Topic
Legal
French mayor sentenced to prison for ignoring flood risks before deadly coastal storm
December 12, 2014 THE ASSOCIATED PRESSPARIS – A French court has sentenced a former mayor and his deputy to prison for ignoring flood risks and encouraging development in their Atlantic Coast town before aging sea walls collapsed in a 2010 storm that killed dozens. The…
Ontario should ask Ottawa regulate all insurers: Auditor General
December 11, 2014 by Canadian UnderwriterOntario’s Auditor General is suggesting that the Financial Services Commission of Ontario (FSCO) should establish formal agreements with errors and omissions (E&O) insurers to verify that life insurance agents are covered, among other recommendations made in her annual report. It…
U.S. House renews government terrorism insurance backstop, but Senate action in doubt
December 11, 2014 Andrew Taylor, THE ASSOCIATED PRESSWASHINGTON – The House Wednesday passed a long-sought legislation to renew a government program that’s credited with reviving the market for insurance against terrorist attacks after the Sept. 11 attacks. But the measure, despite passing by a 417-7 vote, has…
Recent Ontario auto insurance reforms could impact whole Canadian P&C market: A.M. Best
December 11, 2014 by Canadian UnderwriterWhat else happens with Ontario auto insurance in the wake of recently passed reforms meant to combat fraud and protect consumers could influence the Canadian property and casualty market as a whole, as well as have very different effects on…
NICB credits technology with reducing vehicle theft rate
December 11, 2014 by Canadian UnderwriterA private passenger vehicle in the United States is ‘statistically’ less likely to be stolen today than in 1960, but thieves are using new methods to steal vehicles and resell them, the National Insurance Crime Bureau says. Des Plaines, Ill.-based…
California prosecutors sue Uber over driver checks in ride hailing company’s latest legal woe
December 10, 2014 Paul Elias, THE ASSOCIATED PRESSSAN FRANCISCO – California prosecutors sued Uber over the ride-booking company’s driver background checks and other allegations, adding to the popular startup’s legal woes in the U.S. and around the world. The lawsuits filed Tuesday in San Francisco Superior Court…
Honda expands airbag recall to Canada; replacing inflators on 700K vehicles
December 9, 2014 THE CANADIAN PRESSTORONTO – Honda Canada is recalling some 700,000 vehicles in Canada to replace airbag inflators implicated in five deaths and a number of injuries in the U.S. and abroad. The action is part of a worldwide recall safety campaign initiated…
Ottawa tables bill imposing absolute liability of $1 billion on pipeline operators for spills
December 9, 2014 by Canadian UnderwriterThe federal government introduced Monday legislation intended to impose absolute liability, on major oil pipeline operators, of up to $1 billion in case of incidents such as spills, and to require them to have the “financial resources necessary to pay…
Tow truck drivers slow down Toronto commute to protest new auto insurance law
December 9, 2014 THE CANADIAN PRESSTORONTO – Tow truck drivers are slowing down the commute in the Toronto area today, as an estimated 1,500 of them head to Ontario’s legislature to protest a new auto insurance law. The drivers are making their way to Queen’s…
U.S. Supreme Court lets stand massive BP settlement with Gulf Coast residents, businesses
December 8, 2014 Janet McConnaughey, THE ASSOCIATED PRESSNEW ORLEANS – The Supreme Court is leaving in place BP’s multibillion-dollar settlement with lawyers for businesses and residents over the 2010 oil spill in the Gulf of Mexico. The justices did not comment Monday in rejecting the London-based oil…
Senate passes ship owners’ pollution insurance law
December 8, 2014 by Canadian UnderwriterCanada’s Senate last week passed one bill that would establish strict liability, for hazardous substance incidents, for ship owners and has sent a different bill proposing $1 billion in absolute liability, for the nuclear and offshore petroleum industries, to committee.…
Saskatchewan unveils changes to insurance regulation
December 8, 2014 by Canadian UnderwriterThe Saskatchewan government is introducing the first major revision to legislation governing insurance in five decades, a move meant to modernize requirements and bring provincial law in line with Alberta and British Columbia. The Insurance Act, which replaces The Saskatchewan…