Topic Legal
ICBC loses appeal in hit-and-run case
January 6, 2011 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) has lost its bid to appeal a case in which a gas station owner was injured after a customer filled up her car with gas and attempted to drive away without paying.Parminder Kumar…
OSFI posts final guidance on reinsurance security agreements
January 6, 2011 by Canadian UnderwriterThe Office of the Superintendent of Financial Institutions (OSFI) has posted the final version of its Guidance for Reinsurance Security Agreements.OSFI expects all new agreements to comply with the guidance, beginning July 1, 2011.The guidance spells out criteria to be…
An ATV in B.C. is not an “automobile” under Ontario law: Ontario arbitrator
December 22, 2010 by Canadian UnderwriterAn all-terrain vehicle (ATV) driven in B.C. does not count as an “automobile” under Ontario law, the Financial Services Commission of Ontario (FSCO) has determined.In Alana Bray and ING Insurance Company of Canada, Alana Bray was injured in June 2001…
PwC reports slow, steady erosion of broker channel’s market share
December 22, 2010 by Canadian UnderwriterThe independent broker channel is losing market share to the direct channel at a rate of roughly 0.43% per year, according to PwC’s Insurance Review: A Canadian Perspective. At that rate, the independent channel’s market share of 64% in 2009…
Insurer cites joint and several liability as a factor in Essex County’s 41.7% 2011 municipal insurance renewal
December 21, 2010 by Canadian UnderwriterEssex County in Ontario saw its 2011 municipal insurance renewal increase by 41.7% over 2010.The municipality’s insurer attributed the premium increase to higher liability claims costs, including larger damage awards, higher legal defence costs, more class actions, the impact of…
DNA testing at the top of MPI’s list of Top 5 frauds in 2010
December 20, 2010 by Canadian UnderwriterDNA testing, CSI-style, ferreted out a fraud scheme in which a Manitoba driver vehemently denied crashing his car, causing his airbag to deploy.The attempted fraud made the top of Manitoba Public Insurance (MPI)’s Top 5 frauds of 2010.The vehicle owner…
Perth County sees its municipal insurance premium increase 54%
December 17, 2010 by Canadian UnderwriterPerth County Council approved a 54% increase to its 2011 municipal insurance premium, which rose to $445,056.The Council tendered an RFP to handle its municipal insurance in late November. Only two municipal insurers – Frank Cowan and the Ontario Municipal…
Nova Scotia has right to recover nursing home costs against insurer in an auto accident case
December 17, 2010 by Canadian UnderwriterNova Scotia’s Department of Health does have a subrogated right to claim against an insurer for nursing home costs arising from injuries sustained in a motor vehicle accident, according to the Supreme Court of Nova Scotia.In Slauenwhite v. Keizer, Jean…
U.S. launches civil lawsuit against BP, QBE Underwriting and seven other parties for Gulf Coast oil spill
December 16, 2010 by Canadian UnderwriterThe U.S. government has launched a civil lawsuit against BP, QBE Underwriting Ltd. and seven other parties it deems responsible for the Deepwater Horizon oil spill on Apr. 20, 2010.U.S. Attorney General Eric Holder did not say in his Dec.…
OSC alleges former Kingsway senior accountant and her son engaged in insider trading
December 14, 2010 by Canadian UnderwriterThe Ontario Securities Exchange Commission (OSC) is examining accusations of insider trading against a former senior accountant of Kingsway Financial Services and her son.The securities regulator is holding a Jan. 27, 2011 hearing to examine allegations that Helen and Paul…
Extension of limitation period based on knowledge of existence – not the identity – of a possible party
December 13, 2010 by Canadian UnderwriterThe Ontario Court of Appeal has confirmed in a slip-and-fall case that the knowledge of the existence – rather than the specific identity – of a potential party invokes the discoverability principle and postpones the expiry of applicable limitation periods.Roseanna…
Alberta Privacy Commissioner wonders why encryption not used in recent data breaches
December 13, 2010 by Canadian UnderwriterThe Office of the Privacy Commissioner in Alberta says it’s “incomprehensible” why data encryption was not used in seven self-reported breaches of personal information over the past three months, each involving a stolen or lost laptop or digital device. “Encryption…