Legal / Regulation
Insurance regulatory frameworks are becoming disrupted as new technologies and the rise of social media are changing the way insurance is bought and sold.
October 26, 2017
2 min read
Andrew Weaver, the leader of the B.C. Green Party, has introduced his Ridesharing Enabling Act for the third time. Weaver previously introduced the bill twice under the previous B.C. Liberal government. The bill has been modified from previous versions to enable the Insurance Corporation of British Columbia to develop an insurance regime for ride-hailing, as […]
By Canadian Underwriter | October 23, 2017
4 min read
The combination of known risks with a new technology is challenging, Christian Höft, client manager with Munich Re, told Canadian Underwriter one day after the (re)insurer released a comprehensive risk analysis of the Hyperloop technology. Hyperloop Transportation Technologies’ (HTT) technology is a new form of transport which sees passengers and goods being transported in capsules […]
By Jason Contant | October 18, 2017
3 min read
The government of British Columbia announced on Monday that it has hired an industry expert to consult with and help prepare the taxi industry for a “made-in-B.C.” solution to ridesharing. Transportation and Infrastructure Minister Claire Trevena said in a press release that the provincial government has hired industry expert Dan Hara of Ottawa-based Hara Associates. […]
By Canadian Underwriter | October 17, 2017
OTTAWA – Under the California sun, Marc Garneau pressed a button to let a car take him for a spin as part of a joy ride that was more business than pleasure. While much attention this week went to Prime Minister Justin Trudeau’s trip to Washington and Mexico to save North American free trade talks, […]
By Jason Contant | October 16, 2017
VICTORIA – An election promise to bring ridesharing to British Columbia by the end of the year has taken a detour as the NDP government says safety of passengers and operators comes first. Transportation Minister Claire Trevena said Tuesday the government is studying safety and regulatory issues and she can’t say when ridesharing operations like […]
By Jason Contant | October 4, 2017
Despite the constantly changing landscape, ever since insurance has been around, the industry has “accommodated or addressed” these emerging challenges, attendees to the National Insurance Conference of Canada (NICC) heard on Monday. Neville Henderson, assistant superintendent of the insurance supervision sector of the Office of the Superintendent of Financial Institutions (OSFI), said that he’s seen […]
By Jason Contant | October 3, 2017
Global cyber premium volume is set to increase six- to eightfold within a decade, according to a new report from Fitch Ratings. Released on Wednesday, the report Cyber Insurance – Risks and Opportunities (Global Non-Life Insurer Underwriting Exposures Examined) found that cyber insurance has been a profitable business line for early market entrants and is […]
By Canadian Underwriter | September 28, 2017
Autonomous vehicle (AV) technology will require a reassessment of liability and the uncertainty surrounding liability may even slow the introduction of AV technology, a speaker suggested on Monday at the RIMS Canada Conference. Jim Kidd, project manager at the City of Toronto’s insurance and risk management section, was speaking about the topic during a session […]
By Jason Contant | September 26, 2017
Newfoundland and Labrador is undertaking an automobile insurance review meant to chart the way forward for the province. Whatever the final destination, brokers will be along for the ride to help ensure customers are protected, regulatory changes foster a healthy and sustainable system, and consumer education is enhanced.
September 26, 2017
6 min read
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