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Why mutuals are concerned about banks sharing data with fintechs

May 2, 2018 by David Gambrill

The Canadian Association of Mutual Insurance Companies (CAMIC) Wednesday called on Parliament to withdraw two sections from proposed Bill 74 that would allow chartered banks to share their customers’ banking data with fintechs. CAMIC and its 76 member companies are…

News AssociationsInsuranceTechnology

Industry close to consensus on insurer-broker connectivity

May 2, 2018 by Jason Contant

The insurance industry in Canada is getting close to consensus on connectivity between insurance brokers and carriers, an Applied Systems executive said Tuesday at the company’s Executive Symposium in downtown Toronto. “I truly believe that we are fairly close to…

News InsuranceTechnology

Retailers ‘should be able to detect’ cyber attacks: lawyer

May 2, 2018 by Greg Meckbach

A breach of customer payment card information involving Saks Fifth Avenue has taken a cyber risk lawyer by surprise. In July 2017, “malware began running on certain point of sale systems at potentially all Saks Fifth Avenue, Saks OFF 5TH…

News Insurance

Industry responds to trial lawyers’ report on auto insurance

May 2, 2018 by Greg Meckbach

The Ontario Trial Lawyers Association has updated a three-year-old report suggesting that the Ontario auto insurance industry is far more profitable than the industry thinks – an assertion that insurers say is “simply false.” Released Tuesday, the report, Price Regulation…

News CatastrophesClaimsInsurance

New Brunswick floods: ‘This could get very uncomfortable,’ officials warn

May 2, 2018 by Kevin Bissett - THE CANADIAN PRESS

SAINT JOHN, N.B. – People were being urged to evacuate their homes Wednesday as rising floodwaters threatened to surpass record-setting water levels in areas along the Saint John River, with one fire chief warning residents: “This could get very uncomfortable.”…

News Catastrophes

Flooding grows along Saint John River in New Brunswick

May 1, 2018 by THE CANADIAN PRESS

FREDERICTON – Floodwaters were expanding their reach Tuesday and washing through several communities along the Saint John River, stranding residents, soaking basements and making islands out of homes. “I see nothing but water,” Earl LeBlanc, a 76-year-old widower, said from…

News Insurance

How to stop a wildfire

May 1, 2018 by David Gambrill

Canadian municipalities will join a national effort on May 5 to reduce wildfire risk to local homes and environments in anticipation of this year’s wildfire season. Wildfire Community Preparedness Day is an annual, national program launched by FireSmart Canada, in…

News AssociationsInsuranceTechnology

Ontario Chamber of Commerce joins chorus of calls for electronic pink slips

May 1, 2018 by Jason Contant

The Ontario Chamber of Commerce (OCC) is the latest organization to call on the provincial government to allow insurers to offer an electronic proof of auto insurance (EPAI) and other insurance documents. In a resolution passed during OCC’s annual general…

News InsuranceLegislation / Regulation

Risks your client faces if it buys a former gas station

May 1, 2018 by Greg Meckbach

The owner of a “brownfield” polluted commercial property in British Columbia has lost its bid to have the property considered worthless for tax purposes. Victory Motors (Abbotsford) Ltd., situated about 80 kilometres east of Vancouver, owns commercial property that was…

News Appointments

Fairfax Financial board includes former RSA CEO Bob Gunn

May 1, 2018 by Greg Meckbach

Former chief executives of RSA and Guy Carpenter & Company LLC were elected to new terms on the board of directors of Fairfax Financial Holdings Ltd., Toronto-based Fairfax announced Friday. Fairfax, the corporate parent of Northbridge Insurance and OdysseyRe, held…

News InsuranceLegal

When a Canadian can collect accident benefits for fatal accident in Philippines

May 1, 2018 by David Gambrill

The SEF 44 Family Protection Endorsement in Alberta’s standard auto policy provides accident benefits coverage for accidents that happen outside Canada, the Court of Queen’s Bench of Alberta ruled Monday. In Wage v. Canadian Direct Insurance, Leizle Wage was struck…

News BrokersInsuranceMarkets / Coverages

After Toronto van attack, what should brokers tell their rental firm clients?

April 30, 2018 by Greg Meckbach

The van attack that killed 10 people and wounded 14 in Toronto Monday highlights the importance of brokers giving proper coverage advice to fleet owners, an insurance defence lawyer says. Eric Grossman, founding partner of Zarek Taylor Grossman Hanrahan LLP,…