Topic
Legislation / Regulation
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…
Why this distracted driving ticket got cancelled
October 7, 2019 THE CANADIAN PRESSVANCOUVER – The son of a 71-year-old woman ticketed for distracted driving in downtown Vancouver says a $368 citation issued to his mother has been cancelled by police with an apology. Trevor Kramer says his mother, Randi, was ticketed Monday…
Province considering regulatory changes for vaping
October 3, 2019 The Canadian PressHALIFAX – Nova Scotia Premier Stephen McNeil says his government is looking at regulations that could ban flavoured vaping products in the province. McNeil responded Wednesday after the Opposition Progressive Conservatives introduced legislation aimed at addressing the growing numbers of…
Regulator reviewing the role of MGAs in the sales process
October 2, 2019 by Jason ContantWhile Ontario’s new financial regulator will not license managing general agencies (MGAs), it is taking a look at the entire sales process as part of its insurance conduct initiatives. “I don’t have the authority to do that, so I’m not…
Preventing distracted driving is a top priority for brokers
October 1, 2019 by Greg MeckbachBrokers are focused on preventing distracted driving, which is near the top of the agenda for the Insurance Brokers Association of Canada (IBAC). Kent Rowe, IBAC’s new president, told Canadian Underwriter that distracted driving is part of a nascent federal…
An emerging commercial risk with growth opportunity
September 30, 2019 by Greg MeckbachCompanies providing electric scooters and similar devices are spawning a growing market for commercial insurance, an analyst with A.M. Best Company Inc. suggests. There is no standard definition of “micro mobility” but it often refers to small “last-mile” modes of…
One way to convince regulators to relax auto rate rules
September 27, 2019 by Greg MeckbachArtificial intelligence may be able to help auto insurers convince regulators to relax certain prohibitions on rate restrictions, the founder of an A.I. vendor suggests. In Ontario, insurers are prohibited from using several factors – such as certain at-fault accidents,…
This auto rating factor could give brokers a headache
September 26, 2019 by Greg MeckbachBritish Columbia’s auto insurer has one rating factor that makes sense from an underwriting point of view, but could be onerous for brokers, an insurance defence lawyer suggests. The Insurance Corporation of British Columbia requires motorists in the province to…
What the latest distracted driving numbers from Desjardins mean
September 24, 2019 by Greg MeckbachDespite increased penalties for distracted driving, poll results released Tuesday by Canada’s second-largest auto insurer indicate even more motorists are engaging in this risky behaviour. More than half (53%) of respondents to a survey admit to having driven distracted by…
Should insurers self-regulate this field of study?
September 18, 2019 by Jason ContantInsurers should consider self-regulating machine learning practices before regulations are imposed on them, a speaker suggested last week at the Connected Insurance Canada conference in Toronto. Moderator Stephen Applebaum, principal at Insurance Solutions Group, asked panelists if regulators understand machine…
The place where insurers are seeking double-digit auto rate increases
September 10, 2019 by Greg MeckbachAuto insurers asking for double-digit increases from New Brunswick’s regulator could face some hard questions during hearings this fall. “Some of the companies have been asking for a big increase” and will not necessarily be approved for the increases they…
Where Intact will stop insuring dune buggies and some snowmobiles
September 9, 2019 by Greg MeckbachClients with dune buggies or with snowmobiles that carry more than two people will no longer be able to get those vehicles insured by Intact starting next year in Nova Scotia. Intact considers dune buggies as “too risky,” wrote Jennifer…