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Legal


Feature Claims CanadaLegal

Ontario courts expand interpretation of “ordinary drivers”: RIMS panelist

September 30, 2011 by

The interpretation of ‘ordinary driver’ in Ontario’s courts has expanded to include those drivers who “sometimes make mistakes,” and has thus increased municipalities’ exposure to liability for not keeping safe roads. Steven Stieber, a managing partner at Stieber Burlach LLP,

Feature Claims CanadaLegal

Man injured while repairing a truck was not involved in an “accident”: Ontario arbitrator

September 30, 2011 by

A man who sustained a head injury while repairing a truck is not eligible for accident benefits because repairing a vehicle does not constitute “the use” of a vehicle, and hence the man was not involved in a motor vehicle

Feature Claims CanadaLegal

Ontario court criticizes insurer for not inspecting fine art collection prior to binding coverage in fire case

September 30, 2011 by

The Ontario Superior Court of Justice ruled against awarding punitive damages against Chubb Insurance Company of Canada in a case involving the destruction of a high-end art collection in a 1997 fire. In doing so, however, the court ruling took

News InsuranceLegal

Insurers leaving “hundreds of millions” on the table by not pursuing subrogation claims

September 29, 2011 by Canadian Underwriter

Insurers need to consider potential indemnity and not just costs in deciding whether to pursue subrogation claims, according to panelists at the National Insurance Conference of Canada (NICC).Subrogation is a term used when an insurer tries to recover costs it

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Class action lawsuit certifications on the rise

September 28, 2011 by Canadian Underwriter

Certification of class action lawsuits is on the increase, raising tactical questions about whether defendant insurers should even bother fighting certification, or simply fight the good fight at trial. Laura Cooper, partner at Fasken Martineau, discussed class action statistics and

News AssociationsInsuranceLegalMergers and Aqcuisitions

Auto theft being used to fund terrorist activity: IBC

September 26, 2011 by Canadian Underwriter

Evidence suggests auto theft in Canada is being used to fund international terrorist activities, Rick Dubin, vice president of investigative services at the Insurance Bureau of Canada (IBC), told delegates of the National Insurance Conference of Canada (NICC). Although auto

News InsuranceLegalMergers and Aqcuisitions

IBAO pushes for administrative monetary penalties in Ontario

September 22, 2011 by Canadian Underwriter

The Insurance Brokers Association of Ontario (IBAO) is urging the Financial Services Commission of Ontario (FSCO) to include administrative monetary penalties (AMPs) in the Insurance Act.Currently, FSCO can issue a cease and desist order, often in conjunction with an undertaking

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Proof of mental anguish enough to sustain third party actions in privacy breach

September 21, 2011 by Canadian Underwriter

Victims of a privacy breach may no longer have to rely on proving economic loss as a result of the privacy breach to sustain a third party action. They can also show the breach caused mental anguish.Aaron Konarsky, director of

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Model proposed for regulating insurance securitizations in Canada

September 21, 2011 by Canadian Underwriter

Assuming insurance-linked securities (ILS) ever take off in Canada, the country will need to develop a regulatory regime to accommodate them, according to an article in the Q2-2011 MSA/Baron Outlook Report.The article, written by Robert McDowell and Koker Christensen of

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Causal link for SEC to go after Canadian companies is “minute”

September 20, 2011 by Canadian Underwriter

Regulators around the world are cracking down on corrupt practices, putting companies at increased risk of “crippling” prosecution and, in some situations, the causal link between a company and the claim need only be minute for a foreign regulator to

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Ontario court criticizes insurer for not inspecting fine art collection prior to binding coverage in fire case

September 14, 2011 by Canadian Underwriter

The Ontario Superior Court of Justice ruled against awarding punitive damages against Chubb Insurance Company of Canada in a case involving the destruction of a high-end art collection in a 1997 fire. In doing so, however, the court ruling took

News InsuranceLegal

Guy Carpenter report predicts EU regulators will work out kinks related to assessing counterparty risk in Solvency II

September 13, 2011 by Canadian Underwriter

Global risk and reinsurance specialist Guy Carpenter said it is expecting additional changes in Solvency II that will simplify the calculation of counterparty default risk, which has been criticized for its “overly complex approach.”A key component of Solvency II is