Topic
Legal
Sweat the Small Stuff
November 2, 2012 Eduard Goodman, Attorney, Privacy Expert and Chief Privacy Officer, Identity Theft 911Losing USB flash drives, using weak passwords and having unprotected networks are among the everyday scenarios that make up most data security breaches. Still, small and midsize companies appear not to be sufficiently prepared to avert the potentially costly effects of cyber exposures.
Pension Puzzle
November 2, 2012 Craig Harris, Freelance WriterDirectors and officers are becoming more exposed to liabilities involving private pension plans. And depending on the risk and circumstances, they may – or may not – be covered by insurance.
Clarifying Condo Coverage
November 2, 2012 Sharon Vogel; Partner, Construction, Engineering, Surety and Fidelity Group; Borden Ladner Gervais LInsurance requirements for a condominium project during construction and a condominium after construction has been completed are very different. Mitigation of risks demands that that difference be appropriately addressed.
Defence Duo
November 2, 2012 Michael Teitelbaum, Partner, Hughes Amys LLPAn Ontario court has held that both an auto and a home insurer are obliged to defend in an action for personal injury because of the potential for concurrent liability. With all facts not yet available, the judge signalled he was not prepared to permit one of two insurers to avoid a possible duty to defend or indemnify.
New privacy regulation requires “mature” corporate governance: Lawyers
October 25, 2012 by Canadian UnderwriterWith the increase in data flowing over electronic networks, insurance firms need to take heed to a privacy management document released earlier this year by regulators, two lawyers suggested at a recent industry event. A guidance document, titled Getting Accountability…
Four insurance companies reach tentative agreement on 1998 ice storm lawsuit
October 23, 2012 by Canadian UnderwriterFour of the 19 insurance companies named in a class action lawsuit launched by consumer association Option consommateurs following the 1998 ice storm in Ontario and Quebec have agreed to pay $12.5 million, without admitting liability. The tentative agreement was…
New product aims to help small businesses avoid heavy commercial vehicle legal costs
October 22, 2012 by Canadian UnderwriterSpecialty legal expense insurer DAS Canada has launched a new product to help protect small businesses from major legal costs associated with their commercial vehicles. DAStransport is meant to “fill the gaps in traditional commercial vehicle insurance coverage,” the company…
How the time-out at Queen’s Park will affect the auto and property insurance industry
October 16, 2012 by Canadian UnderwriterWith the Ontario legislature prorogued, several measures that would affect the industry, including efforts to fight auto insurance fraud, will be delayed, according to officials with two industry associations. On Monday night, Premier Dalton McGuinty announced he would be stepping…
Study indicates average cost of data breach increases to $3.7 million
October 10, 2012 by Canadian UnderwriterLegal damages accounted for the majority of the $3.7 million average cost per data breach that occurred between 2009 and 2011, notes a new whitepaper from NetDiligence, based in Philadelphia. Cyber Liability & Data Breach Insurance Claims: A Study of…
XL Foods admits food safety protocols were lacking after beef recall expands again
October 5, 2012 by Canadian UnderwriterXL Foods, the producer involved in a major beef product recall, has said it takes full responsibility for its facilities and the food there, and will work to improve plant standards. In an Oct. 4 statement published by several media…
Virtual Protection
October 1, 2012 Craig HarrisRegulators in Canada are examining whether or not electronic commerce practices in insurance meet consumer protection standards. While the internet has exploded in terms of comparison price shopping and research, the ability to “buy and bind” raises key issues about customer access to advice from licensed professionals and appropriate safeguards. It is a discussion that is, in some areas, pitting brokers against direct insurers.
On Notice
October 1, 2012 Hugh Fardy, Senior Vice President, The CG&B Group Inc.Brokers are well-advised to get acquainted with the common definitions contained in every professional liability policy to fulfill their obligation to provide prompt notice – and to protect themselves.