Flood coverage gap puts pressure on Canada's broker channel - Insurance Business

A former mortgage broker has agreed to a $40,000 fine in connection with an alleged fraud scheme that prompted a complaint to regulators. In a statement released on Thursday, the Financial Services Regulatory Authority of Ontario (FSRA) wrote that it entered into a settlement with Paramjeet Kaur, who was a licensed broker with Trillium Mortgage Services Inc. until March 31, 2026 when her licence expired.

After $563 million in September storm losses, insurers want spending on infrastructure and prevention The Insurance Bureau of Canada (IBC) is calling on governments to spend more on flood prevention and to give Canadians access to flood risk information. It points to the September storms in southern Ontario as the latest warning of rising weather losses.