulation

Canada’s insurers could face higher costs from distracted driving

November 26, 2021 Canadian Underwriter Staff

Costs to Canadian insurance companies from accidents and injuries caused by distracted driving could reach $159 million by 2030, according to an analysis from financial products comparison site Hellosafe.ca. The analysis explored two scenarios, an optimistic 2% annual increase in

Economical demutualization
News InsuranceLegalLegislation / Regulation

Economical demutualization complete, IPO raises $1.6 billion

November 24, 2021 by Greg Meckbach

Economical Insurance announced Tuesday it has completed its demutualization, the first property and casualty insurer in Canada to do so. Economical’s corporate parent, Definity Financial Corp., said Tuesday it has raised “aggregate gross proceeds” of about $1.6 billion in an

News InsuranceLegislation / Regulation

Two examples of good ‘social’ practices under ESG

November 22, 2021 by Greg Meckbach

Having clear policy wording is one component of the “social” part of environmental-social-governance (ESG) practices, suggests senior official with Canada’s financial services regulator. “It’s increasingly clear that insurers need to focus on policy wording to avoid adverse court decisions as

News ClaimsClaims CanadaEmploymentInsuranceLegislation / RegulationRisk

What OSFI’s insurance head says about return-to-work

November 19, 2021 by Greg Meckbach

Staff retention, professional development and the risk of worker isolation are among the factors the industry needs to think about when deciding on an approach to working remote or in the office. “As the pandemic eases and restrictions are lifted,

News ClaimsClaims CanadaInsuranceLegalLegislation / Regulation

Supreme Court of Canada rules against BC trial lawyers in disputed subrogated Ontario auto claim

November 18, 2021 by Greg Meckbach

If the Trial Lawyers Association of British Columbia had its way, auto insurers would have an incentive to go the “extra mile” in trying to find reasons to deny claims, two Supreme Court of Canada judges suggested in a decision

News ClaimsClaims CanadaCommercial LinesInsuranceLegalLegislation / Regulation

How Ontario direct compensation-property damage affects temporary loaner vehicles

November 17, 2021 by Greg Meckbach

An Ontario insurer that wrote optional collision coverage for a client is not on the hook for damage to a loaner vehicle borrowed by that client while that client’s own vehicle was in for repair, a judge wrote in a

News ClaimsClaims CanadaInsuranceLegislation / Regulation

What FSRA says about the ‘take all comers’ auto insurance rule

November 16, 2021 by Greg Meckbach

Ontario’s auto insurance regulator is taking aim at insurers who avoid issuing auto policies to people living in certain cities or who did not buy a property polices or are otherwise off-side the “take all comers” rule. The Financial Services

News AdjustersClaimsClaims CanadaInsuranceLegalLegislation / Regulation

Court rules Ontario auto insurer’s request for claimant data ‘unnecessarily invasive’

November 8, 2021 by Greg Meckbach

An Ontario judge has turned down a request by Aviva Insurance Company of Canada to order a claimant to produce banking records showing the location of vendors from which that claimant had made purchases. In November, 2020, an Aviva auto

News BrokersCommercial LinesEmploymentLegislation / RegulationRisk

Get your brokers back to the office: BFL CEO

November 4, 2021 by Greg Meckbach

Barry Lorenzetti is encouraging you to get your brokers back to the office and if you disagree, don’t hesitate to contact him for a public debate. “It’s not as if COVID is going away and we will shut off COVID

News ClaimsClaims CanadaEmploymentInsuranceLegalLegislation / Regulation

Ontario auto claim reduces employment insurance sickness benefits: federal judge

October 20, 2021 by Greg Meckbach

An Ontario auto claimant is facing a reduction in federal employment insurance (EI) benefits because she was getting income replacement benefits with her auto insurer. In 2019, Antonina Sennikova was involved in a motor vehicle accident that prevented her from