Restrictions imposed on how insurers price usage-based insurance pricing (UBIP) are hampering innovation in the insurance industry, the Insurance Bureau of Canada (IBC) told Canadian Underwriter Monday. Canadian Underwriter asked IBC on Monday for examples of red tape that could be cut in the industry to help increase innovation. One example is that Ontarians should […]
By Jason Contant | February 14, 2018
3 min read
Discover an environmental hazard while adjusting a loss? You’d better report it.
February 14, 2018
2 min read
Ontario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), is still examining some of the complexities surrounding electronic proof of auto insurance (EPAI) before approving their use in the province, offering no timetable to launch EPAI in Ontario. “As the regulator, it is important that FSCO balance moving quickly enough to support innovation with […]
By Jason Contant | February 8, 2018
2 min read
Ontario wants to stamp out auto insurance fraud by creating a dedicated team of fraud prosecutors. Here’s what P&C insurers think of the plan...
February 8, 2018
2 min read
Insurers understand the need for electronic proof of auto insurance, but don’t yet have the ability to share this information electronically, Steve Kee, director of media and digital communications with the Insurance Bureau of Canada (IBC), said in an interview with Canadian Underwriter. “[Customers] want easy, transparent and quick online experiences and I think insurers […]
By Jason Contant | February 6, 2018
3 min read
A bill affecting vehicle safety recalls and emerging automotive technologies could soon become law with the passage Wednesday in the House of Commons of Bill S-2. Bill S-2 brings “one of the most significant changes” to the 47-year-old federal Motor Vehicle Safety Act, because it changes existing law to give Canada’s transport minister the power […]
By Greg Meckbach | February 2, 2018
2 min read
Key features of Ontario’s latest auto reform package have been attempted before – and ended in heartbreak
January 30, 2018
2 min read
The Office of the Superintendent of Insurance of Nova Scotia has become the first regulator in Canada to permit electronic proof of auto insurance (EPAI). Earlier this month, the provincial superintendent of insurance, William Ngu, released a bulletin outlining the guiding principles permitting the use of EPAI. The required guidelines and principles for insurers/brokers to […]
By Jason Contant | January 25, 2018
3 min read
Brokers could pay more under proposal to tax income sprinkling and passive investments
January 15, 2018
2 min read
With Canada’s mandatory data breach notification provisions in the Digital Privacy Act expected to come into force this year, organizations will soon be required to report “breaches of security safeguards” that pose a “real risk of significant harm to an individual.” Included as part of a series of amendments to the Personal Information Protection and […]
By Jason Contant | January 10, 2018
2 min read