Topic
Legislation / Regulation
Why this broker regulator is keeping an eye on the hard market
November 8, 2019 by David GambrillOntario’s broker regulator has the current hard market conditions on its radar screen, scrutinizing what’s happening between brokers and their carrier partners through the lens of consumer fairness. Scott Bell, outgoing president of Registered Insurance Brokers of Ontario (RIBO), made…
How this statutory benefits ruling hinged on the word “the”
November 5, 2019 by Jason ContantSaskatchewan’s highest court has ruled in favour of the province’s government auto insurer in a case involving statutory death benefits paid collectively to three dependant children. The Court of Appeal for Saskatchewan’s ruling in Johnson v Saskatchewan Government Insurance, released…
The ‘interpretative stumbling block’ in figuring out whether off-road vehicle accidents are insured
October 31, 2019 by Greg MeckbachConfused about whether Ontario accident benefits applies if your client has an out-of-province accident involving a dirt bike or all-terrain vehicle? The Court of Appeal for Ontario tried to address this confusion in Benson v. Belair Insurance Company. If an…
Why ‘salesperson’ will no longer be defined in this insurance law
October 31, 2019 by Greg MeckbachThe Ontario government plans to make several changes to the Insurance Act, including the removal of the definition of “salesperson” from the law. Legislation was tabled Monday by Prabmeet Singh Sarkaria, the associate minister of small business and red tape…
Edmonton window washing accident amid high winds under investigation
October 31, 2019 THE CANADIAN PRESSEDMONTON – The City of Edmonton says it’s investigating a window-washing company that was working on the capital’s tallest tower last week in windy conditions when a suspended platform smashed into the building and threw a worker over a railing.…
OSFI, industry step back from the brink on proposed new reinsurance rules
October 29, 2019 by David GambrillIt appears that there has been a proverbial “last-minute call from the governor” regarding controversial new rules proposed by Canada’s solvency regulator as part of its reinsurance review. The Office of the Superintendent of Financial Institutions (OSFI) has made it…
How Trump’s ethical follies can benefit Canada’s P&C industry
October 29, 2019 by David GambrillAll the talk in the White House these days about “whistleblowers” and “no quid pro quo” echoed in the discussions about ethics last Thursday between Canadian insurers and their brokers at the 2019 Insurance Brokers Association of Ontario (IBAO) Convention.…
What stops this insurer from measuring effectiveness of winter tires
October 29, 2019 by Greg MeckbachMore than half a million Manitoba motorists are taking advantage of a winter tire financing program, but the jury is still out on whether the program has reduced accident frequency or severity. There are about 580,000 registered passenger vehicles in…
How Intact is changing usage-based auto insurance in one province
October 21, 2019 by Greg MeckbachIntact Insurance is making some key changes to its usage-based insurance (UBI) product for motorists in Nova Scotia. Essentially, the company is requiring continual monitoring of an insured’s driving behaviour rather than having the same discount apply until the end…
$6,000 fine over how brokerage held itself out to the public
October 11, 2019 by David GambrillA brokerage in Manitoba has been fined $6,000 after a complaint to the regulator that representatives of the brokerage’s sub-agency were holding themselves out to the public under a trade name for which they were not licensed to do business.…
This regulator’s new approach to innovation
October 11, 2019 by Jason ContantOntario’s new financial regulator wants to encourage innovation by allowing new product or distribution ideas on a trial basis. “Because if you don’t allow people to iterate… then it’s easier for them not to come in,” Mark White, CEO of…
The number of Ontarians who drive stoned (hint: lots)
October 10, 2019 by Greg MeckbachHundreds of thousands of Ontarians have driven a vehicle while very high on cannabis, poll results released Wednesday by CAA South Central Ontario imply. One in five Ontario drivers surveyed, aged 19 through 70, are cannabis users, CAA SCO said…