Topic
Legislation / Regulation
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…
Government of Saskatchewan introduces new privacy legislation
June 14, 2016 by Canadian UnderwriterThe Government of Saskatchewan announced on Monday that new privacy legislation is being introduced and expected to come into force in 2017. The Freedom of Information and Protection of Privacy Amendment Act, 2016 (FOIPP) and The Local Authority Freedom of…
Ontario sports concussion bill passed into law
June 13, 2016 by Canadian UnderwriterThe Ontario government is required to appoint a committee to review recommendations, on preventing head injury in sports, now that the Rowan’s Law Advisory Committee Act has been passed into law. Rowan Stringer, 17, died May 12, 2013 in an…
Soft market conditions remain largest concern for global reinsurers: survey
June 13, 2016 by Canadian UnderwriterSoft market conditions continue to be the biggest concern for the global reinsurance industry, according to Xuber’s Global Reinsurance Survey 2016, released on Friday. The second annual survey from Xuber, the commercial insurance software business of Xchanging, a CSC Company,…
Government of Newfoundland and Labrador to monitor greenhouse gas emissions for two years to help form reduction targets
June 9, 2016 by Canadian UnderwriterThe government of Newfoundland and Labrador has announced a plan for greenhouse gas (GHG) emissions reductions that involves monitoring to help form reduction targets. The Government of Newfoundland and Labrador’s Executive Council said in a press release on Tuesday that…
Autonomous vehicle sales to reach 21 million globally by 2035: IHS Automotive
June 7, 2016 by Canadian UnderwriterGlobal autonomous vehicle sales will reach nearly 21 million by 2035, a substantial increase from previous estimates, according to the latest forecast from IHS Automotive. Released on Tuesday, the forecast is a major increase from previous estimates and is influenced…
Ontario Retirement Pension Plan bill passes third reading
June 2, 2016 by Canadian UnderwriterA bill that will make it mandatory for some Ontario employers and workers to contribute towards a public pension plan passed third reading Thursday. Bill 186, Ontario Retirement Pension Plan Act (Strengthening Retirement Security for Ontarians) – was originally tabled…
Bill clarifying when Ontario trail users willingly assume all risks passes third reading
June 2, 2016 by Canadian UnderwriterA bill that would “clarify the standard of care” owed to users of trails in Ontario passed third reading Wednesday, paving the way for the legislation to receive royal assent. Bill 100, the Supporting Ontario’s Trails Act, was the subject…