Canadian Underwriter

Keyword
regulation

Police badge and handcuffs on a computer to represent regulators cracking down on computer crime
News InsuranceTechnology

How quantum computing creates new risks, regulatory issues for insurers

March 14, 2024 Jason Contant

Quantum computing stands at the forefront of data processing technology and, although it remains an open question how it will be regulated, some form of guidelines will be needed. Quantum computers go well beyond a standard binary form of processing

Patrick Ballantyne Board Chair, CISRO
News AppointmentsBrokersInsuranceLegislation / Regulation

Meet CISRO’s new board chairman

March 14, 2024 by David Gambrill

Patrick Ballantyne, CEO of Ontario’s insurance broker regulator since 2016, is now board chairman at the Canadian Insurance Services Regulatory Organizations (CISRO). CISRO is a national forum of Canadian regulatory authorities dedicated to consistent qualifications and conduct of business standards

Construction site accident
News CatastrophesClaimsInsurance

Who’s responsible when construction projects go wrong

March 13, 2024 By Dr. Yasser Korany, KSI Engineering

Construction project delays can expose commercial insurers to significant claims costs. Canada’s property and casualty insurance market collected more than $748 million in direct written premiums for surety bonds in 2022, per Canada’s solvency regulator, the Office of the Superintendent

Car insurance application
News BrokersInsuranceMarkets / CoveragesTechnology

FSRA’s plans for auto coverage regulation

March 5, 2024 Philip Porado

Ontario’s auto insurers shouldn’t expect changes to the ‘take all comers’ or Unfair or Deceptive Practices Act rules, Michelle Dodokin, head of auto insurance supervision at Ontario’s Financial Services Regulatory Authority (FSRA), told a breakout session at Monday’s 2024 FSRA

Insurance agent consulting mature, middle-aged couple signing contract documents at home
News BrokersMGAs

Regulators watching how broker sales tied to compensation

January 12, 2024 by David Gambrill

Canada’s insurance regulators are paying close attention to how insurers are assessing the performance of their sales force and/or linking broker compensation to the fair treatment of consumers. In particular, they are monitoring whether brokers are being assessed using purely

Tow Truck Driver Hauling a Wrecked Car
News ClaimsInsuranceLegislation / Regulation

Ontario to take over licensing and oversight of tow truck industry

December 12, 2023 by David Gambrill

Ontario is taking tow truck services out of the hands of municipalities and requiring tow truck operators to be certified and adhere to a Code of Conduct. “This marks the end of municipal regulation of towing and storage operators, with

auto and handcuffs on shiny background.
News AnnouncementsClaimsInsuranceLegalLegislation / Regulation

How auto insurers responded to Ontario’s auto fraud announcement

November 24, 2023 by David Gambrill

Ontario auto insurers are commending the provincial government for committing $18 million over three years to help police services combat and prevent auto theft. “Last year marked the first time in history when Canada’s insurers paid over $1 billion in claims

Computer Vision - Conceptual Illustration
News InsuranceLegalLegislation / Regulation

Competition Bureau investigating Applied Systems

November 21, 2023 by David Gambrill

Canada’s Competition Bureau has obtained a court order to advance a civil investigation into allegations of anti-competitive conduct by Applied Systems Inc. and its affiliates, including Applied Systems Canada Inc. Both the Competition Bureau and Applied Systems replied in separate

Business people shaking hands in the office. Photo of one cheerful businessman and one happy businesswoman handshaking in the board room. The view is through glass.
News InsuranceLegislation / RegulationProfessional Development

Make sure your talent recruiter is licensed — or else!

October 25, 2023 by David Gambrill

If your Ontario P&C business is using a recruiter or temporary staffing organization to find talent, make sure they’re licensed as of Jan. 1, 2024. Otherwise, you may be subject to a hefty fine in the New Year. As of

Revolution fist with red nails propaganda poster
News AssociationsInsuranceLegislation / RegulationRisk

Over-regulation, populism: P&C execs sound the alarm

October 20, 2023 by David Gambrill

Canada’s P&C insurance industry is tired of shouldering the weight of “over-regulation” and populist politics. To counter these influences, the industry needs to spin its own narrative, P&C insurance company executives told attendees at the Insurance Broker Association of Ontario’s

New rules coming for insurance industry intermediaries
News BrokersInsuranceLegalTechnology

Is FSRA planning to license aggregators?

October 6, 2023 Philip Porado

Ontario’s insurance regulator has confirmed it is considering whether or not aggregators need to be licensed. Since August, when Ontario’s financial services regulator issued a report outlining concerns about auto insurers’ compliance with take-all-comers requirements, Canada’s P&C insurance industry has

Global economy and technology concept.
News InsuranceLegislation / RegulationRisk

Why us? P&C industry responds to new foreign interference rules

October 5, 2023 by David Gambrill

Just when you thought it was safe to return to underwriting property and casualty (P&C) insurance risk, OSFI has new marching orders from Parliament to provide guidance on foreign interference in financial institutions, prompting yet another round of consultations with