Industry
Alberta’s insurance regulator has issued a public warning against operators said be selling insurance products within the province without a license. This move follows on legal action taken by Ontario’s financial services regulator last month against a company believed to have been illegally underwriting property and casualty insurance products. An Insurance Bureau of Canada (IBC) […]
July 31, 2001
1 min read
Property and casualty insurers have gained a temporary reprieve from the Office of the Superintendent of Financial Services (OSFI) on implementation of the regulator’s proposed reporting of discounted unpaid claims, according to the Insurance Bureau of Canada (IBC). The new reporting requirement was supposed to take effect from the beginning of January this year. However, […]
It was annual broker review time. Like all my company’s marketing representatives, I had to hold up an objective magnifying glass once a year to each of my brokers. I had to assess each one, listing their strengths and their weaknesses. This annual review included charts showing the mix of business my company was receiving […]
By Axiom | July 31, 2001
9 min read
The outcome of a class action lawsuit filed in Ontario against the Co-operators General Insurance Co. in an attempt to reclaim amounts the insurer allegedly gained from salvage following a total loss write-off of a vehicle and deductible charged to the insured, could herald a new attack of "strike suits" against auto insurers
By William Blakeney, of Blakeney Henneberry Baksh | July 31, 2001
7 min read
The Registered Insurance Brokers of Ontario (RIBO) has called on the Ontario government’s Ministry of Finance for recognition of the unique differences that exist between property and casualty insurance products and their distribution modes compared with the life, deposit-taking and securities sectors operating in the province. In a letter addressed to John O’Toole, the parliamentary […]
Most jurisdictions have a form of rate approval systems for private passenger automobile risks but in recent times they have been going from bad to worse. Ontario, with its new rate filing system, is no exception
By Bill Star, president of Kingsway Financial Services | July 31, 2001
5 min read
The proposed merger of FSCO and the OSC holds significant implications for Ontario's insurers, with perhaps the greatest ramification being the "rule-making" authority that the new regulatory body will hold over the financial services industries. It is therefore critical that insurers make themselves familiar with the proposed merger legislation before it is inacted.
By Brian Reeve, partner at Cassels Brock & Blackwell LLP | July 31, 2001
6 min read
The newly-elected Liberal government in British Columbia has made good on its promise to clean house at the Insurance Corporation of B.C. (ICBC). The recent appointment of new chairman Nick Geer has been followed by the replacement of other board positions. The only remaining member is ICBC president and CEO Thom Thompson. The changes come […]
Insurers acting through the industry’s national lobby body, the Insurance Bureau of Canada (IBC), are currently engaged in high-level meetings with provincial government officials in Atlantic Canada with a view to introducing rapid reform to the basic auto insurance product. The need to take corrective action in lieu of the significant rise in auto claim […]
2 min read
39.8 -3.1 -2.0 -6.3 Source: SNL Securities and the Insurance Information Institute 43.4 34.5 39.8 -3.1 -2.0 -6.3 Source: SNL Securities and the Insurance Information Institute -6.5 43.4 34.5 39.8 -3.1 -2.0 -6.3 Source: SNL Securities and the Insurance Information Institute -9.6 -6.5 43.4 34.5 39.8 -3.1 -2.0 -6.3 Source: SNL Securities and the Insurance […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
