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Bill eliminating federal tax exemption for farming and fishing insurers passed into law

June 23, 2017 by Canadian Underwriter

The federal government passed Thursday a law eliminating the tax exemption for insurers covering farming and fishing properties. Bill C-44 is omnibus legislation that implements, among other things, some provisions of the federal budget 2017-18, tabled March 22. In addition

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Proposal to eliminate farm insurers’ tax exemption before Senate

June 21, 2017 by Canadian Underwriter

An omnibus bill that proposes to eliminate the tax exemption for insurers covering farming and fishing properties has been referred to a Senate committee. Currently, Section 149 of the federal Income Tax Act stipulates that an insurer is exempt from

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C.D. Howe Institute report calls for federal emergency backstop arrangement for earthquakes

August 3, 2016 by Canadian Underwriter

A former federal Superintendent of Financial Institutions is calling for a last-resort federal emergency backstop arrangement for P&C insurers to minimize the systemic financial impact resulting from a “catastrophic and likely uninsurable natural disaster,” such as earthquake. “A federal emergency