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Establish a captive to augment risk operations, not to gain tax advantages

June 2, 2011 by Canadian Underwriter

Companies should not be establishing captive insurance entities simply to capitalize on tax advantages, a number of speakers cautioned at the 7th Annual Canadian Captives & Corporate Insurance Strategies Summit, held in Toronto on June 1.“We’d like to emphasize that

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Touching the Cloud

June 1, 2011 Craig Harris

The property and casualty insurance industry is in the early stages of discovering and applying cloud computing services. Many say a maturing market in cloud services could generate large returns in areas such as claims processing, collaboration and customer relationships.

Michael Teitelbaum
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Defending Property Vendors

June 1, 2011 Michael S. Teitelbaum, Senior Partner, Hughes Amys LLP

An Ontario court decision found an insurer has a duty to defend a property vendor after the sale of the insured’s home. It also suggested new wording for an “owned property” exclusion that might prevent similar situations from occurring in the future.

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RIMS Annual Conference & Exhibition

June 1, 2011 by Canadian Underwriter

Hundreds of exhibitors filled the Exhibit Hall at the RIMS 2011 Annual Conference & Exhibition in Vancouver. Held at the Vancouver Convention Centre, the show floor bustled with thousands of delegates from throughout North America and around the globe. The

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RIMS Canada Night

June 1, 2011 by Canadian Underwriter

The 2011 RIMS Conference and Exhibition was held on ‘home turf’ in Vancouver, but that didn’t stop Canadian delegates from gathering for Canada Night, sponsored by SCM Insurance Services and the Canadian Litigation Counsel. The event offered fellow Canadians a

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MarketPlace

June 1, 2011 by Canadian Underwriter

Canadian Market Mutual policyholders of The Economical vote against dissident proposal to replace board Mutual policyholders of The Economical Mutual Insurance Company voted 649-192 on May 26 against a motion that would have removed its current board of directors and

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IBC expresses concern about a proposed “interim” CAT definition possibly becoming a fraud magnet

May 31, 2011 by Canadian Underwriter

Responding to a proposed new definition for catastrophic (CAT) impairment, the Insurance Bureau of Canada (IBC) says two issues are central to insurers – upholding the use of “hospital admission” as a gatekeeper function for determining a catastrophic impairment, and

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RIMS 2011 Annual Conference & Exhibition

May 31, 2011 by

Vancouver was host to the RIMS 2011 Annual Conference & Exhibition May 1–5. The risk and insurance industry community took advantage of the exceptional beauty of the city and surroundings to hold and attend numerous receptions, special events, dinners and

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WICC Ontario annual gala dinner

May 31, 2011 by

WICC Ontario held its 15th annual gala dinner, ICONIC, on Apr. 13, 2011 at The Westin Harbour Castle Hotel in Toronto. WICC dinner co-chairs and evening emcees Michael Butler and Marian Adamson introduced WICC co-chairs Carolyn Horan and Jean Faulkner

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Ontario Divisional Court sets aside FSCO director delegate ruling in Pastore

May 31, 2011 by

The Ontario Divisional Court ruled in Aviva v. Pastore that the determination of a Class 4 (marked) or Class 5 (extreme) psychological impairment under subsection (g) cannot include consideration for pain associated with physical injuries. The decision reverses a Financial

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Supreme Court of Canada agrees to hear case of a rotten tree killing a young man seated in a parked car

May 31, 2011 by

The Supreme Court of Canada has granted leave to appeal the decision of the Quebec Court of Appeal in Ville de Westmount c. Richard Rossy et autres. Gabriel Rossy was killed in 2006 when a rotten tree fell on top

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A Tale of Two Cars

May 31, 2011 Daniel Strigberger

“I know a lot about cars, man. I can look at any car’s headlights and tell you exactly which way it’s coming.” – Mitch Hedberg, comedian The Financial Services Commission of Ontario (FSCO) has decided that 2011 will be the