Tech
WINNIPEG – Manitoba’s Public Utilities Board has approved new insurance rates for ride-hailing company drivers that businesses such as Uber and Lyft have said will keep them setting up shop in Winnipeg. The board has given approval to a Manitoba Public Insurance application that calls for an add-on to the drivers’ basic insurance, which would […]
By The Canadian Press | January 16, 2018
2 min read
Canadian property and casualty insurers must address their IT data collection systems in order to profit from more IT glamorous solutions such as chatbots, blockchain, artificial intelligence and the Internet of Things (IoT), says Sven Roehl, who facilitates The Cookhouse Lab in Toronto. The Cookhouse Lab is an insurtech open innovation lab, a forum in […]
By David Gambrill | January 15, 2018
3 min read
Legal / Regulation
Brokers could pay more under proposal to tax income sprinkling and passive investments
By Greg Meckbach, Associate Editor | January 15, 2018
As Canada moves closer to legalized pot, a sure-fire way of testing drivers for cannabis impairment remains elusive. Bill C-45, currently before the Senate, would make possession of up to 30 grams of recreational marijuana legal. Bill C-46, a companion bill, would give police the power to demand an oral fluid sample from drivers at […]
By Greg Meckbach | January 15, 2018
Manitoba Public Insurance (MPI)’s novel “time band” approach for insuring ridesharing companies backfired when Uber took a pass on the model recently. “This product structure differs greatly from insurance models in place across North America (including Ontario, Alberta and Quebec) and deviates in several important ways from the type of insurance that Uber has found […]
By David Gambrill | January 12, 2018
TORONTO – Auto insurance rates in Ontario increased in the last quarter of 2017, putting the Liberal government further away from its promise to cut rates by 15 per cent. Fourth quarter numbers released today by the Financial Services Commission of Ontario show an average increase of about one per cent. Ontario’s finance ministry says […]
By Jason Contant | January 12, 2018
Cyber insurance policies are now evolving to the point where they are starting to tackle personal injury and property damage, Brian Rosenbaum, national director, legal and research practice with Aon Risk Solutions Canada, told Canadian Underwriter on Tuesday. Known in insurance circles as Internet of Things (IoT) exposures, liability can occur when personal injury or […]
Operations
A B.C. broker has had his licence cancelled for five years after the provincial broker regulator found that he had participated in a kickback scheme involving a potential preferred vendor for the brokerage. Bhupinder Singh Atwal, assistant vice president at the unidentified brokerage, worked primarily in the new-home warranty division of the brokerage, but was […]
By David Gambrill | January 11, 2018
With Canada’s mandatory data breach notification provisions in the Digital Privacy Act expected to come into force this year, organizations will soon be required to report “breaches of security safeguards” that pose a “real risk of significant harm to an individual.” Included as part of a series of amendments to the Personal Information Protection and […]
By Jason Contant | January 10, 2018
RGAx, a subsidiary of Reinsurance Group of America, has acquired a group of companies providing technology, consulting and outsourcing solutions to the North American life and reinsurance industries – including two Canadian organizations. On Jan. 8, RGAx announced the acquisition of the LOGiQ3 Group, which includes LOGiQ3 Corp., APEXA, Cookhouse Lab and Tindall Associates Inc. […]
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