Topic Legal
Trial lawyers to intervene in important accident benefits case
March 2, 2023 by David GambrillOntario’s Superior Court has allowed the Ontario Trial Lawyers Association (OTLA) to intervene in an auto insurance case that will address whether a settlement agreement is enforceable when the injured claimant dies before accident benefits (AB) structured settlement instructions were…
Why your commercial clients may be at risk of ESG legal action
March 1, 2023 by Alyssa DiSabatinoCanadian law firms are preparing for an uptick in environmental, social, and governance (ESG)-related legal cases, based on the rise of such cases in the U.S., a litigator tells Canadian Underwriter. ESG lawsuits occur when a company is taken to…
What the IFRS 17 temporary adjustments mean for insurers
February 24, 2023 by Alyssa DiSabatinoThe International Financial Reporting Standards 17 (IFRS 17) is now in place, but a temporary adjustment to the regulatory prudential limits related to investments, commercial lending and borrowing for P&C insurance companies will allow federally regulated insurers (FRIs) two years…
Court approves insurer’s settlement over COVID flight cancellations
February 23, 2023 by David GambrillOntario’s Superior Court has approved a $4.8-million settlement in a class action lawsuit related to the denial of travel insurance claims by TD Home and Auto Insurance for cancelled flights during the first months of the COVID-19 pandemic. During that…
Sales Column: Clients ignoring your emails? Try texting
February 22, 2023 by Adam MitchellPeople love their smartphones. And even those who claim they don’t still spend hours using them every day. A study last year by cybersecurity company NordVPN found 66% of Canadians even use their phones while in the washroom. I’ve always…
How brokers can avoid an E&O lawsuit
February 22, 2023 by David GambrillA broker’s best defence against an errors and omissions (E&O) lawsuit can be summed up in three words — document, document, document. “You need to be able to prove you did [something],” broker E&O specialist Hugh Fardy, said in a…
No one’s auto insurance was suspended under the Emergencies Act: Inquiry Report
February 21, 2023 by David GambrillPolice chose not to apply federal Emergencies Act measures to suspend the auto insurance policies of any Freedom Convoy protest participants last year, according to the Report of the Public Inquiry into the 2022 Public Order Emergency. “The duty to…
Pace of P&C industry cited as a reason for more broker E&O claims
February 17, 2023 by David GambrillThe frenetic pace required for brokers to meet the Canadian P&C insurance industry’s premium growth targets — not to mention keeping current with the kaleidoscopic transformation of products — is putting brokers in harm’s way, broker E&O experts told Live…
When will self-driving tech consistently prevent crashes?
February 17, 2023 by Harrison Griffiths and Hannah Van StaverenOne aim of autonomous driving technology is to take the human element out of the driving ecosystem with an eye toward preventing collisions. But right now, autonomous driving technology can’t guarantee it will detect and react to road hazards earlier…
Failure to tell an insurer about a new vehicle can mean trouble
February 16, 2023 by Philip PoradoA multiple-vehicle owner who failed to add a motorcycle to his insurance within a set time period is precluded from receiving benefits following an accident, said a Feb. 6 decision by Ontario’s Licence Appeal Tribunal (LAT) adjudicator Stephanie Kepman. On…
Will volatile stock markets spark claims against asset managers?
February 15, 2023 by Philip PoradoSo far, wobbly stock markets aren’t sparking higher claims activity for asset managers’ liability coverages. But the kinds of investor claims that lead to complaints against money managers often lag the equity markets’ overall performance, noted Reid Irwin, practice leader…
Insurers can deny entire claim for fraud, not just the fraudulent part, court affirms
February 13, 2023 by David GambrillIf an auto insurance claimant fraudulently applies for accident benefits payments arising out of a crash, the insurer can deny the entire auto claim, not just the fraudulent part of the claim, the Alberta Court of Appeal has confirmed. In…