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Bruce Thomas honoured for 50 years of practicing insurance law

October 29, 2010 by Canadian Underwriter

The Law Society of Upper Canada is recognizing Bruce Thomas, a founding partner of Thomas Gold Pettingill LLP, for practicing law for 50 years. Thomas specializes in insurance law and will be granted a lifetime membership in the Law Society

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Real estate E&O cases particularly difficult to defend: lawyer

October 29, 2010 by Canadian Underwriter

Insuring real estate professionals on a E&O policy is particularly challenging for underwriters because of the vulnerability of appraisers, the fact that plaintiff’s experts are only too willing to testify against their own, and trials are highly emotionally charged and

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E&O insurers should take an interest in inquests, disciplinary hearing “sideshows”

October 29, 2010 by Canadian Underwriter

Insurers defending professionals should be aware of inquest or disciplinary hearings involving insureds, even if these ‘sideshow’ proceedings are not covered under E&O policies, because of the potential impact the proceedings may have on a subsequent civil action that does

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Psychological and physical injuries cannot be combined to determine catastrophic impairment: Ontario Superior Court

October 28, 2010 by Canadian Underwriter

Percentage determinations of psychological impairments cannot be added to percentage determinations of physical impairments to determine whether or not a person has suffered a whole person ‘catastrophic impairment’ under the Statutory Accidents Benefits Schedule (SABS), the Ontario Superior Court of

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Bad faith no longer necessary for monetary awards for breach of Charter rights: Supreme Court of Canada

October 28, 2010 by Canadian Underwriter

Bad faith is no longer a necessary requirement for awarding monetary damages for the breach of a Charter right following a recent Supreme Court of Canada decision, Blaney McMurtry LLP reported in its Insurance Observer.In Vancouver (City) v Ward, a

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Ontario arbitrator notes insurers must take more care in a post-DAC world

October 27, 2010 by Canadian Underwriter

An Ontario arbitrator has granted a special award against an insurer that terminated income replacement benefits to a claimant, on the basis that the insurer uncritically relied on a vocational assessment that appeared to have been the product of what

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OSFI calls on insurers’ actuaries to account for changes in estimated claims liabilities

October 26, 2010 by Canadian Underwriter

Canada’s solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI), is requiring the actuaries of property and casualty insurance companies to account for changes in the insurers’ estimated claims liabilities.This change will affect the standard annual filing of

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Just a few steps separate slip-and-fall liability from accident benefits

October 26, 2010 by Canadian Underwriter

Just a few steps can mean the difference between a slip-and-fall case and auto insurance accident benefits payments, as illustrated in an arbitration decision issued by the Financial Services Commission of Ontario (FSCO).In Fee Nung Wong and St. Paul Fire

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AMF launches proceedings against unlicensed firms distributing policies on behalf of “non-existent” insurer

October 26, 2010 by Canadian Underwriter

The Autorité des marchés financiers (AMF) launched penal proceedings against Water Safety Services (WSS), International Water Safety Foundation (IWSF) and Alexandre Beaudoin Bonotto, president of WSS, for allegedly issuing insurance certificates without being licensed.An AMF investigation found that IWSF, a

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Ontario’s insurance regulator needs to get tougher on market misconduct issues: CEOs

October 22, 2010 by Canadian Underwriter

Ontario’s insurance regulator needs to get tougher on market misconduct, insurance company CEOs told brokers at the Insurance Brokers Association of Ontario (IBAO)’s 90th Annual Convention in Niagara Falls.Suggestions at the IBAO’s CEO panel discussion included:• a more transparent method

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B.C. insurance broker association to act as intervenor in privacy complaint about credit scoring and insurance

October 21, 2010 by Canadian Underwriter

The Insurance Brokers Association of B.C. (IBABC) is acting as an intervenor in the province’s first complaint to the B.C. Privacy Commissioner about the use of credit scoring in an insurance transaction. Currently, it is legal for insurers in B.C.

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Ontario PC Party Leader Tim Hudak vows to get tough on auto insurance fraud

October 21, 2010 by Canadian Underwriter

Tim Hudak, leader of the Ontario Progressive Conservative Party, has vowed to crack down on fraudsters working in the auto insurance system should he become premier. Hudak addressed the Insurance Brokers Association of Ontario’s 90th Annual Convention in Niagara Falls