by Carlito Pablo on February 8th, 2021 at 3:04 PM 1 of 1 2 of 1
An insurance brokerage has been ordered to pay a fine of $25,000.
The penalty is in connection with an unauthorized insurance coverage of a Vancouver condo corporation.
HUB International Canada was found to have violated the Financial Institutions Act (FIA) by failing to report the unauthorized insurance to the Superintendent of Financial Institutions.
The notice of penalty against the brokerage was posted online Monday (February 8) by the B.C. Financial Services Authority.
BCFSA CEO and superintendent Blair Morrison recalled in the document that the provincial regulator received information from the Insurance Bureau of Canada that HUB “placed insurance with an unauthorized insurer for a Vancouver strata”.
by Carlito Pablo on February 4th, 2021 at 8:10 AM 1 of 1 2 of 1
A nine-to-five job doesn’t work for everyone.
There are people who hate being tied to a desk during normal business hours from Monday to Friday.
For those seeking flexibility, a career in the mortgage industry could be their ticket to freedom.
“People don’t always like traditional employment, where you work for an employer and you’re accountable to a boss,” Samantha Gale told the
Straight in a phone interview.
Gale, a lawyer, is the CEO of the Canadian Mortgage Brokers Association–B.C.
It’s a nonprofit Vancouver-based organization that, according to its website, supports and enhances professionalism and ethical standards within the mortgage industry .
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Good riddance to 2020. It was a challenging year by any
stretch, but the industry prevailed with the hard work of many
front-line condominium personnel including, but not limited to,
cleaners, security staff, superintendents and property
managers. While we are not out of the woods quite yet, a big
thank you goes out to all of those who kept the industry afloat
during 2020.
Now that we have turned the page, we look forward to what 2021
has to offer. While the pandemic undoubtedly will play a
No simple solutions to skyrocketing condo insurance costs, report finds
A Crown corporation that regulates British Columbia s private-sector insurance companies says an average 40 per cent increase in condo insurance premiums resulted from various factors, including risks that insurers face from earthquakes, wildfires and flooding.
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The Canadian Press ·
Posted: Dec 18, 2020 3:15 PM PT | Last Updated: December 18, 2020
A final report from B.C. s Financial Services Authority suggests there is no end in sight to skyrocketing insurance prices for condos. (Maggie MacPherson/CBC)
Camille Bains
Image Credit: THE CANADIAN PRESS/Darryl Dyck December 18, 2020 - 7:00 PM VANCOUVER - A Crown corporation that regulates British Columbia s private-sector insurance companies says an average 40 per cent increase in condo insurance premiums resulted from various factors including risks that insurers face from earthquakes, wildfires and flooding. The BC Financial Services Authority said in a report Friday that risks related to catastrophic events, some involving climate change, have put additional pressure on insurance companies profitability, impacting premiums and deductibles in parts of Canada and globally. However, it said in a final report that the issues involved are complex and there are no simple solutions, so consumers should not expect short- or medium-term relief from further price increases.