Topic
Legal
FICOM will no longer perform bankruptcy, criminal record checks for prospective insurance company directors, executives
July 20, 2011 by Canadian UnderwriterBritish Columbia’s Financial Institutions Commission (FICOM) will no longer perform bankruptcy or criminal record checks for directors, senior officers or significant shareholders of insurance companies or captive insurers.Instead, candidates for these positions will have to bankroll their own criminal record…
Canadian insurance defence firm first to join U.S. network
July 19, 2011 by Canadian UnderwriterKelly Santini LLP, an Ottawa-based law firm with a large insurance defence group, is the first Canadian firm to join USLAW Network.USLAW Network is a national organization of more than 60 independent member firms covering 47 states, Canada and Latin…
Insurers should consider a blackout provision as an excluded peril after court decision in Caneast: lawyer
July 19, 2011 by Canadian UnderwriterThe Ontario Court of Appeal’s decision in Caneast Foods Limited v. Lombard General Insurance Company of Canada demonstrates the limitations on insurers that attempt to use catch-all exclusions in insurance policies, according to Hartley Lefton of McMillan LLP.In a paper…
Changes to Alberta Insurance Act to come into effect on July 1, 2012
July 18, 2011 by Canadian UnderwriterAlberta’s department of finance and enterprise has outlined changes to the Alberta Insurance Act that will go into effect on July 1, 2012.Legislative amendments to the act include the following:•Legislation will require statutory conditions to be incorporated into multi-peril property…
IBC calls for regulation of medical assessment clinics
July 15, 2011 by Canadian UnderwriterThe insurance industry is calling for the accreditation and regulation of assessment clinic ownership to help put the brakes on fraudulent accident benefits claims. Fake accident treatment charges are costing insurers roughly $1.3 billion, a recent Toronto Star article says,…
Legal counsel for AB claimant not required to docket hours to receive credit at upper end of scale for hours worked: FSCO arbitrator
July 14, 2011 by Canadian UnderwriterLegal counsel representing claimants in Ontario arbitrations are not required to docket their hours in order for claimants to receive their legal expenses at the high range of the scale determining hours worked, an Ontario arbitrator has ruled. In Kamal…
Europe proposes moving Solvency II deadline to Jan. 1, 2014, but insurers encouraged to work toward current Jan. 1, 2013 deadline
July 11, 2011 by Canadian UnderwriterInsurance companies are being encouraged to continue working towards a Jan. 1, 2013 Solvency II implementation date, even though The Council of the European Union has proposed a delay of the final Solvency II deadline until January 1, 2014. Solvency…
Changes to Ontario law make it easier for out-of-province insurance agents, adjusters to obtain equivalent licence in Ontario
July 8, 2011 by Canadian UnderwriterRecent changes to the Agreement on Internal Trade (AIT) and the Ontario Labour Mobility Act are now in effect, making it easier for licenced general insurance agents and adjusters outside Ontario to apply for and receive a licence in Ontario…
Insurance Council of Manitoba recommends restricted license as way to regulate incidental sales of insurance
July 7, 2011 by Canadian UnderwriterThe Insurance Council of Manitoba is recommending to the Government of Manitoba that the incidental sale of insurance be regulated by way of a restricted insurance agent license.The approach is similar to that taken in Alberta and Saskatchewan.Under the council’s…
B.C. changes Insurance Act to protect co-insureds
July 7, 2011 by Canadian UnderwriterB.C. has changed its Insurance Act to protect innocent co-insureds from coverage exclusions if a loss is caused by the criminal act of another person co-insured on the same policy.Based on the wording of the law, a policy exclusion would…
Making the case for legal expense insurance in Canada
July 6, 2011 by Canadian UnderwriterAccess to a lawyer or the legal system is increasingly difficult for middle-class Canadians, creating a demand for legal expense insurance (LEI), Barbara Haynes, president and CEO of DAS Canada said. During an interview with Canadian Underwriter, Haynes and Dr.…
Insurers need to discuss restricted activities with clients, in light of arbitrator’s ruling in Ontario limo “stripper pole” case: lawyer
July 5, 2011 by Canadian UnderwriterA McMillan LLP article says insurance companies should be discussing any expectations placed on clients and restrictions on activities permitted on insured premises or within an insured vehicle, based on an Ontario arbitrator’s ruling in Whipple v. Economical Mutual Insurance…