Topic
Legal
ATV roll-over decision could help insureds who are denied coverage
March 23, 2023 Philip PoradoRecent granting of a plaintiff’s motion for summary judgement against an insurer in an all-terrain vehicle (ATV) overturn accident may make it easier for auto insurance policyholders to access their coverage. Ultimately, the decision may be of future benefit to…
Court sides with Trisura in $475K construction bond case
March 22, 2023 by David GambrillTrisura has successfully defended a $475,000-plus claim against it after a B.C. court found a construction subcontractor couldn’t prove it had a formal contract with the principal contractor named in Trisura’s labour and materials (L&M) payment bond. “I…do not accept…
Insurers urged to prepare for ‘metaverse’ liability
March 17, 2023 by David GambrillMost insurers are concerned about existing digital liability risks, but in as few as three years, they may be confronting commercial liability risks associated with immersive virtual environments known as the ‘metaverse,’ a Geneva Association (GA) survey of liability insurance…
A U.K. climate lawsuit Canadian D&O insurers may be following
March 15, 2023 by David GambrillA recent U.K.-based, climate lawsuit launched against Shell plc’s board of directors by NGO ClientEarth may lead to “copycat” litigation in Canada, lawyers warn, potentially affecting the D&O line of commercial insurance. “Corporate climate litigation is still in its infancy…
Two companies, one shareholder, only one named insured. What happens next?
March 14, 2023 by David GambrillA man who is the sole shareholder of two companies — one that owns a title deed to a building (and the only named insured on the policy), and one a commercial tenant of that same building — has an…
What the industry says about regulator’s draft corporate culture guidance
March 7, 2023 David GambrillCanada’s solvency regulator has refined its proposed guidance on corporate culture for P&C insurers, and it’s now consulting with the industry about its expectations. The Office of the Superintendent of Financial Institutions (OSFI) was scheduled to have a technical briefing…
P&C advisors’ class action certified against insurer over vacation/holiday pay
March 7, 2023 by David GambrillP&C insurance advisors for RBC Insurance Agency Ltd. have won a certification motion for a class action lawsuit against the insurer over how their vacation and holiday pay were determined. Also, the court conditionally certified a similar class action against…
Trial lawyers to intervene in important accident benefits case
March 2, 2023 by David GambrillOntario’s Superior Court has allowed the Ontario Trial Lawyers Association (OTLA) to intervene in an auto insurance case that will address whether a settlement agreement is enforceable when the injured claimant dies before accident benefits (AB) structured settlement instructions were…
Indigo refuses to pay ransom, warns stolen employee data may be posted to dark web
March 2, 2023 Brett Bundale - THE CANADIAN PRESSCanada’s biggest bookstore chain has warned employees that data stolen in a cyberattack may be posted on the so-called dark web after it refused to pay a ransom demand, Indigo Books & Music Inc. said Thursday. The retailer’s network was…
Why your commercial clients may be at risk of ESG legal action
March 1, 2023 by Alyssa DiSabatinoCanadian law firms are preparing for an uptick in environmental, social, and governance (ESG)-related legal cases, based on the rise of such cases in the U.S., a litigator tells Canadian Underwriter. ESG lawsuits occur when a company is taken to…
What the IFRS 17 temporary adjustments mean for insurers
February 24, 2023 by Alyssa DiSabatinoThe International Financial Reporting Standards 17 (IFRS 17) is now in place, but a temporary adjustment to the regulatory prudential limits related to investments, commercial lending and borrowing for P&C insurance companies will allow federally regulated insurers (FRIs) two years…
Court approves insurer’s settlement over COVID flight cancellations
February 23, 2023 by David GambrillOntario’s Superior Court has approved a $4.8-million settlement in a class action lawsuit related to the denial of travel insurance claims by TD Home and Auto Insurance for cancelled flights during the first months of the COVID-19 pandemic. During that…