Canadian Underwriter

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Office of the Superintendent of Financial Institutions

News InsuranceTechnology

Why solvency regulator is concerned about ‘black box’ underwriting

December 4, 2019 by Greg Meckbach

Concerned about whether “black box” underwriting methods based on artificial intelligence are good for your clients? So is Canada’s federal insurance regulator. “We get a lot of questions around AI and what are we to do about it,” said Neville

News LegalLegislation / RegulationReinsurance

When OSFI will talk to industry about draft reinsurance rules

November 29, 2019 by Greg Meckbach

The federal insurance regulator – silent during the election campaign on proposed changes to reinsurance – plans to talk to the industry after the holidays, a senior official with the federal Office of the Superintendent of Financial Institutions (OSFI) said

Feature Reinsurance

OSFI’s ticking time bomb

November 1, 2019 David Gambrill, Editor in Chief

Canada’s solvency regulator and the property and casualty insurance industry are working to defuse a potentially explosive situation – one that could
see global reinsurance capital fleeing from Canada. What will be the outcome of this ticking regulatory time bomb?

Feature

Reinsurance Protectionism

January 4, 2019 David Gambrill, Editor-in-Chief

Will OSFI proposals take the “global” out of global reinsurance?

Feature Reinsurance

Power of Small

November 2, 2018 David Gambrill, Editor-in-Chief

Canada’s reinsurance marketplace, featuring a relatively small piece of the global premium pie, creates a challenge for reinsurers to grow their business. So why do reinsurers remain optimistic about their future prospects?

Feature Legislation / Regulation

Regulatory Reform

October 26, 2017 Brian Reeve, Partner, Cassels Brock & Blackwell LLP

Insurance regulatory frameworks are becoming disrupted as new technologies and the rise of social media are changing the way insurance is bought and sold.

News AssociationsInsuranceLegislation / RegulationMergers and Aqcuisitions

Insurers should ensure consumers are ‘better able to understand’ home insurance policies: CCIR

August 9, 2017 by Canadian Underwriter

In 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

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Investment income doubles for Canadian P&C industry: MSA

June 27, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry had essentially no underwriting income during the first three months of the year but Q1 net investment income more than doubled year over year, figures from a report from MSA Research Inc. suggest.

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

OSFI publishes draft 2018 version of Minimum Capital Test for federally regulated P&C insurers

June 15, 2017 by Canadian Underwriter

The Office of the Superintendent of Financial Institutions (OSFI) on Thursday published the draft 2018 version of its Minimum Capital Test (MCT) for federally regulated P&C insurers. The revised guideline, which will be effective Jan. 1, 2018, provides clarification with

News AssociationsCatastrophesEarnings / RatingsInsuranceLegislation / RegulationMergers and AqcuisitionsReinsurance

Relying on government to solve “big shake” problem courts continued procrastination: Tannas

May 25, 2017 by Angela Stelmakowich

The potential for procrastination to address the consequences of a large earthquake in Canada are persistent and pervasive, demanding implementation of a tactical plan that could see “the issue dealt with, one way or another, in the next 12 months,”

News InsuranceLegislation / Regulation

PACICC to participate in federal government’s review of insolvency legislation next year

April 18, 2017 Jason Contant, Online Editor

The Property and Casualty Insurance Compensation Corporation (PACICC) will participate in the federal government’s review of financial sector regulations next year, including the examination of an act that has not “really been reviewed” in more than a century. The Winding-up

Feature Legal

Charting a New Course

March 1, 2017 Brian Reeve, Partner, Cassels Brock & Blackwell LLP

The regulatory regime for reinsurance has become more ambiguous and complicated in Canada. The federal regulator needs to chart a course that strikes a balance between the protection of Canadian policyholders and ensuring a competitive insurance market exists in Canada capable of operating in