Keyword
regulator
Regulatory guidance should recognize broker independence, insurers say
October 4, 2018 by Greg MeckbachWhen it comes to market conduct in the property and casualty industry, the regulations should recognize that brokers are independent, an Insurance Bureau of Canada spokesperson says. A guidance paper explaining regulators’ “overarching expectations” on market conduct for brokers, agents…
PACICC to participate in federal government’s review of insolvency legislation next year
April 18, 2017 Jason Contant, Online EditorThe 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…
Wider mandate for Ontario’s auto insurance regulator would be welcomed
January 19, 2017 by Angela StelmakowichA wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a…
RIBO overhauls spot check program to include consideration of conduct requirements, expectations: Hitchlock
November 10, 2016 Angela Stelmakowich, EditorThe Registered Insurance Brokers of Ontario (RIBO) has embarked on a major overhaul of its spot check program with the twin goals of promoting better consumer protection and improved broker risk management, says Norma Hitchlock, RIBO’s outgoing president. While the…
U.K. research shows value of financial conduct fines down by 36%, fine value against individuals more than double
June 20, 2016 by Canadian UnderwriterA new survey out of the United Kingdom indicates that over the last year, the value of Financial Conduct Authority (FCA) fines against individuals has more than doubled while, for companies, the value has dropped 37%. Overall, the FCA imposed…