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compliance

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What FSRA found when it examined take-all-comers compliance

August 4, 2023 Philip Porado

Ontario’s auto insurance regulator has used the phrase “systemic non-compliance” to describe how the province’s 12 largest auto insurance companies are approaching Ontario’s take-all-comers requirement. According to a Financial Services Regulatory Authority of Ontario (FSRA) report, released Friday, market behaviour

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News InsuranceMarkets / CoveragesMGAs

How Lloyd’s is addressing MGA pain points

June 13, 2023 by Jason Contant

Lloyd’s is looking to address a major pain point for MGAs — duplication of compliance requests from syndicates. The insurance marketplace is looking to kickstart and facilitate conversations with syndicates on compliance and due diligence, Jane Harley, head of delegated

News BrokersInsuranceLegislation / RegulationProfessional Development

How Trump’s ethical follies can benefit Canada’s P&C industry

October 29, 2019 by David Gambrill

All the talk in the White House these days about “whistleblowers” and “no quid pro quo” echoed in the discussions about ethics last Thursday between Canadian insurers and their brokers at the 2019 Insurance Brokers Association of Ontario (IBAO) Convention.

News AssociationsCatastrophesInsuranceMergers and AqcuisitionsTechnology

Proposed model law could beef up U.S. insurers’ cyber risk management

August 17, 2017 by Canadian Underwriter

New cyber-related obligations being proposed south of the border, if approved, could promote more rigorous cyber risk management practices in the U.S. insurance market, Fitch Ratings suggests. The CyberSecurity Working Group of the National Association of Insurance Commissioners (NAIC) has

News InsuranceTechnology

Canada’s fintech adoption rate doubles in last 18 months: EY report

July 25, 2017 by Angela Stelmakowich

Customer wants, needs and demands are guiding players in Canada’s fintech space toward developing simpler, more transparent and customer-centric financial services products, with insurance expected to see a big increase in uptake in future, suggests new research released Tuesday by

News ConstructionInsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

Chubb’s multi-line practice to focus on large transportation clients in U.S. and Canada, help address wide range of risks

July 20, 2017 by Canadian Underwriter

Chubb’s newly launched multi-line industry practice will focus on providing insurance products, service and risk management solutions for best-in-class large risk transportation clients in both the United States and Canada. The formalization of the practice, within the insurer’s Major Accounts

News InsuranceTechnology

Shifting risk responsibilities to front line will help reduce vulnerabilities: PwC Canada

July 19, 2017 by Canadian Underwriter

Canadian businesses are more vulnerable to disruption than their global counterparts and need to make each line of service responsible for risk decisions, monitoring, oversight and assessment of vulnerabilities to bolster protection, suggest Canadian insights from a recent PwC report.

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsProfessional DevelopmentTechnology

Global business leaders cite regulatory risks, disruptive influences and cyber risks as key challenges

June 14, 2017 by Canadian Underwriter

Companies in Canada and around the world are being increasingly impacted by risk, with nearly three quarters (72%) of business leaders polled in a recent survey “citing that they believe we are living in a riskier world,” said a new

News InsuranceMarkets / CoveragesTechnology

Canadian and U.S. government agencies underperform on fraud detection and reporting, study finds

June 14, 2017 by Canadian Underwriter

Government agencies in Canada and the United States performed significantly worse than the business sector on fraud detection and mitigation, according to a new survey from risk management software provider ACL. The 2017 Fraud Survey involved a poll of more

News InsuranceMarkets / CoveragesProfessional DevelopmentReinsuranceTechnology

43% of companies achieving positive outcomes from digital transformation investments: XL Catlin-sponsored survey

June 14, 2017 by Canadian Underwriter

More than four in 10 companies surveyed for an XL Catlin-sponsored study have reported achieving positive outcomes from digital transformation investments, especially those using digital technology at all levels of operations, from supply chains and distribution networks to compliance activities

News Technology

Use of technology could help to enhance compliance efforts: KPMG LLP report

March 14, 2017 by Canadian Underwriter

The majority of chief compliance officers (CCO) in the United States taking part in a KPMG LLP survey are struggling to integrate and automate compliance activities across their organizations. Six in 10 polled CCOs report “their company’s technology infrastructure has

News AssociationsInsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Wider mandate for Ontario’s auto insurance regulator would be welcomed

January 19, 2017 by Angela Stelmakowich

A wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a