ILSTV News
Your Source For Daily Insurance News & AnalysisOSFI changing rules for mortgage insurers and update capital requirements
OTTAWA — Canada’s federal financial regulator is proposing new rules for mortgage insurance companies to better assess the risks of borrowers and deal with hot real estate markets. The Office of the Superintendent of Financial Institutions released its draft...
read moreOntario Government Handed out $907 Million in Corporate Grants Since 2013
Ontario’s Liberal government has handed out over $907 million in corporate grants since 2013, with the largest amounts going to profitable high-tech companies and big automakers. Figures released by the government show IT giant Cicso Systems got $220 million...
read moreYahoo Says Hackers Stole Info from 500 Million User Accounts
Yahoo said hackers stole personal information from 500 million of its user accounts, a massive security breakdown it attributed to a “state sponsored actor.” The breach disclosed Thursday, the latest setback for the beleaguered internet company, dates back...
read moreSupreme Court of Canada Provides Guidance on ‘Faulty Workmanship’ Exclusions in All-Risk Insurance Policies
Article by Gordon A. Buck from Alexander Holburn Beaudin + Lang LLP On September 15, 2016, the Supreme Court of Canada issued its highly-anticipated decision in Ledcor Construction Limited v. Northbridge Indemnity Insurance Company (“Ledcor“),1 which...
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read moreNumber of EI Beneficiaries Jumps in July due to Changes For Hard Hit Areas
Statistics Canada says the number of people receiving employment insurance payments climbed 4.4 per cent from June to July as changes to extend benefits for those in hard-hit areas kicked in. The agency said Thursday there were 575,200 people receiving regular EI...
read more‘Revenge Porn’ Site Taken Down as Nova Scotia RCMP Launch Investigation
A web site featuring intimate images of women from one Nova Scotia region, apparently posted without their consent, has been taken down amid an RCMP investigation. Cpl. Jennifer Clarke said Wednesday, September 21, 2016 a woman in Pictou County complained to the force...
read moreWhy You Need Renters Insurance
Story by Jackie Marchildon from nexthome.yp.ca A lot of renters don’t realize they need Renters Insurance. Many think the building owner’s insurance covers them. WRONG. You need to insure all your stuff. If your apartment building or rental home doesn’t require you...
read more39 Month Delay Nets Stay of Proceedings in B.C. Man’s Theft and Fraud Case
A B.C. Supreme Court judge has granted a stay of proceedings in a theft and fraud case that he says would have taken more than three years to conclude after charges were laid. Justice Robert Johnston says the defence is responsible for six months of the delay, but he...
read moreFederal Government Says it Will Penalize Quebec for Incidental Health Fees
Quebec will be penalized for violating Canadian health care law after its doctors charged patients fees for services covered by the public system, Health Minister Jane Philpott recently told her provincial counterpart. In a letter dated Sept. 6, Philpott told Gaetan...
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