Topic
Legal
Insurance industry sees spike in PIPEDA-related complaints
October 6, 2009 by Canadian UnderwriterThe insurance industry yielded 17% of the Personal Information and Electronic Documents Act (PIPEDA)-related complaints lodged in 2008.Last year there were 442 new complaints in total, marking an increase from 2007’s 350 complaints. Financial institutions as a whole took the…
What’s New: In Brief (October 06, 2009)
October 6, 2009 by Canadian UnderwriterA North Vancouver man has been fined Cdn$4,000, double what the Crown asked for, after totalling his boss’ truck and telling police it had been stolen. Rodney Dean Johnson, 26, was driving along Highway 1 in North Vancouver on Jun.…
Ontario lawyers see professional indemnity premium rate increases
September 25, 2009 by Canadian UnderwriterA continuing increase in the number and costs of claims, a decline in investment income and the anticipated affect of the harmonized sales tax have all caused the Lawyers’ Professional Indemnity Company (LAWPRO) to increase its base premium for next…
California attorney general to investigate credit agencies’ possible role in financial crisis
September 21, 2009 by Canadian UnderwriterCalifornia’s attorney general, Edmund G. Brown, has issued subpoenas to Standard & Poor’s, Moody’s and Fitch as part of an investigation into whether or not the credit agencies’ role fuelled the financial crisis.“Standard & Poor’s, Moody’s and Fitch put their…
Ontario to change Rules of Civil Procedure to expedite court processes, but jury out on savings to insurers
September 16, 2009 by Canadian UnderwriterUpcoming changes to Ontario’s Rules of Civil Procedure are designed to expedite cases before the courts, but insurers shouldn’t expect huge savings in claims costs as a result of the changes, one counsel cautions.On their face, the changes would appear…
Ontario court finds province’s stunt-driving law to be unconstitutional
September 14, 2009 by Canadian UnderwriterAn Ontario Court Justice has struck down Ontario’s new “stunt driving” legislation as unconstitutional.The legislation, introduced in 2007, outlines several factors defining “stunt driving,” including “driving a motor vehicle at a rate of speed that is 50 km-h or more…
Several inflationary factors to threaten (re)insurers over the next 2-5 years: Guy Carpenter briefing
September 10, 2009 by Canadian UnderwriterHigher inflation in a variety of forms is expected to develop into a threat to long-tail (re)insurers sometime over the next two to five years, a Guy Carpenter briefing says.Written by Guy Carpenter managing director David Lewin, the briefing warns…
FSCO denies claim for caregiver and housekeeping benefits
August 26, 2009 by Canadian UnderwriterA Financial Services Commission of Ontario (FSCO) arbitrator has denied an insured’s claim for caregiver benefits and housekeeping/home maintenance benefits following a vehicle collision.Mohammad Asghar was injured in a motor vehicle accident on Aug. 2, 2006. He applied for and…
What’s New: In Brief (August 20, 2009)
August 20, 2009 by Canadian UnderwriterCarstar’s 12th annual industry conference acknowledged Carstar franchise owners who have demonstrated distinguished service and outstanding leadership. This year’s President’s Club recipients include: • Carstar Kitchener Victoria Street, Ontario; • Carstar Brossard, Quebec; • Carstar Kingston Ontario; • Carstar Sudbury,…
What’s New: In Brief (August 11, 2009)
August 11, 2009 by Canadian UnderwriterICBC has been awarded more than Cdn$600,000 in damages and interest by the B.C. Supreme Court after a lengthy trial related to an insurance fraud ring. The Supreme Court ruled in Insurance Corporation of British Columbia v. Suska that a…
Securities fraud suit filings outpace securities class action suit filings
August 5, 2009 by Canadian UnderwriterThe number of securities lawsuits filed in the United States dropped significantly in 2009 Q2 when compared to the first quarter of this year, but the decrease may only represent a temporary lull, reports Advisen.One hundred and forty securities cases…
Arbitrator in priority case not allowed to consider quality of insurer’s investigation after 90-day notice period is over: Ontario court
July 23, 2009 by Canadian UnderwriterIf an Ontario auto insurer disputes its priority to pay no-fault accident benefits after the statutory 90-day notification period is over, an arbitrator oversteps his or her bounds by considering the quality and/or timing of the insurer’s investigation after the…