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IGM Financial Inc
Symbol IGM
Shares Issued 236,428,793
Close 2024-09-10 C$ 38.62
Market Cap C$ 9,130,879,986
Recent Sedar Documents

Globe says Intact, rivals hear insurers seek reforms

2024-09-10 06:30 ET - In the News

See In the News (C-IFC) Intact Financial Corp

The Globe and Mail reports in its Tuesday, Sept. 10, edition that following a series of severe weather events this summer that prompted a surge in natural-disaster claims in Canada, property and casualty insurers are urging insurance regulators to establish a more unified licensing system. The Globe's Clare O'Hara writes that this system would permit adjusters to operate in multiple jurisdictions across the country. A coalition of property and casualty industry associations on Monday asked two of the country's main regulatory agencies, the Canadian Insurance Services Regulatory Organizations (CISRO) and the Canadian Council of Insurance Regulators (CCIR), to devise a reciprocal licensing framework. The aim is to improve Canada's preparedness for disasters by facilitating adjusters in working across the country. "We are venturing into uncharted territory, and it will require patience as the property and casualty industry earnestly endeavors to assist its home, auto and business customers in their recovery," stated the letter. Currently, in Canada, each province has its own set of rules and requirements for adjusters, making it so that a provincial licence for an adjuster is not recognized in every other province.

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