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CCIR
Brokers and insurers query regulators on proposed incentives guidance
October 25, 2022 by Jason ContantNational associations representing Canadian P&C brokers and insurers are seeking clarification and amendments to proposed regulatory guidance on incentives management, particularly around the costs of incentives within different distribution models. In particular, both Insurance Brokers Association of Canada (IBAC) and…
What the regulators’ data says about insurers and fair treatments of customers
December 10, 2020 by David GambrillCanadian P&C insurers have generally embraced the general principles of the Fair Treatment of Consumers (FTC), but the industry still has some work to do in specific benchmark areas, according to an annual statement on market conduct issued by the…
Regulator to study incentive programs as part of “fair treatment” education mandate
November 13, 2019 by Jason ContantMore communication is needed to inform the broker community about fair treatment of customers (FTC) guidance, since there may be a disconnect or lack of awareness of the topic, the Canadian Council of Insurance Regulators (CCIR) reported recently. In particular,…
Looking for clarity on insurance regulations? Try this new hub…
May 14, 2019 by Adam MalikThe Canadian Council of Insurance Regulators (CCIR) will be launching a new access point this fall to help insurance providers understand licencing and regulatory regimes across Canada. The launch of the Fintech Advisory Hub was met with enthusiasm from the…
Why are electronic pink slips being held up in Ontario?
February 8, 2018 by Jason ContantOntario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), is still examining some of the complexities surrounding electronic proof of auto insurance (EPAI) before approving their use in the province, offering no timetable to launch EPAI in Ontario. “As…
Insurers should ensure consumers are ‘better able to understand’ home insurance policies: CCIR
August 9, 2017 by Canadian UnderwriterIn a paper released Wednesday, Canada’s insurance regulators’ association suggests that insurers need to better educate consumers so they can understand the terms – including limitations, exclusions and deductibles – of their property insurance contracts, while sharing aggregated property risk…
Canadian Council of Insurance Regulators releases 2017-2020 strategic plan
June 28, 2017 by Canadian UnderwriterThe Canadian Council of Insurance Regulators (CCIR) has published its strategic plan for 2017-2020, which focuses its efforts on cooperative supervisory activities, fair treatment of consumers, risks and coverages related to nat cats, and a cooperative approach to financial services…
CCIR publishes issues paper on electronic proof of auto insurance
May 17, 2016 by Canadian UnderwriterThe Canadian Council of Insurance Regulators (CCIR) announced on Monday that it has published an issues paper for public consultation on electronic proof of automobile insurance (EPAI). As electronic documentation becomes more prevalent in society – be it through smart…