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News AssociationsBrokersInsuranceLegislation / Regulation

Brokers, mutuals split on tactics after ministry’s controversial phone call

May 22, 2018 by David Gambrill

The Canadian Association of Mutual Insurance Companies (CAMIC) and the Insurance Brokers Association of Canada (IBAC) are split on tactics regarding a federal government bill that would allow banks to share customer data with fintechs. Which path better protects consumers

News InsuranceLegislation / RegulationTechnology

Why mutuals are concerned about banks sharing data with fintechs

May 2, 2018 by David Gambrill

The Canadian Association of Mutual Insurance Companies (CAMIC) Wednesday called on Parliament to withdraw two sections from proposed Bill 74 that would allow chartered banks to share their customers’ banking data with fintechs. CAMIC and its 76 member companies are

News InsuranceLegislation / Regulation

Keep banking and insurance separate: IBAC

April 20, 2018 by Jason Contant

The Insurance Brokers Association of Canada (IBAC) is welcoming explicit restrictions on banks’ business powers related to insurance contained in Bill C-74, but wants to make sure the historical separation between banks and insurance continues. The federal government’s recently introduced

News InsuranceLegislation / RegulationMarkets / Coverages

Who owns the surplus if a mutual company demutualizes?

January 9, 2018 by Jason Contant

In the event that a mutual company decides to demutualize, there is some debate over what happens with that insurer’s surplus. Current regulations do not address what happens in the event of a conversion. “The Insurance Companies Act and associated

News AnnouncementsAssociationsInsuranceMarkets / CoveragesMergers and Aqcuisitions

Mutual mergers: stepping stone to demutualization?

January 8, 2018 by Jason Contant

With Economical Insurance on the road to demutualization, the question has always been: will other mutuals follow suit? But another possibility is that some of the smaller Canadian mutual insurers may merge to form larger entities in anticipation of demutualizing

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Bill eliminating federal tax exemption for farming and fishing insurers passed into law

June 23, 2017 by Canadian Underwriter

The federal government passed Thursday a law eliminating the tax exemption for insurers covering farming and fishing properties. Bill C-44 is omnibus legislation that implements, among other things, some provisions of the federal budget 2017-18, tabled March 22. In addition

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Proposal to eliminate farm insurers’ tax exemption before Senate

June 21, 2017 by Canadian Underwriter

An omnibus bill that proposes to eliminate the tax exemption for insurers covering farming and fishing properties has been referred to a Senate committee. Currently, Section 149 of the federal Income Tax Act stipulates that an insurer is exempt from

News InsuranceMergers and AqcuisitionsProfessional DevelopmentTechnology

Trillium Mutual obtains CSIO certification for personal lines eDocs

July 27, 2016 by Canadian Underwriter

The Centre for Study of Insurance Operations (CSIO) announced on Wednesday that Trillium Mutual Insurance Company has become the latest company to obtain CSIO certification for Personal Lines eDocs. When eDocs are used to their full potential, sending, receiving, sorting,