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Ontario lawyers see professional indemnity premium rate increases

September 25, 2009 by Canadian Underwriter

A continuing increase in the number and costs of claims, a decline in investment income and the anticipated affect of the harmonized sales tax have all caused the Lawyers’ Professional Indemnity Company (LAWPRO) to increase its base premium for next

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California attorney general to investigate credit agencies’ possible role in financial crisis

September 21, 2009 by Canadian Underwriter

California’s attorney general, Edmund G. Brown, has issued subpoenas to Standard & Poor’s, Moody’s and Fitch as part of an investigation into whether or not the credit agencies’ role fuelled the financial crisis.“Standard & Poor’s, Moody’s and Fitch put their

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Ontario to change Rules of Civil Procedure to expedite court processes, but jury out on savings to insurers

September 16, 2009 by Canadian Underwriter

Upcoming changes to Ontario’s Rules of Civil Procedure are designed to expedite cases before the courts, but insurers shouldn’t expect huge savings in claims costs as a result of the changes, one counsel cautions.On their face, the changes would appear

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Ontario court finds province’s stunt-driving law to be unconstitutional

September 14, 2009 by Canadian Underwriter

An Ontario Court Justice has struck down Ontario’s new “stunt driving” legislation as unconstitutional.The legislation, introduced in 2007, outlines several factors defining “stunt driving,” including “driving a motor vehicle at a rate of speed that is 50 km-h or more

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Several inflationary factors to threaten (re)insurers over the next 2-5 years: Guy Carpenter briefing

September 10, 2009 by Canadian Underwriter

Higher inflation in a variety of forms is expected to develop into a threat to long-tail (re)insurers sometime over the next two to five years, a Guy Carpenter briefing says.Written by Guy Carpenter managing director David Lewin, the briefing warns

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FSCO denies claim for caregiver and housekeeping benefits

August 26, 2009 by Canadian Underwriter

A Financial Services Commission of Ontario (FSCO) arbitrator has denied an insured’s claim for caregiver benefits and housekeeping/home maintenance benefits following a vehicle collision.Mohammad Asghar was injured in a motor vehicle accident on Aug. 2, 2006. He applied for and

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What’s New: In Brief (August 20, 2009)

August 20, 2009 by Canadian Underwriter

Carstar’s 12th annual industry conference acknowledged Carstar franchise owners who have demonstrated distinguished service and outstanding leadership. This year’s President’s Club recipients include: •    Carstar Kitchener Victoria Street, Ontario; •    Carstar Brossard, Quebec; •    Carstar Kingston Ontario; •    Carstar Sudbury,

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What’s New: In Brief (August 11, 2009)

August 11, 2009 by Canadian Underwriter

ICBC has been awarded more than Cdn$600,000 in damages and interest by the B.C. Supreme Court after a lengthy trial related to an insurance fraud ring. The Supreme Court ruled in Insurance Corporation of British Columbia v. Suska that a

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Securities fraud suit filings outpace securities class action suit filings

August 5, 2009 by Canadian Underwriter

The number of securities lawsuits filed in the United States dropped significantly in 2009 Q2 when compared to the first quarter of this year, but the decrease may only represent a temporary lull, reports Advisen.One hundred and forty securities cases

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Arbitrator in priority case not allowed to consider quality of insurer’s investigation after 90-day notice period is over: Ontario court

July 23, 2009 by Canadian Underwriter

If an Ontario auto insurer disputes its priority to pay no-fault accident benefits after the statutory 90-day notification period is over, an arbitrator oversteps his or her bounds by considering the quality and/or timing of the insurer’s investigation after the

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Alberta auto cap heads to Supreme Court of Canada

July 22, 2009 by Canadian Underwriter

Alberta’s auto cap legislation is going to the Supreme Court of Canada. The Alberta Court of Appeal ruled in June that a Cdn$4,000 cap on insurance claims for minor auto injuries does not infringe the Canadian Charter of Rights and