Topic
Legislation / Regulation
Calculated Risk
July 3, 2016 Kristy Carscallen, Canadian Managing Partner, Audit, KPMG in CanadaAudit committees need to remain “up to speed” as disruption sparks the next generation of corporate risks. There is a definite need to understand and act on a widening universe of strategic, financial, business, operational and reputational risks.
Aviva Canada, Pembridge Insurance offer personal coverage for ridesharing drivers in Alberta
July 2, 2016 by Canadian UnderwriterAviva Canada and Pembridge Insurance have become the latest insurance companies to offer personal coverage for ridesharing drivers in Alberta. On Tuesday, the government of Alberta announced a new insurance policy for transportation network companies (TNCs) licensed in the province.…
New law allows La Capitale Financial to apply to be regulated by Quebec
July 1, 2016 by Canadian UnderwriterThe federal government recently passed a law allowing La Capitale Financial Security Insurance Company to apply to be regulated under the laws of Quebec. Bill S-1001 – which was signed into law June 17 – is “a private bill requested…
Up in the Air
July 1, 2016 Lisha Li, Associate, Blake, Cassels & Graydon LLPThe December 31, 2015 deadline and the six-month extension for the federal government to provide war risk indemnity under the Aviation War Risk Liability Program, meant to provide war risk indemnity to the Canadian air industry, has
passed. All Canadian air carriers and aircraft operators need to obtain war risk coverage on the commercial insurance market if required under leases and/or financing documents.
Alberta’s new insurance policy for TNCs a first for a Canadian province, policy available July 1
June 30, 2016 by Canadian UnderwriterA new insurance policy for transportation network companies (TNCs) is available to insurance firms licensed in Alberta as of July 1, in line with the provincial government’s recently announced TNC framework geared at promoting fairness and road safety. The insurance…
Road safety at heart of Ontario move to introduce mandatory, entry-level Training for Class A Truck Drivers
June 29, 2016 by Canadian UnderwriterThe Ontario Trucking Association (OTA) has welcomed the announcement by transportation minister Steven Del Duca that mandatory, entry-level training will be adopted for new tractor-trailer drivers. Del Duca said Wednesday all new commercial Class A truck drivers will need to…
Canadian politicians agree in principle to increase employers’ Canada Pension Plan contributions
June 27, 2016 by Canadian UnderwriterLess than a month after Ontario passed a law mandating participation for some employees in a province-sponsored pension plan, most of Canada’s premiers signed an agreement in principle, with the federal government, to increase contributions to the Canada Pension Plan.…
Cyber security enters U.S. manufacturers’ Top 10 risks: BDO
June 22, 2016 by Canadian UnderwriterCyber security now ranks among the Top 10 risk factors of manufacturers south of the border, notes a report issued Tuesday by accounting and consulting organization BDO USA, LLP. The lion’s share of manufacturers in the United States analyzed in…
U.S. executives struggling to measure and mitigate strategic risks: survey
June 21, 2016 by Canadian UnderwriterNearly two-thirds (64%) of executives in the United States see strategic risk as a “highly significant threat” to their organizations compared to other types of risk – including compliance, operational and financial – according to a new survey from independent…
New Ontario financial services regulator should have anti-fraud authority: Panel
June 20, 2016 by Canadian UnderwriterThe Ontario government should establish a new organization that would perform the functions currently performed by the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation of Ontario (DICO) but also have a “specific fraud-deterrence mandate,” an expert…
Quebec’s financial services regulator creates fintech working group
June 16, 2016 by Canadian UnderwriterThe Autorité des marchés financiers (AMF), Quebec’s financial services regulator, has announced the creation of a financial technology (fintech) working group whose primary mandate is to analyze technological innovations in the sector and anticipate regulatory and consumer protection issues. “The…
Only 10% of Ontario drivers report being “very knowledgeable” about elements of a standard auto insurance policy: FSCO-commissioned survey
June 15, 2016 by Canadian UnderwriterOnly 10% of Ontario’s nearly 10 million drivers report that they are “very knowledgeable” about the elements in a standard auto insurance policy, according to a recent survey commissioned by the Financial Services Commission of Ontario (FSCO). The survey, released…