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regulation

News InsuranceLegislation / Regulation

OSFI draft guideline tightens oversight of Canadian branches of foreign insurers

November 4, 2020 by David Gambrill

Canada’s solvency regulator has released a new draft guideline that tightens the regulator’s oversight of foreign insurance and bank branches in Canada. Among other changes to existing regulations, the Office of the Superintendent of Financial Institutions (OSFI) is requiring local

News AssociationsBrokersLegislation / RegulationMarkets / Coverages

Intact’s take on regulating commercial ‘middle players’

October 26, 2020 by Greg Meckbach

Government and the industry should take a close look at the structure and regulation of “middle players” in the commercial property and casualty insurance market, Ontario brokers heard last week at their annual convention. “We know there are some things

News BrokersInsuranceLegislation / Regulation

Switching your client’s carrier? Don’t forget to tell the client

October 19, 2020 by David Gambrill

A Manitoba broker received a $250 fine recently for failing to advise a client that his policy had been moved to a different insurer until two weeks after the policy had expired. In its decision, the Insurance Council of Manitoba

News BrokersInsuranceLegislation / Regulation

Broker lands in hot water after a man receives a surprise gift from his father-in-law

September 29, 2020 by David Gambrill

A B.C. broker received a $1,000 fine and was ordered to complete a course in auto insurance for her role in trying to help a man purchase a car for his son-in-law. The provincial broker regulator found that the broker,

News BrokersInsuranceLegislation / Regulation

What happened to the ex-broker who claimed he was a CE instructor, but wasn’t

July 22, 2020 by David Gambrill

A former broker who has vowed never to return to the insurance industry has been ordered to pay a $5,000 civil fine for claiming to be a CE instructor when he had not in fact taught the course he claimed

News BrokersInsuranceLegislation / Regulation

Broker fined $2K for obtaining premium relief for a client while unlicenced

July 10, 2020 by David Gambrill

A Manitoba broker was recently fined $2,000 after obtaining premium relief for a client within hours of being told by the regulator that he was unlicensed to act as a broker. On Dec. 19, 2018, Darcy Dion Boguski completed the

News InsuranceLegislation / Regulation

How COVID-19 is changing insurance transactions in B.C.

March 25, 2020 by Jason Contant

The COVID-19 pandemic sweeping across the globe and here at home is changing the way auto insurance transactions are conducted in British Columbia. Last week, the government of British Columbia announced it would allow certain auto insurance transactions, such as

News BrokersInsurance

Is Alberta next for no-fault insurance?

March 10, 2020 by Adam Malik

Alberta will move to a no-fault system for auto physical damage if the province’s brokers have their way. That’s just one of 20 legislative and regulatory changes the Insurance Brokers Association of Alberta (IBAA) has recommended to Alberta’s Auto Advisory

News BrokersInsurance

Broker fined for misrepresenting cause of her termination

February 21, 2020 by David Gambrill

A Manitoba broker has been fined $1,000 and ordered to take an ethics course after failing to fully disclose on her broker licence renewal application why her brokerage had terminated her for cause. Rahat Sharma, a broker who used to

Feature Legislation / RegulationTechnology

Time to regulate insurtechs

February 4, 2020 David Gambrill, Editor in Chief

A short time ago, insurers feared insurtechs would disrupt the property and casualty industry.

News Insurance

Alberta strikes panel to review auto insurance, won’t bring back rate cap

December 27, 2019 Dean Bennett – THE CANADIAN PRESS

Alberta is reviewing auto insurance in the province to ensure that the industry can remain viable and drivers can get affordable coverage. Finance Minister Travis Toews says Albertans are paying some of the highest rates in Canada but are having

News BrokersInsuranceLegislation / RegulationProfessional Development

How Trump’s ethical follies can benefit Canada’s P&C industry

October 29, 2019 by David Gambrill

All the talk in the White House these days about “whistleblowers” and “no quid pro quo” echoed in the discussions about ethics last Thursday between Canadian insurers and their brokers at the 2019 Insurance Brokers Association of Ontario (IBAO) Convention.