Topic
Legislation / Regulation
Briefing Note: Newfoundland and Labrador
July 12, 2020 Canadian Underwriter StaffCanada’s most easterly province had a tough start to 2020, says Kelly Hickman, president of South Coast Insurance in St. John’s. The province’s brokers have been working through a tough commercial market. They’re seeing “tighter underwriting restrictions, and less capacity,”…
Broker fined $2K for obtaining premium relief for a client while unlicenced
July 10, 2020 by David GambrillA Manitoba broker was recently fined $2,000 after obtaining premium relief for a client within hours of being told by the regulator that he was unlicensed to act as a broker. On Dec. 19, 2018, Darcy Dion Boguski completed the…
Auto insurers, province dispute whether B.C.’s Bill 11 limits competition
July 9, 2020 by David GambrillThe Insurance Bureau of Canada (IBC) has published an open letter to British Columbia Premier John Horgan, outlining concerns that the province’s Bill 11 may “stifle the limited competition that currently exists in BC’s optional auto insurance market,” a claim…
Briefing Note: Ontario
July 6, 2020 Canadian Underwriter StaffAuto reform has been the province’s biggest concern over the past year, says Colin Simpson, CEO of the Insurance Brokers Association of Ontario. “Inflation on physical damage has been reported to be about 6% to 7% a year,” he says.…
B.C. proposes ‘first step’ amendments to laws governing condo insurance
June 23, 2020 THE CANADIAN PRESSVICTORIA – The B.C. government says proposed legislation it has introduced takes first steps to address concerns about sky-high costs and availability of insurance for condominiums and other shared properties. Housing Minister Selina Robinson says the legislation proposes to amend…
How long it’s taking now to approve Ontario auto rate filings
June 18, 2020 by Greg MeckbachThe average Ontario auto insurance filing now takes less than two weeks to get approved, the provincial regulator told Canadian Underwriter. The Financial Services Regulatory Authority announced this past October a “file and use” system for private passenger auto. For…
Ontario to introduce commercial eviction ban bill, retroactive to May 1
June 18, 2020 THE CANADIAN PRESSTORONTO – Ontario is introducing legislation today to temporarily ban commercial evictions. The government says it will protect commercial tenants from being locked out or having their assets seized due to the negative impacts of COVID-19. It would be retroactive…
Are you sure you are not violating Ontario’s ‘take all comers’ auto rule?
June 15, 2020 by Greg MeckbachIf you fail to renew a client’s Ontario auto policy, even if that client missed a payment, you could attract close scrutiny from the provincial regulator. Ontario law prohibits insurers from declining to issue, terminating, or refusing to renew an…
Frustration grows with no apparent end in sight for Canada U.S. border ban
June 15, 2020 James McCarten - THE CANADIAN PRESSWASHINGTON – The intertwined economies of Canada and the United States demand a more sophisticated solution to the threat of COVID-19 than a simple ban on non-essential travel, say business groups chafing at the prospect of another six weeks of…
Why Ontario auto liability coverage should get cheaper
June 9, 2020 by Greg MeckbachOntario auto insurers may have a hard time raising rates as much as they were before May 15; a major factor could be a controversial change to the dispute resolution process that took effect four years ago. New loss trend…
Alberta drivers push back against no-fault
June 9, 2020 by Adam MalikAlbertans would rather stick with its at-fault auto insurance system than switch to a no-fault program, according to a new survey. More than six in 10 Albertans (61%) surveyed told Nanos Research that they prefer at-fault over the no-fault system.…
A provincial twist on the emergency suspension of limitation periods
June 4, 2020 by David GambrillWhile many Canadian courts continue to suspend two-year limitation periods for plaintiffs to file civil lawsuits against insurers and other defendants, Alberta’s clock has started running again as of June 1 – and for claims under the province’s Insurance Act,…