A new report by the Insurance Bureau of Canada (IBC), representing Canada's private property and casualty insurers, argues that fully automated vehicles – the advent of which could begin as early as 2020 – present new risks to the Canadian auto insurance sector and its stakeholders.
On November 4, 2015, a panel appointed by the Government of Ontario to review the mandate of provincial financial services regulators - the Financial Services Commission of Ontario, the Financial Services Tribunal and the Deposit Insurance Corporation of Ontario - published its preliminary position paper "Review of the Mandates of the Financial Services Commission of Ontario, Financial Services Tribunal, and the Deposit Insurance Corporation of Ontario”. The panel recommended the creation of a new provincial financial services regulatory agency (“Financial Services Regulatory Authority” to exercise both prudential and market conduct regulation, essentially replacing FSCO and DICO. Comments on the paper are due by December 14, 2015.
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