Claims
The Commonwealth Court of Pennsylvania has dismissed all claims against Kingsway and Kingsway America Inc. associated with the company’s donation of its Lincoln General shares to charities. Kingsway Financial Services Inc. announced the court has dismissed all claims in the legal action by the Pennsylvania Department of Insurance (DOI), which challenged the disposition of Lincoln […]
By Canadian Underwriter | April 1, 2010
1 min read
Industry
The Office of the Superintendent of Financial Institutions (OSFI) will recommend that the 25% limit on unregistered reinsurance be repealed as part of a set of reforms of its reinsurance supervisory and regulatory framework. “Although the 25% limit has appeal from a prudential perspective, it does not provide the incentive for ceding companies to scrutinize […]
The Department of Finance Canada has clarified its intent to define certain financial services that are subject to GST, suggesting insurance broker commissions will continue to remain GST-exempt.A Canada Revenue Agency GST/HST Notice 250 in February 2010 caused some confusion when it suggested the government intended to apply GST to “facilitatory services,” defined in the […]
2 min read
Risk
Essentially New Brunswick's proposed ban on credit scoring threatens to undo whatever more subtle approach the CCIR might have deemed appropriate.
By David Gambrill, Editor | March 31, 2010
3 min read
DIRECT RESPONSE INSURERS OPPOSE NEW BRUNSWICK BAN ON CREDIT SCORING The Canadian Association of Direct Response Insurers (CADRI) has appealed to New Brunswick’s premier and minister of justice and consumer affairs to oppose the province’s proposed ban on the use of credit by home and auto insurers. The provincial government tabled Bill 43 in February. […]
March 31, 2010
CANADIAN INSURANCE SECTOR UNLIKELY CANDIDATE FOR RAPID GROWTH The Canadian insurance sector is unlikely to achieve rapid growth, reports companiesandmarkets.com, a United Kingdom-based online repository of market research reports. In its first analysis of Canadian insurance, it noted the Canadian insurance market is “mature and competitive” and “unlikely to achieve rapid growth through our forecast […]
The Ontario Bar Association (OBA) has recognized Tom McGrenere and Kristopher Knutsen for their outstanding work in advancing insurance law, whether it be in favour of the insureds or insurers.
5 min read
Home
The most recent reforms to Ontario's auto insurance product may be the most fundamental yet; they respond first and foremost to the needs of consumers.
By Ralph Palumbo | March 31, 2010
4 min read
There are quite a few new changes coming down the pipe related to Ontario's new auto reforms, and the broker channel is preparing to lead the way in explaining these reforms to consumers.
By Paul Taylor | March 31, 2010
10 min read
The Insurance Bureau of Canada has developed a Code of Conduct to guide insurers that use credit scoring for the purpose of underwriting insurance.
6 min read
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