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William Olson named Winnipeg Insurance Lawyer of the Year

November 30, 2010 by Canadian Underwriter

E. William Olson has been named the Winnipeg Insurance Lawyer of the Year for 2011. A partner at Thompson Dorfman Sweatman LLP (TDS), Olson was bestowed the honour by Best Lawyers, a peer-review publication in the legal profession. “We continue

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Police charge Toronto man in connection with insurance fraud scheme

November 25, 2010 by Canadian Underwriter

A Toronto man has been charged in connection with an insurance fraud investigation. According to Toronto police, the fraud scheme involved a paralegal who said he was operating under Royal Sun and Alliance Company, using ‘Executive Brokers’ as the name

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Canada Revenue Agency confirms business income from Barbados “exempt insurance companies” can be repatriated to Canada free of Canadian tax

November 25, 2010 by Canadian Underwriter

The Canada Revenue Agency (CRA) has confirmed that business income earned by a Barbados “exempt insurance company” (EIC) may generally be repatriated to Canada free of Canadian tax, despite the EIC being subject to a very low amount of tax

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New Brunswick introduces distracted driving legislation

November 24, 2010 by Canadian Underwriter

New Brunswick is the latest province to introduce legislation combating distracted driving, prompting the praise of Insurance Bureau of Canada (IBC).New Brunswick’s proposed law would prohibit, while driving, the use of any electronic device with a display screen, communication device

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Insurer accounting standard draft contains “fundamental” changes for Canadian insurers: PwC

November 23, 2010 by Canadian Underwriter

The most recent International Accounting Standards Board draft contains fundamental changes that would alter existing Canadian P&C valuation methods and the way that insurers’ income is presented, PricewaterhouseCooper’s said in its Fall 2010 Insurance Review.The proposals are the result of

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Canadian securities regulators look for improved disclosure of executive compensation

November 22, 2010 by Canadian Underwriter

Canadian securities regulators are seeking public comment on proposed rule changes that would enhance the quality of disclosure of executive compensation.“The proposals clarify existing requirements and introduce new substantive requirements to enhance the quality of information disclosed by public companies

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B.C. Insurance Council places restrictions on SSEI Insurance Agency, suspends license of its sole officer and director

November 22, 2010 by Canadian Underwriter

The Insurance Council of British Columbia has placed conditions on the license of SSEI Insurance Agency and suspended the license of its sole officer and director, Nicholas Di Perno, pending an investigation of misconduct allegedly occurring at the sports and

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Ontario arbitrator orders claimant to produce insurer with two years’ worth of medical, prescription records in non-earner benefits case

November 18, 2010 by Canadian Underwriter

An Ontario arbitrator has ordered a claimant to provide his insurer, Aviva Canada, with two years’ worth of medical and prescription records in a non-earner benefits case.This is one year beyond the standard practice of requiring production of only one

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IBC applauds feds for auto theft legislation

November 18, 2010 by Canadian Underwriter

Insurance Bureau of Canada (IBC) is applauding the federal government for passing Bill S-9, known as the Tackling Auto Theft and Property Crime Act. “IBC has worked tirelessly with our partners in law enforcement and with key members of Parliament

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Newfoundland and Labrador enacts new impaired and distracted driving laws

November 17, 2010 by Canadian Underwriter

The Government of Newfoundland and Labrador has recently enacted its new impaired and distracted driving laws.The legislative changes authorize police to use traffic safety stops as a means of determining whether drivers are impaired, driving while suspended or driving without

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“Pollution exclusion” applies to home-heating fuel oil tank leak: B.C. Supreme Court

November 16, 2010 by Canadian Underwriter

The B.C. Supreme Court has upheld a “pollution exclusion” in a residential property damage case, in which an above-ground storage tank for home-heating fuel oil leaked and damaged the insured’s vacation home.In Corbould v. BCAA Insurance Corporation, the insured’s property

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B.C. Court reaffirms validity of amending fundamental contract terms by way of endorsement

November 16, 2010 by Canadian Underwriter

A British Columbia Supreme Court decision in January 2010 has reaffirmed the validity of amending the fundamental terms of a marine insurance contract by an endorsement, according to an article published by Borden Ladner Gervais LLP.In the article, Beware of