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…
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…
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…