Topic
Legislation / Regulation
Here’s the timeline for converting RSA policies to Intact
July 30, 2021 by Greg MeckbachNova Scotia motorists with RSA insurance policies can renew through RSA until November 4, the province’s auto insurance regulator said in its July 28 ruling on Intact Insurance Company’s rate filing. On June 1, Intact Financial Corp. closed its acquisition…
Why this auto insurer will stop discount for autonomous emergency braking
July 27, 2021 by Greg MeckbachNova Scotia motorists who purchase autonomous emergency braking systems will no longer qualify for a discount with one insurer as of October. In Nova Scotia, Aviva General Insurance Company has a 15% discount, to bodily injury and accident benefits insurance…
New industry anti-fraud group gets its first CEO
July 19, 2021 by Greg MeckbachTerri O’Brien, a former vice president at TD Bank, is now CEO of Équité Association, the anti-fraud organization announced Monday. Équité Association is a new organization that integrates Canadian National Insurance Crime Services (CANATICS) and the IBC’s investigative services division.…
Auto dealer penalized for use of insurer’s internet quoting system
July 16, 2021 by David GambrillAlberta’s broker regulator has issued an $8,000 civil penalty against an auto dealership, Avenue Motors Ltd., after an insurance company complained about alleged misuse of the insurer’s online quote generator by the dealership’s employees. The dealership holds a Restricted Corporate…
Threat of adverse selection prompts auto carrier to start credit checks
July 13, 2021 by Greg MeckbachNova Scotia motorists who consent to a “soft” credit check from Economical Insurance will soon be eligible to get a discount on their auto premium, the province’s regulator announced Monday. The Nova Scotia Utility and Review Board (NSURB) has already…
Looking for a quick D&O rebound after COVID? Don’t hold your breath….
July 9, 2021 by David GambrillBrokers looking to see directors’ and officers’ (D&O) insurance pricing and capacity rebound quickly after the pandemic had better not hold their breath — especially with the Canadian government now starting to pull the plug on certain COVID relief measures…
Insurer ups distracted driving from minor to major conviction
July 6, 2021 by Greg MeckbachNova Scotia motorists could be out of luck when they try to renew their auto insurance if they got caught more than once using a hand-held gizmo when they should be paying attention to the road. In a ruling posted…
Internet kills idea of an inconvenient place to defend your client: Judge
June 30, 2021 by David GambrillIn the age of Zoom, the Ontario Superior Court of Justice has essentially found that it doesn’t really matter in which jurisdiction you defend your clients in an arbitration hearing — it’s all part of the common cyber landscape now.…
These highway features may encourage distracted driving
June 25, 2021 by Greg MeckbachMedians and wide shoulders on highways could encourage distracted driving by giving drivers a false sense of security, transportation researchers suggest in a recent paper. “The combination and presence of a shoulder, median, higher speed limit, and extra lanes could…
How the feds propose to tax insurers’ deferred profits under IFRS 17
June 10, 2021 by David GambrillCanada’s finance department is looking to avoid a situation in which the new IFRS 17 accounting standards may give Canadian P&C insurers a tax advantage over other Canadian business sectors. Canadian P&C insurers are working hard to update to new…
Why Intact didn’t have to pay $10K for a claimant’s proposed medical report
May 17, 2021 by David GambrillOntario’s Licence Appeal Tribunal (LAT) has ruled that Intact Insurance is not obligated to fund a claimant’s $10,200 multidisciplinary report, the purpose of which was to dispute Intact’s decision to cease income replacement benefits after a 104-week period of entitlement.…
Inactive Alberta brokerage ordered to pay $6K for failing to remit client funds to MGA
May 14, 2021 by David GambrillAlberta-based NIB Insurance Group Ltd., now an inactive brokerage, has been ordered to pay $6,000 in civil penalties for failing to remit client premiums to an MGA, and for selling a policy to a client while it was no longer…