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Government institutes penalties for failing to file and inaccuracies in GST schedule

April 13, 2010 by Canadian Underwriter

Penalties will be applied to any financial institution that fails to file, or files with inaccuracies, the GST 111 schedule, said Cliff Lee, a senior manager at KPMG.Lee spoke at the Insurance Institute of Toronto’s At the Forefront Breakfast about

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Post-recession era ripe for economic crime: PwC

April 12, 2010 by Canadian Underwriter

Cost-cutting and downsizing during a recession can increase the risk of financial fraud in a post-recession landscape era, reports PricewaterhouseCoopers.A PwC Economic Crime Survey shows 56% of Canadian companies reported being victims of crime in 2009.“In a global economic downturn,

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Injury threshold in Ontario does not establish a “barrier” to jury award recovery: Ontario judge

April 12, 2010 by Canadian Underwriter

The threshold in Ontario for determining whether injuries are “serious” enough to warrant jury awards are not supposed to be treated as barriers by insurance defence counsel, an Ontario Superior Court Justice remarked in the threshold case, Nicolas v. Bowers.“I

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Insurer ordered to defend negligence claim, after insured sold and vacated property

April 9, 2010 by Canadian Underwriter

A recent Ontario Superior Court decision suggests that, depending on the wording of a policy and what is alleged, an insurer may be obliged to defend insureds who have made misrepresentations with respect to the sale of an item —

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Nova Scotia driver allowed to keep new license 20 years after his old license suspended for drunk driving: Appeal Court

April 7, 2010 by Canadian Underwriter

Nova Scotia’s Court of Appeal has ruled that the motor vehicle registrar was wrong to revoke the licence of a drunk driver 20 years after his license had been suspended, and then he obtained a new license under a changed

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Federal Court to hear State Farm’s challenge of privacy law

April 5, 2010 by Canadian Underwriter

The Federal Court of Canada in Halifax is scheduled to hear State Farm Mutual Automobile Insurance Company v. the Privacy Commissioner of Canada on Apr. 13, 2010.The case concerns State Farm’s challenge of the privacy commissioner’s jurisdiction in an insurance

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Pennsylvania court dismisses claims against Kingsway

April 1, 2010 by Canadian Underwriter

The Commonwealth Court of Pennsylvania has dismissed all claims against Kingsway and Kingsway America Inc. associated with the company’s donation of its Lincoln General shares to charities. Kingsway Financial Services Inc. announced the court has dismissed all claims in the

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CRTC reconsiders whether telephone insurance sales constitute telemarketing

March 31, 2010 by Canadian Underwriter

The Canadian Radio-television and Telecommunications Commission (CRTC) is re-considering whether or not the unsolicited sale of insurance products by agents or brokers to existing clients by telephone constitutes telemarketing.The commission has requested comments on the matter (the deadline to register

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A.M. Best affirms LAWPRO’s ‘A’ rating, changes outlook to negative

March 26, 2010 by Canadian Underwriter

A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of Lawyers’ Professional Indemnity Company (LAWPRO), but changed its outlook from stable to negative on the basis of an increased loss ratio and a one-time re-evaluation of reserves

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Onus is not on an insurer to prove the lack of a settlement agreement: FSCO

March 25, 2010 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) has reversed an arbitration decision that placed the onus on an insurer to prove that a disputed settlement offer of $17,000 had not been agreed upon.In Allstate Insurance Company of Canada and Edna

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Quebec regulator cancels registration of two firms; fines two more

March 24, 2010 by Canadian Underwriter

The Autorité des marches financiers (AMF) has cancelled the registration of two insurance firms and fined two others.The Quebec regulator cancelled Hampstead Cameron inc., a damage insurance firm’s registration, when Pierre Fecteau, the firm’s responsible officer, allegedly “made misrepresentations or

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B.C. Appeal Court orders ICBC to pay damages for injury sustained when vehicle is used to commit a crime

March 24, 2010 by Canadian Underwriter

B.C.’s Appeal Court has ordered the province’s public insurer to pay damages to a claimant who was injured by a van used to snatch her purse.Shirley Jane Hannah made a claim against the Insurance Corporation of British Columbia (ICBC) for