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Legislation / Regulation


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Oklahoma warns of more quakes from energy drilling

December 21, 2016 Tim Talley - THE ASSOCIATED PRESS

OKLAHOMA CITY – Oklahoma regulators said Tuesday that the number of induced earthquakes could increase as oil and gas production expands in a broad area of the state, and they’re telling energy companies that they need to be ready to

News Earnings / RatingsInsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsReinsurance

Europe’s insurers paid out 2.7 billion euros a day in 2015: Insurance Europe

December 20, 2016 by Canadian Underwriter

Europe’s insurers paid out a total of 975 billion euros in claims and benefits over the course of 2015, the equivalent of about 2.7 billion euros per day, according to figures released on Tuesday by Insurance Europe, the European insurance

News InsuranceLegalLegislation / RegulationMergers and AqcuisitionsTechnology

California, Uber in legal showdown over self-driving cars

December 15, 2016 Justin Pritchard and Michael Liedtke - THE ASSOCIATED PRESS

SAN FRANCISCO – Uber is riding its self-driving cars into a legal showdown with California regulators. The ride-hailing company is refusing to obey demands by the state’s Department of Motor Vehicles that it immediately stop picking up San Francisco passengers

News InsuranceLegislation / RegulationMergers and Aqcuisitions

Actual operation of fishing vessel involved in fatal B.C. accident ‘differed from the assumed loading conditions:’ Transportation Safety Board

December 15, 2016 by Canadian Underwriter

Six weeks after it warned of a “systemic problem” of “vessel modifications and their impact on stability” in the Canadian commercial fishing industry, the Transportation Safety Board of Canada found that the operating practices of one commercial fishing boat that

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Fairfax’s Newline insurer to open German office

December 14, 2016 by Canadian Underwriter

Newline Insurance Company Ltd., which is ultimately owned by Toronto-based Fairfax Financial Holdings Ltd., announced Tuesday it has received regulatory approval to open a new branch office in Cologne. Newline, which writes international casualty and cargo coverage, is part of

News Climate ChangeEarnings / RatingsInsuranceLegislation / RegulationMarkets / CoveragesProfessional DevelopmentReinsurance

Swiss Re adopts climate-related financial disclosure recommendations

December 14, 2016 by Canadian Underwriter

Swiss Re announced on Wednesday that it will adopt the climate-related financial disclosure recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). Swiss Re helped develop the voluntary guidelines on climate risk reporting and is a member of the

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

U.S. government to require cars to be able to talk to each other

December 13, 2016 Joan Lowy - THE ASSOCIATED PRESS

WASHINGTON – All new cars and light trucks would be able to talk wirelessly with each other, with traffic lights and with other roadway infrastructure under a proposal released Tuesday by the Department of Transportation. Officials say the technology holds

News CatastrophesEarnings / RatingsInsuranceLegislation / RegulationMergers and Aqcuisitions

Canadian P&C outlook stable, driven by good demand, strong underwriting discipline and solid balance sheets: Moody’s

December 13, 2016 by Canadian Underwriter

The outlook for the Canadian property and casualty (P&C) industry is stable, driven by good demand, strong underwriting discipline and solid balance sheets, Moody’s Investors Service said in a report released on Monday. However, despite the stable outlook, these trends

News Climate ChangeInsuranceLegislation / RegulationTechnology

PM hails national climate change deal, but without Saskatchewan, Manitoba

December 11, 2016 Bruce Cheadle - THE CANADIAN PRESS

OTTAWA – Prime Minister Justin Trudeau declared victory Friday in his campaign to craft a national “framework” agreement on climate change – even though Saskatchewan and Manitoba refused to sign on to the deal and British Columbia claimed a major

News Climate ChangeInsuranceLegislation / RegulationMarkets / Coverages

Sustainability in insurance gaining steam: KPMG speaker

December 9, 2016 Jason Contant, Online Editor

Although the issue of sustainability in insurance is a relatively new concept in Canada, it is one that is gaining ground throughout the world, a speaker said on Wednesday at KPMG’s 25th Annual Insurance Conference. Houston Cheng, consulting actuary and

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Insurance industry needs more focus on the long-term, OSFI’s Henderson suggests at KPMG conference

December 8, 2016 Jason Contant, Online Editor

The insurance industry as a whole needs to focus more on long-term issues, Neville Henderson, the assistant superintendent of the insurance supervision sector of the Office of the Superintendent of Financial Institutions (OSFI), suggested on Wednesday. Speaking at KPMG’s 25th

News InsuranceLegalLegislation / RegulationMergers and Aqcuisitions

Ontario court upholds 20-year driving ban for repeat impaired driver

December 6, 2016 by Canadian Underwriter

A 20-year driving ban, on an Ontario man with more than 10 drunk driving convictions, was recently upheld by the province’s Summary Conviction Appeal Court. In February, 2009, Victor Freeborn-Mejia was sentenced to six months in jail plus a 20-year