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OSFI calls on board members to help avert next financial crisis

May 10, 2010 by Canadian Underwriter

Board directors of financial institutions “need to take better ownership for averting the next [financial] crisis,” says Canada’s solvency supervisor.This means board directors should take a more active role in supervising and the risk management decisions of corporate management, said

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Hiring a lawyer can be a “cost-efficient” way to manage some exposures in Ontario’s expanded claims court

May 7, 2010 by Canadian Underwriter

Hiring experienced counsel to help craft strategic offers of settlement might just be the most cost-effective way for an insurer to negotiate Ontario’s newly expanded small claims court, Todd J. McCarthy of Flaherty Dow Elliott & McCarthy told a Canadian

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Canada re-introduces auto theft legislation

May 5, 2010 by Canadian Underwriter

Canada’s Department of Justice has re-introduced a bill in the Senate that seeks to create a separate offence for motor vehicle theft and stop the trafficking of property obtained by crime.“Our government is taking action to protect Canadians, their property

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New Brunswick brings limitation periods in line with Ontario, Saskatchewan

May 4, 2010 by Canadian Underwriter

Recent changes to New Brunswick’s general limitation periods bring the province’s laws in line with those of Ontario and Saskatchewan.Section 5 of New Brunswick’s Limitation of Actions Act now provides that the “basic” limitation for motor vehicle accidents, claims in

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MPI argues competitive lines of business not subject to public disclosure

April 29, 2010 by Canadian Underwriter

Manitoba’s Public Utilities Board (PUB) has gone to the province’s appeal court to get Manitoba Public Insurance (MPI) to disclose financial information that would ensure Autopac rates are set fairly.The fact the PUB went to court became a topic of

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Ontario Appeal Court refines concept of damages “too remote” for recovery

April 27, 2010 by Canadian Underwriter

The Ontario Court of Appeal has refined the concept of “damages too remote for recovery,” recently distinguishing the fact situation in Frazer v. Haukioja from that of the Supreme Court of Canada case, Mustapha v. Culligan of Canada Ltd. In

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Finance Minister to meet with banks about banning insurance sales on banks’ Web sites

April 26, 2010 by Canadian Underwriter

Finance Minister Jim Flaherty expects to be sitting down with Canadian bank executives sometime over the next 10 days and discussing the government’s directive to remove insurance sales from their Web sites, according to media reports.Flaherty made the remarks to

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Ontario Appeal Court overturns decision that would have widened scope for taping defence medical examinations

April 23, 2010 by Canadian Underwriter

In a 3-2 decision, the Ontario Court of Appeal has reversed a lower court ruling that would have allowed taping of defence medical examinations in most (if not all) cases where a request is made, based on an alleged “systemic

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Ontario court re-asserts limits on how much plaintiff’s counsel can help client during discovery

April 21, 2010 by Canadian Underwriter

The Ontario Superior Court recently re-asserted the limits of how much a plaintiff’s counsel can help his or her client during an examination for discovery in an action concerning a motor vehicle accident.In Michael Madonis v. Julian G. Dezotti and

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Ontario Court of Appeal finds trial judge did not ‘double deduct’ IRBs from jury award

April 19, 2010 by Canadian Underwriter

As long as a trial judge has not directed a jury to deduct income replacement benefits (IRBs) from their jury award, the trial judge may deduct IRBs from the jury award without fear of “double deduction,” the Ontario’s Court of

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FSCO orders claimant to produce medical records of alleged prior accidents

April 15, 2010 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) has ordered a claimant to produce OHIP records and the clinical notes of his family doctor dating back to motor vehicle accidents that allegedly occurred up to five years prior to the 2005

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Alberta introduces bill to tighten restrictions on distracted drivers

April 15, 2010 by Canadian Underwriter

New legislation proposed by the Alberta government would restrict a vast number of activities behind the wheel, including personal grooming, manually inputting information into GPS or audio devices, CB radios (excluding commercial or search-and-rescue use) and texting. Bill 16, the