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Company director’s risk profile in D&O program is tied to company’s overall risk profile

October 13, 2010 by Canadian Underwriter

The risk profile of a company director is increasingly becoming synonymous with the risk profile of the entire company, according to Jordon Solway, general counsel and vice president at Munich Canada.Solway spoke at a D&O seminar sponsored by the Ontario

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Insurers must reassess reports to avoid special awards in arbitration

October 12, 2010 by Canadian Underwriter

Insurers not wishing to be vulnerable to special awards in arbitration must be prepared to reassess new information contradicting reports upon which the denial of a claim is based.In Sanmuganathan Elaiathamby and State Farm Mutual Automobile Insurance Company, Ontario’s insurance

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Ontario Superior Court dismisses claim that insurer’s investigation constituted abuse of process and conspiracy

October 8, 2010 by Canadian Underwriter

The Ontario Superior Court ruled that a plaintiff’s claim that an insurer’s investigation constituted abuse of process and conspiracy was scandalous, frivolous and vexatious. In Pontillo v. Zinger et. Al., Antoinetta Pontillo was involved in a car accident with Todd

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Insurer’s exemption ruled invalid because it is written in the present tense

October 7, 2010 by Canadian Underwriter

The Ontario Court of Appeal has ordered The Personal Insurance Company to defend two homeowners accused of negligently representing the condition of their home in a sale to others, because the exclusion meant to cover ‘breach of contract’ was written

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Lower discount rate in Ontario means adjourning trials into 2011 could cost insurers “several hundred thousand dollars”: lawyer

October 4, 2010 by Canadian Underwriter

The reduction of Ontario’s discount rate for catastrophic injury trials could significantly increase the future care and future loss of income costs for insurers, warns Stephen R. Moore, a lawyer with Blaney McMurtry.In the bulletin, Don’t Adjourn This Fall’s Large

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Insurers urged to get written conflict-of-interest statements from law firms and treatment/assessment facilities

October 4, 2010 by Canadian Underwriter

Insurers wishing to expose potential insurance fraud should be getting written conflict-of-interest statements from legal, treatment and assessment facilities, a fraud investigator suggests.Donna Ford, an insurance fraud investigator with Northwood & Associates, addressed the topic of insurance fruad at the

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Cooperation among insurers is the key to fighting fraud: special investigator

October 1, 2010 by Canadian Underwriter

Cooperation between insurers is the key to a successful automobile fraud investigation, according to Rick Muir, senior special investigator with Desjardins General Insurance Group, The Personal and Certas Direct Insurance Companies. Right now, however, many insurers are going at it

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U.S. plaintiff firms bankrolling, supporting Canadian securities class action suits

September 30, 2010 by Canadian Underwriter

Aggressive U.S. plaintiff firms are slowly creeping their way into Canadian securities class action suits, warned Jay A.R. Cassidy, a senior vice president at Marsh in Toronto.Cassidy addressed delegates at the 2010 RIMS Canada conference in Edmonton on Sept. 28

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European regulator engaged in a “failure of common sense”: Lloyd’s chairman

September 30, 2010 by Canadian Underwriter

European regulators are engaged in a “failure of common sense,” by crafting regulations to prevent a re-run of the financial crisis instead of focusing on strategies to promote the economic growth of the financial sector, Lloyd’s of London chairman Lord

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Proper notification of vacancy does not result in insurance coverage for vandalism of vacant property: Saskatchewan court

September 29, 2010 by Canadian Underwriter

The Queen’s Bench for Saskatchewan has upheld an insurer’s policy that excludes coverage for vandalism on a “vacant” property, despite the policyholders’ claim the policy remained in force because he had told the insurer about the vacancy within the 30-day

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Umbrella policy to provide ‘drop down’ coverage when absent in the primary policy

September 24, 2010 by Canadian Underwriter

Ontario’s Court of Appeal has ruled an ‘outside directorship liability’ (ODL) insurer had a duty to defend two lawyers and pay all related costs, despite the fact that the primary D&O policy also provided for a duty to pay for

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Defective work can be an “accident” covered by a commercial insurance policy: Supreme Court

September 23, 2010 by Canadian Underwriter

Defective workmanship can be interpreted as an “accident” under a Commercial General Liability (CGL) Policy, the Supreme Court of Canada has ruled, and “property damage” under a CGL is not necessarily limited to third-party property damage.In making this ruling in