19 September 2025 • 1 minute read
Fortuity - Canadian Insurance News and Trends - September 2025
No relief from forfeiture when no coverage to forfeit
In the September edition of Fortuity, we look at the British Columbia Court of Appeal’s decision in Carriere-de-Davide v Westland Insurance Group Ltd. In its decision the Court assessed the content of a private insurance broker’s duty to provide advice about excess coverage, confirming that in the context of an automobile insurance policy, where an agent is dealing with a repeat customer who has declined excess coverage on previous renewals, it is not incumbent upon the agent to actively recommend that the customer purchase excess coverage.
Regulatory review
OSFI quarterly update — OSFI eliminates the requirement for peer review of appointed actuaries for federally regulated insurance companies
On September 11, 2025, the Office of the Superintendent of Financial Institutions announced significant amendments to Guideline E-15, which governs the legal requirements, qualifications, and peer review obligations of appointed actuaries for federally regulated insurance companies. These amendments will come into force January 1, 2027.