Topic
Legislation / Regulation
With the pandemic abated, OSFI restarts work on IFRS 17
August 17, 2020 by David GambrillThree things in life are inevitable — death, taxes, and the transition to IFRS 17. With the country now over what appears to be the worst of the COVID-19 pandemic thus far, Canada’s solvency regulator, the Office of the Superintendent…
Retiring CAMIC president reflects on the mutuals’ biggest issues over three decades
August 14, 2020 by Jason ContantAfter nearly three decades as the head of Canada’s national mutual insurance association, Normand Lafreniere, who announced his retirement recently, talked to Canadian Underwriter about his work on three major files — income tax reductions, demutualization, and limiting banks’ and…
This insurer is allowing some COVID-19 support measures to expire
August 10, 2020 by Jason ContantThe Insurance Corporation of British Columbia (ICBC) announced Friday that three of the temporary measures it introduced in response to the COVID-19 pandemic are set to expire in the coming weeks. The B.C. Utilities Commission had approved ICBC implementing the…
Balancing Act
August 8, 2020 CIP SocietyWhat happens when an agreement is breached due to COVID-19? Experts share their thoughts
Pipeline owner fined for unsafe incident near GO tracks in Greater Toronto
July 29, 2020 THE CANADIAN PRESSCALGARY – The Canada Energy Regulator is fining Trans-Northern Pipelines $40,000 for an incident near a commuter train line in Greater Toronto that resulted in damage to a pipeline transporting gasoline. It says the incident near Oakville could potentially have…
What road tests and bookings may look like during the pandemic
July 23, 2020 by David GambrillB.C.’s public insurer is starting to re-book road tests that were interrupted by the pandemic, prioritizing drivers whose Class 5 and 7 road tests were cancelled between Mar. 17 and June 26, 2020. The insurer is reaching out to Class…
What happened to the ex-broker who claimed he was a CE instructor, but wasn’t
July 22, 2020 by David GambrillA former broker who has vowed never to return to the insurance industry has been ordered to pay a $5,000 civil fine for claiming to be a CE instructor when he had not in fact taught the course he claimed…
Court dismisses class action against insurers for handling of HST in auto AB claims
July 17, 2020 by David GambrillOntario’s Superior Court has quashed a proposed class action lawsuit against 16 Ontario auto insurers — a dispute related to insurers deducting HST tax from accident benefits paid out to minor auto accident injury victims — because only the LAT…
How a simple office procedural error led to a fine for a broker, the nominee, and the brokerage
July 15, 2020 by David GambrillA “lack of appropriate office procedures,” in addition to a “casual” approach to handling a client file, led to a series of miscues that resulted in coverage not being bound for a married couple who reported a theft of their…
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…