A Medicine Hat, Alberta insurance agent has reached a settlement agreement with the Alberta Securities Commission, in which he agreed to pay $70,000 for his role in a 2009 insider trading scheme. According to the settlement agreement and undertaking, James…
Manitoba’s Court of Appeal has granted a very narrow scope to appeal a decision that found the Manitoba Public Insurance Corporation (MPIC) is not obligated to pay for an auto accident victim’s out-of-province surgical procedure in Germany. Erdman Harder was…
The Office of the Superintendent of Financial Institutions (OSFI) is reminding federally regulated property and casualty insurers that companies with earthquake exposure in British Columbia and Quebec are must file the Earthquake Exposure Data form with OSFI by Apr. 15,…
Ontario plans to update how the Financial Services Commission of Ontario (FSCO) regulates the insurance industry as part of an effort to “transform public services.” In the provincial budget tabled Mar. 27, Finance Minister Dwight Duncan said the government will…
CORRECTION: An earlier version of this story incorrectly stated the decision came from the Competition Bureau. The decision was in fact from the Competition Tribunal. Canadian Underwriter apologizes for the error. Also, the version below contains updated content, including a…
A cross-border shopper living in Ontario has been allowed to proceed with her slip-and-fall claim in the Ontario Superior Court, even though her injury occurred in a Home Depot outlet located in the United States. The defendant, Home Depot, moved…
Ontario announced new initiatives to crack down on insurance fraud in yesterday’s budget, which were welcomed by industry groups. The budget also indicates the province intends to propose administrative monetary penalties, for which the industry has advocated over the past…
B.C. Minister of Justice and Attorney General Shirley Bond and the president of the Fire Chiefs’ Association of B.C., Surrey Fire Chief Len Garis, have launched a smoke alarm campaign that includes a proposal linking annual insurance renewals to fire…
The New York Senate has passed three bills intended to help combat auto fraud. One bill creates the crimes of staging a motor vehicle accident in the first, second and third degrees. Specifically it prohibits acting as a passenger or…
Automobile dealerships in British Columbia may face more stringent educational and licensing requirements in selling “secondary automobile insurance products,” according to the Insurance Council of British Columbia. Dealerships in the province have been allowed to market secondary products, such as…
In an age of “electronic aggression” on the Internet — cyber-bullying, for example — insurers may wish to consider excluding personal injury, bodily injury or property damage from personal lines (homeowner) policies. Swiss Re held an online discussion about the…
Ontario residents understand the frequency of insurance fraud, but don’t necessarily know how to blow the whistle on perpetrators, a consumer poll by the Insurance Bureau of Canada (IBC) shows. Conducted by Pollara, the survey found 83% of Ontarians believe…