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IBAC commends government for new regulations extending consumer protection to Web sites

February 14, 2011 by Canadian Underwriter

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

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Feds publish draft regulations prohibiting banks from promoting unauthorized insurance on Web sites

February 14, 2011 by Canadian Underwriter

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

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B.C. Appeal Court orders re-trial after trial judge misapplies conversion of stolen property law in “chop shop” case

February 11, 2011 by Canadian Underwriter

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

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Ontario MPP Mike Colle launches petition to extend ban on credit scoring to personal property lines

February 11, 2011 by Canadian Underwriter

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

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Intact adopts shareholder rights plan

February 11, 2011 by Canadian Underwriter

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

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Ontario Court of Appeal allows cross-claim, despite being beyond limitation period

February 10, 2011 by Canadian Underwriter

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

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Best practices help to avoid special arbitration awards when no benefits are in dispute

February 9, 2011 by Canadian Underwriter

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

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Insurers urged to follow new fuel spill guidelines immediately, ahead of July 2011 start date

February 9, 2011 by Canadian Underwriter

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

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RIBO warns of Ontario auto insurance scam

February 8, 2011 by Canadian Underwriter

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 –

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Pocket bikes are automobiles under Ontario law: FSCO arbitrator

February 3, 2011 by Canadian Underwriter

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

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B.C. Supreme Court orders couple to reimburse ICBC for auto fraud

February 1, 2011 by Canadian Underwriter

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

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B.C. Insurance Council announces new rule for placing coverage with unauthorized insurers

January 31, 2011 by Canadian Underwriter

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