Keyword
regulation
Intact’s commercial ridesharing insurance policy gets green light in Ontario
July 8, 2016 by Canadian UnderwriterThe Financial Services Commission of Ontario has approved a commercial ridesharing insurance policy offered by Intact Financial Corporation (IFC) in partnership with Uber Canada. Effective July 7, 2016, IFC reports in a statement that the product will provide protection to…
Aon supports Alberta’s move to give the green light to ridesharing insurance
July 6, 2016 by Canadian UnderwriterAon Risk Solutions is offering tailor-made personal line insurance policies that recognize ridesharing to the hundreds of Uber drivers who require coverage in Alberta. There are no restrictions related to driver age, years licensed or the amount of weekly ridesharing…
Alberta’s new insurance policy for TNCs a first for a Canadian province, policy available July 1
June 30, 2016 by Canadian UnderwriterA new insurance policy for transportation network companies (TNCs) is available to insurance firms licensed in Alberta as of July 1, in line with the provincial government’s recently announced TNC framework geared at promoting fairness and road safety. The insurance…
Panama Papers creating more scrutiny around offshore structures
June 24, 2016 by Angela StelmakowichThe Panama Papers situation seems to be creating more scrutiny and less sympathy to offshore structures for tax purposes among regulators in Canada and this could spur greater disclosure demands, suggested Shea Small, a partner and international and business strategy…
Cyber security enters U.S. manufacturers’ Top 10 risks: BDO
June 22, 2016 by Canadian UnderwriterCyber security now ranks among the Top 10 risk factors of manufacturers south of the border, notes a report issued Tuesday by accounting and consulting organization BDO USA, LLP. The lion’s share of manufacturers in the United States analyzed in…
‘Fair amount of uncertainty’ of financial impact of Canadian earthquakes: OSFI deputy superintendent
April 14, 2016 Greg Meckbach, Associate EditorThe financial risk from an earthquake in Quebec is “a lot bigger than maybe people think,” a Munich Re Canada executive suggested Wednesday, while the head of Aon Benfield Canada suggested Canadians on the west coast “may be” underinsured for…
Sharing economy an opportunity for insurers, government should focus on objectives: OMIA speaker
April 1, 2016 by Angela StelmakowichRegulators would do well to resist taking a “whack-a-mole” approach to the sharing economy – something that could result in a $20 billion market in Canada within the next decade – and, instead, consider their ultimate objectives, Sunil Johal, policy…
Conduct Becoming
March 11, 2016 Patrick Déry, Chair, Canadian Council of Insurance Regulators, and Superintendent, Solvency, Autorité des marchés financiersInsurance regulators in Canada have taken an important step forward with the recent adoption of a new, co-operative supervision framework for market conduct. The framework provides the foundation required to continue the central mandate to serve consumers at a time when the insurance marketplace is evolving and experiencing rapid change.