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Government of Saskatchewan introduces new privacy legislation

June 14, 2016 by Canadian Underwriter

The Government of Saskatchewan announced on Monday that new privacy legislation is being introduced and expected to come into force in 2017. The Freedom of Information and Protection of Privacy Amendment Act, 2016 (FOIPP) and The Local Authority Freedom of

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Insurance industry needs to catch up, huge advantage for first-movers in sharing economy: Nelis

June 6, 2016 by Angela Stelmakowich

The sharing economy is not a new concept, but because it moves so quickly today, the insurance industry must innovate to catch up and reap the benefits, David Nelis, national CoE leader – casualty for Aon Risk Services, suggested last

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Restriction on solicitor-client privilege in Income Tax Act ruled unconstitutional by Canada’s highest court

June 3, 2016 by Canadian Underwriter

The Supreme Court of Canada announced Friday it has ruled against the federal government on the question of whether lawyers’ accounting records are considered matters of solicitor-client privilege, for the purpose Canada Revenue Agency’s power to demand documents. Canada’s highest

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Saskatchewan takes steps to strengthen privacy of personal health records

May 31, 2016 by Canadian Underwriter

Amendments to health information privacy legislation in Saskatchewan will help protect personal health records and increase accountability of those responsible for protecting those records, Saskatchewan’s Ministry of Health said on Tuesday. Amendments to The Health Information Protection Act (HIPA) come

News InsuranceLegislation / RegulationProfessional Development

Single regulatory approach not the same as one-size-fits-all, CIFF speaker emphasizes

May 30, 2016 Jason Contant, Online Editor

A single financial services regulatory approach does not mean a one-size-fits-all approach at all, a speaker stressed last week at the Canadian Insurance Financial Forum at the Allstream Centre in Toronto. Lawrence Ritchie, a partner at Osler, Hoskin & Harcourt

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Ontario adjusters will need retraining on injury definitions as part of auto reforms taking effect in June: Walker

May 11, 2016 by Angela Stelmakowich

Insurance adjusters will likely need to be re-educated and retrained on new medical terminology when the latest batch of Ontario auto insurance reforms – which include a revised definition catastrophic impairment – comes into force June 1, Laurie Walker, president

News InsuranceLegislation / RegulationTechnology

Mandatory privacy breach notification will ‘probably be in force’ in late 2017: Insurance Telematics Canada speaker

May 2, 2016 Greg Meckbach, Associate Editor

A Canada-wide regulation mandating disclosure of privacy breaches might not be in place until late 2017, an official with the Office of the Privacy Commissioner of Canada suggested Friday. In June, 2015, the Digital Privacy Act was passed into law.

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Traditional reinsurance capital dropped 3.5% in 2015 from 2014: Willis Re

April 27, 2016 by Canadian Underwriter

2015 saw a 3.5% reduction in traditional capital dedicated to reinsurance, down US$13 billion from US$370 billion at year-end 2014, according to the latest Reinsurance Market Report from Willis Re, the reinsurance business of global advisory, broking and solutions company

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UN, World Bank Group and insurance industry join forces for formation of Insurance Development Forum

April 18, 2016 by Canadian Underwriter

Leaders of the United Nations, the World Bank Group and the global insurance industry on Monday announced the formation of the Insurance Development Forum (IDF), which occurred at a high level meeting in Washington, DC, last week. The IDF has

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No ‘plague’ of data breaches and solvency issues, fintech industry CEOs say

April 6, 2016 Alexandra Posadzki - THE CANADIAN PRESS

TORONTO – There is no “plague” of data breaches and solvency issues affecting financial technology upstarts, contrary to what TD Bank’s CEO says, the heads of several companies in the so-called fintech sector said Monday. The industry insiders were responding

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Beazley’s data breach response insurance product now available in Canada

April 1, 2016 by Canadian Underwriter

Beazley announced Thursday it has launched its flagship breach response product in Canada, which protects the personal data of as many as five million individuals per breach. “Canada’s Digital Privacy Act, passed in 2015, will soon impose additional obligations on

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U.S. Homeland Security department to share cyber threat data

March 18, 2016 Tami Abdollah - THE ASSOCIATED PRESS

WASHINGTON, D.C. — The United States Homeland Security Department on Thursday formally began sharing details of new digital threats with private business and other government agencies, a culmination of a longtime effort to improve cybersecurity. “This is the ‘if you