Regulators, insurers must focus on risks: OSFI

International regulators should narrow the focus of their mandates, while insurers must re-evaluate their use of modeling, according to the head of the Office of the Superintendent of Financial Institutions (OSFI). Speaking at the National Insurance Conference of Canada (NICC) in Ottawa, Superintendent Julie Dickson told a ballroom of C-suite professionals in the P&C space[…]

Regulators require fine-setting abilities, says legal expert

Regulators need more tools. This was the message legal insurance specialist, Vivien Bercovici, partner at Heenan Blaikie, told a room full of P&C delegates during a panel discussion on “market (mis)conduct” at the National Insurance Conference of Canada, that ended Friday Oct. 2, 2009. According to Bercovici, only a handful of regulators across Canada have[…]

Hyndman calls for criminal crackdown

Doug Hyndman, chair of British Columbia’s Securities Commission, continues to stoke the regulatory fires, calling for stiffer criminal enforcement of white-collar crime rather than publicly aired rhetoric on a single Canadian securities regulator. In a 30-minute speech to a who’s-who of Bay Street, Hyndman emphasized the need for Canadian authorities to take white-collar crime more[…]