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NDP bill would ban territory as auto insurance rating factor

May 23, 2012 by Canadian Underwriter

Insurance Bureau of Canada (IBC) is urging Ontario MPPs to vote down an NDP private member’s bill that would ban the use of territory as a rating factor in auto insurance. Any reduction in premiums for constituents in some areas

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Employers increasingly held liable for crashes involving employees’ use of cellphones while driving: U.S. report

May 22, 2012 by Canadian Underwriter

U.S. corporations are increasingly being held liable for crashes involving employees using their cellphones while driving, signalling the need for companies to ban cellphone use while behind the wheel, a recent National Safety Council (NSC) study says. Appendix B of

News InsuranceLegalMergers and Aqcuisitions

Using your captive to release escrow funds

May 18, 2012 by Canadian Underwriter

Frequently formed to ensure sufficient capital during hard insurance markets, captive insurance companies can also be used creatively to facilitate business opportunities, noted Paula Gentile of MGM Resorts International. Gentile, senior vice president of risk management and general counsel for

News InsuranceLegal

Establishing a multi-year government captive program in the context of an annual budget appropriation cycle

May 18, 2012 by Canadian Underwriter

How do you establish and operate a multi-year government captive insurance program within the context of a government’s annual budget appropriation cycle? This was the biggest challenge in establishing the British Columbia government’s risk-pooling programs through a captive, said Phil

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Dog bite claims in 2011 cost about $1 million: State Farm Canada

May 18, 2012 by Canadian Underwriter

Dog bites in the three Canadian provinces in which State Farm operates chewed up slightly more than $1 million in claims costs last year. In 2011, State Farm paid out $917,670 for 25 claims in Ontario, $99,800 for the two

News InsuranceLegalMergers and Aqcuisitions

Driver of vehicle without owner’s consent still qualifies for coverage: FSCO

May 17, 2012 by Canadian Underwriter

A Financial Services Commission of Ontario (FSCO) arbitrator has ruled a 17-year-old driver who suffered serious injuries in an accident should receive non-earner benefits even though it is alleged he was driving a car without the owner’s consent. The main

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Quebec coroner calls for measures to prevent people from driving while fatigued

May 16, 2012 by Canadian Underwriter

In the wake of a crash in 2010 that killed three cyclists training for a triathlon, Quebec’s coroner is calling on Transport Canada to require manufacturers to equip vehicles with a system for detecting drowsiness and loss of driver alertness.

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No need for damages to be formally quantified before a plaintiff can launch action against own insurer in underinsured motorist case

May 15, 2012 by Canadian Underwriter

A plaintiff does not need to have damages quantified by settlement or judgment before proceeding with an action against his own insurer under the inadequately insured motorist provision of an auto insurance policy, the Ontario Court of Appeal has ruled.

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FSCO proposes aligning Ontario’s solvency standards with international standards

May 11, 2012 by Canadian Underwriter

There would be no need for Ontario to maintain a separate and duplicative solvency regime for the few such companies that remain in the province under a Financial Services Commission of Ontario (FSCO) proposal. FSCO’s consultation paper, Improving Solvency Supervision

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Opportunity exists for B.C. condo unit owners to challenge fairness of deductible downloading bylaws

May 11, 2012 by Canadian Underwriter

B.C. condo unit owners have yet to take a run at challenging the fairness of deductible downloading bylaws of strata corporations, although case law seems aligned for such an opportunity. Krista Prockiw of Alexander Holburn Beaudin & Lang LLP mentioned

News InsuranceLegal

Finance department receives mixed feedback on P&C demutualization

May 11, 2012 by Canadian Underwriter

A summary of submissions to the federal government on demutualization shows some important differences in viewpoints on how mutual property and casualty insurers should be allowed to become share companies. The Department of Finance received more than 80 submissions from

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Applying insurance deductibles to a condo building infested with marijuana grow-ops

May 11, 2012 by Canadian Underwriter

Here’s a quick math question for strata insurance experts: If there is a $50,000 policy deductible for each “occurrence” of illegal drug activity losses, and 29 out of 90 condo units in a single building are damaged because of marijuana