Canadian Underwriter

Topic Legal

Reconstruction of a drainage ditch in the middle of a forest.
News ClaimsCommercialConstructionInsurersLegal

Insurer loses $255,000 subrogation claim over modified excavator

June 9, 2023 by David Gambrill

AIG Insurance Company lost a $255,275 subrogation claim Tuesday on behalf of its insured, a forest management and logging company, because the insured could not prove a fire to an excavator it bought from Volvo didn’t start because of an

Girl after shopping discovered the loss of her automobile. Angry woman talking about missing car on phone. Vehicle theft concept
News ClaimsCommercial AutoEmerging RisksInsurersLegalLoss TrendsOntarioPersonal Auto

Auto insurers pay out record amount for auto theft

June 8, 2023 by David Gambrill

Supply chain issues are creating a hot domestic market for stolen vehicles, which in 2022 cost Canadian property and casualty auto insurers more than an estimated $1 billion — the most the industry has ever paid for auto theft in

Happy car salesman showing a car to his customer in a showroom.
News B.C.BrokersCommercialCommercial AutoInsurersLegalPersonal AutoPersonal HomeProperty

Province to launch restricted licence for incidental insurance

June 6, 2023 by David Gambrill

B.C.’s broker regulator, the Insurance Council of B.C., is now consulting on a proposed new restricted licensing framework to regulate the sale of incidental insurance, the council announced in late May. The regulator’s initiative follows the province’s Bill 37, which

Cybersecurity concept
News CommercialCyberEmerging RisksLegalTechnology

Feds developing cybersecurity process for defence contractors  

June 1, 2023 by Sarah Ritchie - THE CANADIAN PRESS

OTTAWA – The federal government says certain defence contracts will be subject to a mandatory cybersecurity certification process starting in the winter of 2024.   Defence Minister Anita Anand made the announcement Wednesday morning at the Canadian Association of Defence and

Climate lawsuit
News CommercialLegalLiability

Why Canadian D&O insurers can breathe a sigh of relief

May 31, 2023 by Jason Contant

D&O lawsuits claiming boards of directors breached their climate-related fiduciary responsibilities would likely not succeed in a Canadian court if the facts are similar to those in a recent U.K. court case, lawyers suggested in a Mondaq article Wednesday. Non-profit

Black GMC Sierra Denali driving on the street with trees in the background
News ClaimsInsurersLegalOntarioPersonal Auto

Man injured in a crash while sleeping in a stolen truck is covered

May 31, 2023 by David Gambrill

A man sleeping in the back of a pickup truck when it was stolen by an uninsured driver and involved in a serious crash is entitled to auto insurance coverage, the Court of Appeal for Ontario has ruled. The Appeal

Working from home or playing with the dog?
News BrokersClaimsCommercialEmerging RisksHRLegalLiabilityManagementOperationsTrusted Advisor

How hybrid work can increase broker E&O risk

May 31, 2023 by David Gambrill

Workplace flexibility, one feature of a hybrid workplace, has proven to be a selling point to attract younger brokers. But the hybrid office makes it difficult to supervise newly recruited brokers to make sure they’re doing things correctly, broker E&O

Ransomware attack
News ClaimsCyberLegalNewfoundland & LabradorTechnology

‘Foreseeable’ cyberattack on N.L. health network hit majority of province: report

May 29, 2023 by The Canadian Press

ST. JOHN’S, N.L. – A new report says the cyberattack that temporarily knocked down Newfoundland and Labrador’s health-care IT systems in October 2021 was foreseeable and almost inevitable.  The 115-page report from the office of the province’s privacy commissioner concludes

Businesswoman calculating finances in an office
News Emerging RisksInsurersLegalLoss ControlLoss Trends

OSFI to review earthquake risk and minimum capital tests 

May 25, 2023 by Jason Contant

Canada’s solvency regulator will take a closer look at earthquake risk and the minimum capital test (MCT) for P&C insurers, an executive from the Office of the Superintendent of Financial Institutions (OSFI) said during an industry event last week.  Earthquake

Accounting and bookkeeping
News Emerging RisksHRInsurersLegalLoss ControlLoss TrendsManagementTrending

How insurers are handling IFRS 17 reporting requirements

May 23, 2023 by Jason Contant

This is the first quarter insurers are reporting financial results under IFRS 17, but insurers remain focused on familiar, pre-IFRS 17 business metrics, a KPMG Canada partner said during Insurance Bureau of Canada’s (IBC) 26th Financial Affairs Symposium. “While we

Disabled woman with bandaged arm signing document
News ClaimsInsurersLegalOntarioPersonal Auto

‘Minor injuries’ don’t exist if they fall outside the Minor Injury Guideline

May 17, 2023 by David Gambrill

An auto injury falling outside of Ontario’s $3,500 Minor Injury Guideline (MIG) cap is no longer a ‘minor injury’ for the purpose of imposing funding limits on certain medical goods and services, Ontario License Appeal Tribunal (LAT) has ruled. “There

Microphone on a podium with blurred crowd of strikers in the background
News BrokersClaimsCommercialEmerging RisksInsurersLegalLoss Control

Why standard coverage for unions doesn’t cut it

May 15, 2023 by Alyssa DiSabatino

Unions and corporations operate differently, and that means a union needs more tailored insurance coverage when an aggrieved member takes legal action, lest they find themselves underinsured, one expert told Canadian Underwriter.   Standard policies typically exclude important coverages for unions,