Topic Legal
IBAC complains RBC is defying federal regulations
August 27, 2012 by Canadian UnderwriterThe Insurance Brokers Association of Canada (IBAC) has taken aim at the country’s largest bank, arguing in a letter to the Office of the Superintendent of Financial Institutions (OSFI) that RBC is flouting federal rules by allowing its insurance arm…
Woman falling on ice outside vehicle not an “accident”: FSCO delegate
August 24, 2012 by Canadian UnderwriterA woman who slipped on ice after exiting her car is not eligible for auto accident benefits in Ontario because the incident does not constitute an “accident” under insurance regulations, a director’s delegate of the Financial Services Commission of Ontario…
Partnership to help policyholders avoid data breaches
August 24, 2012 by Canadian UnderwriterOrganizations that hold a lot of personal customer data, including insurance brokers and financial institutions, are among the entities most vulnerable to increasing risks and costs associated with privacy breaches that can expose sensitive customer information, suggests Trisura Guarantee Insurance…
Celent report focuses on Software as a Service (SaaS) case study
August 21, 2012 by Canadian UnderwriterSoftware as a Service (SaaS) has gained interest in the insurance world recently, with a growing number of insurance companies considering the SaaS model for core insurance systems, notes a new report from Celent. Two years ago, Legal & General…
Risk assessment key to address anti-corruption risk exposure
August 20, 2012 by Canadian UnderwriterCanadian companies operating abroad would be well-advised to conduct comprehensive risk assessments to guard against anti-corruption risk exposure, recommends a recent post by John Boscariol on Lexology. “Canadian companies operating abroad can face particularly high anti-corruption risk exposure depending on…
Insurance fraud in U.S. a $30-billion problem: Deloitte
August 20, 2012 by Canadian UnderwriterProperty and casualty insurers need to adopt a multi-pronged approach to combat a growing fraud problem in the United States, notes a recent report from Deloitte. The report, A Call to Action: Identifying Strategies to Win the War Against Insurance…
Insurer has duty to defend claimants for any claims by co-defendant
August 17, 2012 by Canadian UnderwriterA British Columbia court has dismissed an appeal by Royal & Sun Alliance Insurance Company of Canada that a homeowner’s insurance policy excludes a bodily injury claim, ruling the insurer has a duty to defend and indemnify several claimants for…
60-day time limit for mediation elapsed: FSCO
August 13, 2012 by Canadian UnderwriterA director’s delegate for the Financial Services Commission of Ontario (FSCO) has upheld an arbitrator’s conclusion that mediation was deemed to have failed because it did not occur within 60 days of the application being filed with FSCO. In State…
York Regional Police lay 142 charges in alleged auto fraud scheme called “Project Sideswipe”
August 10, 2012 by Canadian UnderwriterForty-six suspects have been charged in connection with an alleged auto fraud scheme called Project Sideswipe involving staged collisions and suspected false medical billings in Ontario. One hundred and forty-two charges have been laid to date, including conspiracy to commit…
FSCO rejects insurer’s motion to obtain academic course records of injured woman’s daughter/caregiver
August 8, 2012 by Canadian UnderwriterA Financial Services Commission of Ontario (FSCO) arbitrator has rejected the motion of an insurer to obtain a copy of the academic course record of the daughter of a woman injured in an auto accident. The insurer in the matter,…
Potential pitfalls when insureds appoint, pay for Marine Warranty Surveyors: legal analysis
August 8, 2012 by Canadian UnderwriterThere are some pitfalls to be avoided in drafting marine warranty survey clauses and matters can be complicated by the fact that the marine warranty surveyor (MWS), despite being a requirement of the marine insurance underwriter, is often chosen, employed…
Alberta police issue more than 5,000 tickets over August long weekend
August 8, 2012 by Canadian UnderwriterAlberta law enforcement officers were out in full force over the August long weekend, issuing a total of 5,140 tickets between Aug. 3 and Aug 6. RCMP officers, provincial traffic sheriffs, conservation officers, fish and wildlife officers and commercial vehicle…