Topic
Legislation / Regulation
Alberta drafts framework to manage cannabis legalization
October 6, 2017 by Canadian UnderwriterAlberta has become the latest province to draft framework to manage cannabis legalization ahead of the federal government’s plans in July of 2018. Albertans are invited to provide feedback on the draft framework by midnight MT on Oct. 27. A…
Late payments a ‘threat to the viability’ of small construction business: MPP
October 5, 2017 by Canadian UnderwriterSmall businesses in the construction industry face “undue risk” of not being paid in a timely manner, a member of the opposition Progressive Conservative party suggested to the Ontario legislature Tuesday. With late payments to construction contractors, “the issue is…
Brakes tapped on ridesharing in B.C. despite election promises to allow Uber
October 4, 2017 Dirk Meissner - THE CANADIAN PRESSVICTORIA – An election promise to bring ridesharing to British Columbia by the end of the year has taken a detour as the NDP government says safety of passengers and operators comes first. Transportation Minister Claire Trevena said Tuesday the…
U.S. politicians urged to ‘work quickly’ to ensure NFIP ‘sustainable for the future’
October 3, 2017 by Canadian UnderwriterA coalition of insurers and associations is urging the United States Congress to quickly reform and extend the National Flood Insurance Program, which owes billions to the U.S. government and will expire this year unless a law extending NFIP is…
Insurance industry prepared to accommodate or address technological challenges: OSFI’s Henderson
October 2, 2017 Jason Contant, Online EditorDespite the constantly changing landscape, ever since insurance has been around, the industry has “accommodated or addressed” these emerging challenges, attendees to the National Insurance Conference of Canada (NICC) heard on Monday. Neville Henderson, assistant superintendent of the insurance supervision…
Nova Scotia sets the stage for its cap and trade regime, with targets to come
October 2, 2017 Keith Doucette - THE CANADIAN PRESSHALIFAX – Nova Scotia tabled legislation Friday that sets the stage for its promised cap and trade regime, although specific details on the regulations and the effect on consumers are yet to be known. Premier Stephen McNeil’s Liberal government opted…
Time to fine-tune residential flood cover, consider high-risk areas: Enders
September 29, 2017 by Angela StelmakowichFlood-related cover for residential policyholders is far advanced from what it was when the devastating floods hit southern Alberta in 2013, but it is now time to refine those offerings and address outstanding issues, says Gord Enders, president of Direct-Line…
Global cyber premiums to increase six- to eightfold within a decade: Fitch
September 28, 2017 by Canadian UnderwriterGlobal cyber premium volume is set to increase six- to eightfold within a decade, according to a new report from Fitch Ratings. Released on Wednesday, the report Cyber Insurance – Risks and Opportunities (Global Non-Life Insurer Underwriting Exposures Examined) found…
Autonomous vehicles will require a reassessment of liability: RIMS Canada Conference speaker
September 26, 2017 Jason Contant, Online EditorAutonomous vehicle (AV) technology will require a reassessment of liability and the uncertainty surrounding liability may even slow the introduction of AV technology, a speaker suggested on Monday at the RIMS Canada Conference. Jim Kidd, project manager at the City…
Lessons of the Road
September 26, 2017 Kent Rowe, President, Insurance Brokers Association of Newfoundland and LabradorNewfoundland and Labrador is undertaking an automobile insurance review meant to chart the way forward for the province. Whatever the final destination, brokers will be along for the ride to help ensure customers are protected, regulatory changes foster a healthy and sustainable system, and consumer education is enhanced.
Intact’s acquisition of OneBeacon Insurance Group expected to close this week
September 25, 2017 by Canadian UnderwriterIntact Financial Corporation (IFC) announced on Monday that it has obtained all regulatory approvals required to complete the previously announced proposed acquisition of OneBeacon Insurance Group, Ltd. The acquisition is expected to close on or about Sept. 28, IFC said…
Federal bill aims to address ‘regulatory challenges’ of disruptive vehicle technologies
September 22, 2017 by Canadian UnderwriterLegislation under consideration by the House of Commons “would increase the flexibility” of federal law to address automated and connected technologies used in vehicles, a member of parliament suggested Wednesday. “Shifts in the global technology landscape are placing a growing…