The Insurance Brokers Association of Canada (IBAC) says the federal government’s draft Bank Act regulations, which prohibit banks from promoting unauthorized insurance services on their Web sites, provide consumers “with clear protection from coercion by banks when it comes to…
Canada’s Department of Finance has published proposed amendments that would prevent banks from promoting non-authorized insurance products on its Web sites.Also in its proposed amendments, the government would prohibit banks from carrying on business “adjacent to the premises of an…
Finding that a trial judge misapplied the law related to the conversion of stolen vehicles, the B.C. Court of Appeal has ordered a re-trial in a case involving a man accused of allowing his motor vehicle dealership to be used…
Ontario Member of Provincial Parliament Mike Colle (Eglinton-Lawrence) has launched a petition calling for an extension of the ban on the use of credit scoring to personal property.Colle was vocal in the banning of the use of credit scoring in…
Intact Financial Corporation has adopted a shareholder rights plan, effective Feb. 9.“The plan is intended to ensure the fair treatment of Intact’s shareholders in any transaction that would result in a change of control of the company,” the company announced…
A defendant can still file a cross-claim for contribution and indemnity even after the limitation period of the plaintiff naming that individual has expired, Ian Gold, a founding partner of Thomas Gold Pettingill Lawyers, told delegates of the Ontario Insurance…
A recent Financial Services Commission of Ontario (FSCO) decision – which granted a special award when there were no benefits in dispute – should prompt adjusters to follow a set of best practices to avoid a similar decision in the…
New regulatory guidelines for handling and cleaning fuel spill sites will come into effect in July 2011, but not following the new standards now could put insurers at risk of residual liability. The new regulations, Soil, Groundwater and Sediment Standards…
The Registered Insurance Brokers of Ontario (RIBO) has received a number of calls regarding consumers caught in an insurance scam. Newspaper ads have been placed in several Ontario city newspapers – most recently in London, Ottawa and Toronto newspapers –…
A gas-powered, miniature motorcycle known as a “pocket bike” is a motor vehicle under Ontario law, according to the Financial Services Commission of Ontario (FSCO).Accident benefits claimant Cassondra Bouchard was injured while riding a Honda CRF 50 Mini Bike owned…
The B.C. Supreme Court ordered a Maple Ridge couple to reimburse ICBC more than $100,000 after being convicted of falsely claiming their expensive, leased truck was stolen, ICBC reported. Ronald and Jeannette LeBlanc reported their Chevrolet Super Sport Roadster truck…
A new rule outlining procedures that B.C. brokers must follow when placing coverage with an unauthorized insurer will take effect on Feb. 28, 2011. Section 76(1)(c) of the Financial Institutions Act in British Columbia provides a limited exemption from the…