Insurers bow to pressure to disclose commissions: Prodded by Ontario, industry expected to adopt measure across Canada

Article Abstract:

The property and causality insurance industry in Canada made a deal to disclose the controversy over the hidden payments to brokers because of the inspiration of the Ontario government. The brokers are entitled to two types of payment, base commission and contingent commissions payments where the later practice is hidden from the consumers.

Legal issues & crime, Government regulation (cont), Government regulation, Legal/Government Regulation, Fire, marine, and casualty insurance, Laws, regulations and rules, Compensation and benefits, Property and casualty insurance industry, Insurance brokers, Commissions (Compensation), Commissions (Fees), Disclosure of information

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Centrefund proposal meets stiff opposition

Article Abstract:

Toronto, Ont.-based Centrefund Realty Corp. has met oppostion from its institutional investors for a plan that would cancel management contracts. Centrefund, which is led by chief executive officer Peter Cohen, predicts defeat for the resolution at its upcoming shareholders conference.

Land Subdivision and Land Development, Subdividers & Developers, Subdividers and Developers, Real estate developers, Human resource management, Centrefund Realty Corp.

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