Regulation (September 01, 2010)

NEW BRUNSWICK OPPOSITION VOWS TO INCREASE MINOR INJURY CAP LIMIT IF ELECTED

The New Brunswick Progressive Conservatives say they will increase the cap on soft tissue injuries if elected this fall.

By how much remains to be seen, according to Times & Transcript.

“The specific amount of how much will be based on a three-month review upon taking office,” Jody Carr, MLA for Oromocto is quoted as saying in Times & Transcript.

Carr is the opposition critic for areas of interest relating to justice and consumer affairs; attorney general; courts of New Brunswick; New Brunswick Credit Union Deposit Insurance Corporation; New Brunswick Insurance Board; Office of the Consumer Advocate for Insurance; Office of the Conflict of Interest Commissioner and policy development.

“We want to be responsible rather than just pull a number out of a hat,” Carr said in the Times & Transcript. “We want to make sure it’s a responsible cap so we don’t see an increase in rates.”

MANITOBA REGULATOR REQUIRES BROKERS TO HAVE AN E&O FRAUD ENDORSEMENT

Manitoba licensed insurance agents are now required to have an endorsement that covers fraud and dishonest acts as part of their mandatory errors and omissions insurance.

The amendment to the Insurance Agents & Adjusters Regulation was implemented on May 31, 2010. It allows for a one-year transition period.