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Ontario
Government of Manitoba announces legislation to reduce red tape imposed on businesses, industry and local governments
March 20, 2017 by Canadian UnderwriterThe Government of Manitoba has announced proposed legislation that would reduce outdated, contradictory, complicated or ineffective regulatory requirements imposed on businesses, industry and local governments, provincial Finance Minister Cameron Friesen said last week. Friesen said in a statement that the…
Square One finds it ‘surprising’ how many renters go without home insurance
March 20, 2017 by Canadian UnderwriterA survey indicates that most renters in Alberta, Ontario and British Columbia have home insurance, Square One Insurance Services Inc. suggested Monday. The Vancouver based firm “recently surveyed over 1,500 renters in British Columbia, Alberta and Ontario.” More than a…
Hazmat spill from truck kills driver, closes Ontario highway 401
March 15, 2017 THE CANADIAN PRESSA stretch of Highway 401 through eastern Ontario remained closed early Wednesday following weather-related collisions that left one person dead, 28 people injured and officials scrambling to contain a chemical spill. Ontario Provincial Police say there were two collisions on…
Ontario private member’s bill proposes 15% cap on personal injury lawyers’ contingency fees
March 10, 2017 by Canadian UnderwriterA bill tabled Wednesday in the Ontario legislature, by a backbench Liberal MPP, would limit lawyers’ contingency fees in the province, for personal injury claims, to 15%. If passed into law, Bill 103 would stipulate that “contingency fees be capped…
2016 insured losses for Canadian cats reached about $4.9 billion last year – 10 times more severe than 2015: PCS
March 7, 2017 by Canadian UnderwriterInsured losses from catastrophe events in Canada reached about $4.9 billion last year, nearly 10 times more severe than 2015, the quietest Canadian catastrophe year on record, according to Property Claim Services’ (PCS) full-year 2016 review. In 2016, PCS designated…
Partnership creates “Canada’s largest Indigenous-owned insurance agency”
March 6, 2017 by Canadian UnderwriterTIPI Insurance Partners and IMI Brokerage Company have announced a partnership to create “Canada’s largest Indigenous-owned insurance agency,” providing property insurance, pension plans and group benefits designed exclusively for Indigenous people. Announced late last week, the partnership roughly doubles TIPI’s…
Fresh Start
March 1, 2017 Jonathan Grnak, Barrister & Solicitor, Danson Recht LLPRegulatory changes are necessary to better position Ontario for adopting autonomous vehicles and addressing any related issues. Both regulators and insurers must be ready for the near future, which will likely feature a mix of assisted driving technologies and the ability of a driver to take control should the need arise.
Ontario Securities Commission, U.K. regulator sign co-operation agreement on fintech businesses
February 23, 2017 by Canadian UnderwriterThe Ontario Securities Commission (OSC) and the United Kingdom’s Financial Conduct Authority (FCA) have signed a new agreement under which fintech businesses in both jurisdictions will be able to seek support from their financial regulators as they look to operate…
Supreme Court rules on admissibility of police drug recognition experts in criminal impaired driving trials
February 23, 2017 by Canadian UnderwriterAn Ontario motorist charged with impaired driving is facing a third trial now that the Supreme Court of Canada has ruled that a judge did not have to hold a voir dire before admitting opinion evidence from a police drug…
Economical Insurance gross written premiums up 4.8% in Q4 2016 to $521.8 million
February 22, 2017 by Canadian UnderwriterEconomical Insurance has reported that gross written premiums (GWP) for the fourth quarter of 2016 ending Dec. 31 grew by $23.8 million, or 4.8%, to $521.8 million from $498 million in Q4 2015. In particular, personal lines premiums grew by…
Transport Canada urged to ‘identify appropriate mitigating strategies’ to reduce severity of derailments involving dangerous goods
February 17, 2017 by Canadian UnderwriterThe federal transport department should study the factors involved in severity of train derailments involving dangerous goods, Transportation Safety Board of Canada said Thursday. TSB – a separate organization from Transport Canada that investigates rail, aviation, marine and pipeline incidents…
60% of Ontarians at least somewhat oppose cap and trade: Nanos Research poll
February 17, 2017 by Canadian UnderwriterA new province-wide poll has found that more than 60% of Ontarians at least somewhat oppose cap and trade, which is designed to help fight climate change and reward businesses that reduce their greenhouse gas emissions. The Nanos Research poll,…