Legal / Regulation

Soft and hard disruptors will vastly transform Canadian collision industry in next 10 years: CCIF speaker

The Canadian collision industry will be “ripped apart beyond belief” in a decade by several disruptors, including connected autonomous vehicles and ridesharing, a speaker suggested Friday at the Canadian Collision Industry Forum (CCIF) meeting in Vaughan, Ont. Andrew King, managing partner at Desrosiers Automotive Consultants Inc., discussed “soft” and “hard” disruptors during a session titled […]

By Jason Contant | January 27, 2017

2 min read

Legal / Regulation

Quebec electric vehicle law sparks concern within automotive industry

MONTREAL – Automakers are expressing concern that it will be difficult to comply with a new law in Quebec that requires them to sell a minimum number of electric, plug-in hybrid and hydrogen fuel-cell vehicles. Starting with the 2018 model year, 3.5 per cent of all auto sales in the province will have to be […]

By Jason Contant | January 24, 2017

3 min read

Legal / Regulation

Rule-making authority essential for Ontario’s new FSRA: Cooke

Equipping Ontario’s new Financial Services Regulatory Authority (FSRA) with rule-making authority is critically important to ensuring its effectiveness as an independent, flexible and consumer-focused regulator of financial services and pensions, argues George Cooke, chair of the Board of Directors of OMERS Administration Corporation. “If rule-making authority is not part of the new FSRA, then it […]

By Angela Stelmakowich | January 20, 2017

4 min read

Legal / Regulation

Wider mandate for Ontario’s auto insurance regulator would be welcomed

A wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a panel discussion in downtown Toronto. Ots’s recommendation is to take a page from the books […]

By Angela Stelmakowich | January 19, 2017

4 min read

U.S. government to require cars to be able to talk to each other

WASHINGTON – All new cars and light trucks would be able to talk wirelessly with each other, with traffic lights and with other roadway infrastructure under a proposal released Tuesday by the Department of Transportation. Officials say the technology holds the potential to dramatically reduce traffic deaths and transform driving. Vehicle-to-vehicle communications, or V2V, enables […]

By Jason Contant | December 13, 2016

3 min read

Insurance industry needs more focus on the long-term, OSFI’s Henderson suggests at KPMG conference

The insurance industry as a whole needs to focus more on long-term issues, Neville Henderson, the assistant superintendent of the insurance supervision sector of the Office of the Superintendent of Financial Institutions (OSFI), suggested on Wednesday. Speaking at KPMG’s 25th Annual Insurance Conference at the Metro Toronto Convention Centre, Henderson told attendees that the industry […]

By Jason Contant | December 9, 2016

3 min read

Ontario launches consultations to cut red tape in financial services sector

The province of Ontario is launching consultations until the end of January 2017, asking businesses and the public to help identify and improve regulations that are “unclear, outdated, redundant or unnecessarily costly” for the financial services sector. Feedback can be provided online at ontario.ca/RedTapeChallenge, a crowd-sourced platform that gives businesses and the public the chance […]

2 min read

Ontario Securities Commission and Australian financial regulator sign fintech agreement

The Ontario Securities Commission (OSC) and the Australian Securities and Investments Commission (ASIC) have signed a new agreement under which fintech companies in Australia and Ontario “will be able to draw on support from the combined resources of their financial regulators as they seek to operate in the others’ market.” Under the agreement, signed in […]

2 min read

‘Lots of room for improvement’ with new Ontario auto dispute resolution system: Judge Cunningham

Ontario’s license appeal tribunal – which this year started hearing auto accident benefits disputes – presents “an opportunity” for auto insurers to “redefine how they provide their services,” an insurance company lawyer said Wednesday, while the retired judge who recommended changing the dispute resolution system told the audience of a panel discussion there is “lots […]

By Jason Contant | November 2, 2016

4 min read