Technological innovation is not among the goals of some government regulators overseeing insurance markets, but some can be persuaded to allow innovation if a determined insurance provider presents “a good case study,” speakers suggested Tuesday at the Insurance-Canada.ca Executive Forum. “We as insurers have hidden behind the regulators for a long time and have said, ‘Gosh, I would love to do that but I won’t be allowed to,” said David Crozier, president and chief executive officer of Everest Insurance Company of Canada. “We…
Ontario’s 27-year-old rate approval process can be confusing, especially for those insuring fleets in multiple provinces.
Neither the behaviour of personal injury lawyers nor “excess profits” of insurers are to blame for high auto premiums in Ontario, but the government should consider restricting lawyers’ contingency fees, a special advisor to the provincial government suggested in a…
Northbridge General Insurance Corporation is writing an auto policy for RideCo, which provides what RideCo calls “personalized, express transit service” in the Kitchener-Waterloo, Ontario area, Northbridge Insurance announced Thursday. “The Northbridge Insurance policy is issued to RideCo, with both RideCo,…
The Insurance Bureau of Canada (IBC) is applauding the Ontario government’s decision to move forward with the creation of a new financial services regulator. On Monday, the government of Ontario announced in its 2016 Ontario Economic Outlook and Fiscal Review…