The Insurance Bureau of Canada (IBC) says there is a need to reduce inter-provincial barriers to trade, capital flows and labour mobility, particularly in light of policies put forth by the new administration set to take power in the United States on January 20.
They say in a recent note, P&C industry reiterates its call for regulators to remove barriers impeding labour mobility between provinces, that there is a growing imperative for Canadian policymakers to move swiftly to protect the Canadian economy. “Specifically, should a Canadian-U.S. trade dispute pose limitations on Canada’s ability to tap into American adjuster capacity, Canadian adjuster capacity will be tested like never before,” they write, noting the IBC’s most recent statistics about the cost of severe and frequent weather events which occurred in 2024, so far.
In the face of those disasters, there were a number of temporary measures implemented by insurance regulators which allowed expedited adjuster licensing for non-residents in one case and allowed insurers to use claims adjusters who had licenses from other provinces in others. Quebec also notably revised the maximum value of claims that could be handled by unlicensed employees from $7,500 to $30,000.
In its most recent note, the IBC repeats the call of a coalition of property and casualty associations, asking for Canadian regulators to establish a licensing reciprocity regime wherein adjuster licenses from one province would be recognized in all Canadian jurisdictions.
“This fragmented approach to licensing is a disservice to consumers, who benefit from the expeditious processing of claims, particularly during severe weather events,” they write. “There is simply no reasonable public policy rationale to justify this type of fragmented approach to licensing.
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