Proposed changes to Regulatory Capital Framework
OSFI’s (Office of the Superintendent of Financial Institutions) proposed changes to the Regulatory Capital Framework for Federally Regulated Property and Casualty (P&C) Insurers have created serious concerns in the industry.
The proposed changes will not only affect all Title Insurance providers in Canada, but also the entire commercial real estate industry through price increases and coverage limitations.
Here’s what the industry is saying about this.
- Canadian Underwriter: OSFI’s ticking time bomb
- Insurance Business Magazine: OSFI proposals present ‘very serious problem’ for Canadian insurance industry