A class action lawsuit has been filed against the B.C. Ear Bank by A Vancouver woman, on behalf of those who have received transplant tissue and bone from the University of B.C.-directed facility. Margaret Birrell says she was among those…
Two class actions against three tobacco manufacturers for “smoking addiction” have been certified in Quebec Superior Court.The suits involved tobacco companies Imperial Tobacco Canada, Rothmans Benson & Hedges, and JTI MacDonald, with plaintiffs alleging the companies did not disclose the…
A bill to extend the Terrorism Risk Insurance Act (TRIA) two years past its December 31, 2005 sunset has been introduced in the U.S. Senate, crafted by Sens. Robert Bennett and Christopher Dodd. The same two men had introduced a…
Three Canadian insurers are now facing class action lawsuits stemming from claims made for perished stock and business interruption losses following the August 2003 blackout.Aviva Canada Inc., Lombard General Insurance Co. of Canada and Royal & SunAlliance Insurance Co. of…
The U.S. House of Representatives quickly passed the “Class Action Fairness Act” Thursday, by a vote of 279-149. The bill’s passage means it could be signed into law as early as Friday by President George W. Bush. Royal & SunAlliance…
Reports of the death of contingent commissions may be premature, according to a new report by Conning Research.In a study of relationships between brokers and insurers, Conning finds this dynamic is being transformed by investigations into compensation and other industry…
While the number of shareholder class action lawsuits has not increased since the passage of Sarbanes-Oxley in mid-2002, the value of settlements has skyrocketed to reach record levels in 2004, says NERA Economic Consulting in its annual study of shareholder…
One Marsh and two AIG executives offered guilty pleas today in New York Supreme Court in the ongoing investigation into insurance industry practices spurred by New York Attorney General Eliot Spitzer.The guilty pleas stem from criminal charges of fraud and…
The Insurance Bureau of Canada (IBC) has set up a task force to address availability and affordability of commercial insurance in Atlantic Canada. The “Atlantic Task Force” includes insurance industry and government representatives, as well as representatives of commercial and…
The Co-operators has teamed up with the Infant & Toddler Safety Association (ITSA) and the Ontario Ministry of Transportation to produce a “Booster Seat Guide” and DVD to educate the public on the use of child booster seats in vehicles.…
U.S. insurers and their commercial clients are celebrating the passage of class action reform legislation by the U.S. Senate. The Senate passed S.5, the "Class Action Fairness Act" by a vote of 72-26 on Thursday, and it is expected similar…
Fairfax Financial Holdings (TSX, NYSE: FFH) is reporting a net loss of US$17.8 million, or US$2.16 per share, for 2004, heavily impacted by US$252.7 million in losses stemming from the four U.S. hurricanes in the third quarter of the year.…