Legal / Regulation
Quebec’s financial services regulator is urging caution following the “recent emergence of peer-to-peer risk sharing platforms.” The Autorité des marchés financiers (AMF) said in a press release on Tuesday that it has noticed that companies are offering consumers platforms where they can form pools to protect similar property without using an insurer. “Consumers are asked […]
By Canadian Underwriter | April 20, 2016
2 min read
WASHINGTON – Self-driving cars are more likely to hurt than help public safety because of unsolved technical issues, engineers and safety advocates told the government Friday, countering a push by innovators to speed government approval. Even a trade association for automakers cautioned the National Highway Traffic Safety Administration that a slower, more deliberative approach may […]
By Jason Contant | April 11, 2016
4 min read
The global insurance telematics market size is expected to grow from US$857.2 million in 2015 to US$2.21 billion in 2020, at a compound annual growth rate (CAGR) of 20.9%, according to a report by ReportLinker, a market research technology company based in Lyon, France. Consumers’ enthusiasm for in-car connectivity and growth of smartphone penetration in […]
By Canadian Underwriter | April 5, 2016
The Ontario government has welcomed proposed changes it suggests will up the competitiveness of credit unions and caisses populaires in the province, while also helping to better serve individuals, communities and businesses. In recently accepting a report prepared by Laura Albanese, parliamentary assistant to Ontario finance minister Charles Sousa – which contains 15 recommendations for […]
By Angela Stelmakowich, Editor | April 1, 2016
3 min read
HR
The Investment Industry Regulatory Organization of Canada (IIROC) and the Financial Services Commission of Ontario (FSCO) announced on Wednesday that they have signed an information-sharing agreement that will “provide more effective regulation and strengthen consumer protection in Ontario.” Under the Memorandum of Understanding (MOU), the two regulatory agencies will share the decisions and sanctions of […]
By Canadian Underwriter | March 31, 2016
KANATA, Ont. – Driverless cars, trucks and buses are going to cause a major economic headache, and the federal government needs to be ready, say advocates for the country’s high tech and automotive sectors. But Ottawa also needs to tread lightly as it moves to regulate Canada’s blossoming autonomous vehicle industry, they caution. Tucked away […]
By Jason Contant | March 30, 2016
Concerns regarding cyber risk, interest rates and the economy remain prominent among insurers, according to the latest quarterly survey from A.M. Best Company. The Best’s Special Report, released on Thursday, included several hundred responses, representing property and casualty (70.4%), life & annuity (22.2%) and health (5.3%) insurers, with the remaining 2.1% identifying themselves as surety, […]
By Canadian Underwriter | March 28, 2016
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