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Credit crisis no longer chief source of securities litigation: Advisen Ltd.

October 15, 2009 by Canadian Underwriter

The credit crisis is no longer the chief source of securities litigation in the United States, a recent report from Advisen says.“The third quarter [of 2009] saw a robust 169 new securities lawsuits filed, but the credit crisis is no

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Ontario-Quebec trade agreement calls for harmonizing approaches to insurance regulation

October 14, 2009 by Canadian Underwriter

An inter-provincial trade agreement, the Ontario-Quebec Trade and Cooperation Agreement, has come into force as of Oct. 1, and already some are calling for it to be more like the Trade, Investment and Labour Mobility Agreement (TILMA) between B.C. and

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Capture Facebook evidence early, defence counsel cautioned

October 8, 2009 by Canadian Underwriter

Insurance defence counsel should tread carefully when it comes to preserving evidence obtained on social networking sites such as Facebook.Speaking at the Canadian Defence Lawyers’ 2nd annual Accident Benefits Experts Seminar in Toronto, panelist Jennifer Malchuk of Hughes Amys LLP

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Insurers under-using their legal right to obtain infomation from accident benefits claimants

October 8, 2009 by Canadian Underwriter

Insurers are under-using s. 33 of the Statutory Accident Benefit Schedule (SABS) to obtain information from an applicant applying for accident benefits. Joy Stothers of Dutton Brock LLP made the observation at the Canadian Defence Lawyers 2nd Annual Accident Benefits

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Insurance industry sees spike in PIPEDA-related complaints

October 6, 2009 by Canadian Underwriter

The 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

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What’s New: In Brief (October 06, 2009)

October 6, 2009 by Canadian Underwriter

A 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.

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Ontario lawyers see professional indemnity premium rate increases

September 25, 2009 by Canadian Underwriter

A 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

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California attorney general to investigate credit agencies’ possible role in financial crisis

September 21, 2009 by Canadian Underwriter

California’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

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Ontario to change Rules of Civil Procedure to expedite court processes, but jury out on savings to insurers

September 16, 2009 by Canadian Underwriter

Upcoming 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

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Ontario court finds province’s stunt-driving law to be unconstitutional

September 14, 2009 by Canadian Underwriter

An 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

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Several inflationary factors to threaten (re)insurers over the next 2-5 years: Guy Carpenter briefing

September 10, 2009 by Canadian Underwriter

Higher 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

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FSCO denies claim for caregiver and housekeeping benefits

August 26, 2009 by Canadian Underwriter

A 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