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Supreme Court CIBC ruling ‘generally a good development’ for D&O insurers: IBC

December 7, 2015 by Canadian Underwriter

A recent Supreme Court of Canada decision, on the interpretation of Ontario’s Securities Act, is “generally a good development” for directors’ and officers’ liability insurers, a lawyer representing Insurance Bureau of Canada suggested Monday, despite that fact that the court

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Three-year limitation period suspended in shareholders’ misrepresentation lawsuit against bank: Supreme Court of Canada

December 4, 2015 by Canadian Underwriter

In a case involving an Ontario law in which directors’ and officers’ liability insurers are said to have a “critical and unique interest,” the Supreme Court of Canada announced Friday it is allowing a class action lawsuit against the Canadian

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Cargo theft reporting program to launch in Western Canada

December 4, 2015 by Canadian Underwriter

The Insurance Bureau of Canada (IBC), police services and the Alberta Motor Transport Association (AMTA) will discuss the expansion of the cargo theft reporting program to Western Canada on Tuesday in Edmonton. The program will help raise awareness of and

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Ontario MPP Tim Hudak calls on provincial finance minister to clear way for ridesharing insurance

December 3, 2015 by Canadian Underwriter

Niagara West-Glanbrook MPP Tim Hudak has called on Ontario Finance Minister Charles Sousa to develop “affordable, comprehensive insurance” specific to ridesharing services like Uber. Hudak’s private member’s bill, Opportunity in the Sharing Economy Act, which creates provincial legislation around ridesharing,

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Insurance Bureau of Canada, LexisNexis Risk Solutions and other partners contribute to national flood program

November 26, 2015 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) and other partners are collaborating on a national flood program to be led by the private sector. The new flood maps and supporting data, developed in partnership with LexisNexis Risk Solutions, JBA Risk Management,

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Panel appointed by Ontario Ministry of Finance recommends creation of new regulatory agency

November 5, 2015 by Canadian Underwriter

A panel appointed by the Ontario Ministry of Finance has recommended the creation of a new regulatory agency to operate as an “integrated regulator of financial services with distinct market conduct, pensions and prudential regulatory functions; operating independently of each

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New demands under privacy act could pose some challenges

November 2, 2015 Angela Stelmakowich, Editor

Most new requirements ushered in by the Canadian Digital Privacy Act (DPA) are very helpful and provide a fix, but a number could pose some challenges, including maintaining a record for every breach, John Beardwood, a partner with Fasken Martineau

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Consumer-based approach key, consolidation a potential threat to making Ontario auto insurance market competitive

October 30, 2015 Angela Stelmakowich, Editor

Taking a consumer-based approach to auto insurance is what allowed New Jersey to punt the perennial political football from the state arena and create a truly competitive market – something that Holly Bakke suggests Ontario could accomplish as well. “What

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Understanding consumer view key to meeting expectations: Forgeron

October 29, 2015 Angela Stelmakowich, Editor

Considering things from the consumer perspective is important for insurers to truly understand – and, in turn, be able to respond to – ever-evolving consumer expectations, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), suggested Thursday at

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IBC applauds Alberta’s move to reduce flood risk

October 28, 2015 by Canadian Underwriter

The Government of Alberta’s announcement this week that it will pump almost $450 million into funding flood protection measures along the Bow and Elbow Rivers shows its “commitment to building resilient communities,” Insurance Bureau of Canada (IBC) notes in a

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Record number of British Columbians participate in ShakeOut earthquake drill

October 15, 2015 by Canadian Underwriter

A record number of British Columbians – 785,000 – took part in the Great British Columbia ShakeOut on Thursday, joining millions around the world, the Insurance Bureau of Canada (IBC) said.  “Since launching the Great British Columbia ShakeOut in 2011,

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David Marshall to serve as advisor on auto reforms to Ontario’s finance minister

October 9, 2015 by Canadian Underwriter

David Marshall has been appointed as advisor to Ontario’s finance minister on auto insurance and pensions, effective Feb. 1, 2016. Marshall will be charged with providing recommendations to the government on further ways to reduce auto insurance costs in the