Canada’s federally-regulated property and casualty insurers collectively made an after-tax profit of $4.23 billion on direct written premiums of nearly $32 billion during the first half of 2021, recently-released regulatory data shows. Most major lines had claims ratios below 55%.…
Concerned about whether “black box” underwriting methods based on artificial intelligence are good for your clients? So is Canada’s federal insurance regulator. “We get a lot of questions around AI and what are we to do about it,” said Neville…
The federal insurance regulator – silent during the election campaign on proposed changes to reinsurance – plans to talk to the industry after the holidays, a senior official with the federal Office of the Superintendent of Financial Institutions (OSFI) said…