Supreme Court of Canada rules banks not prohibited by PIPEDA from disclosing mortgage statements to creditors trying to seize property
November 17, 2016 by Canadian UnderwriterA bank holding a mortgage on property that a creditor is attempting to seize from the property owner is not precluded, by the Personal Information Protection and Electronic Documents Act, from disclosing the mortgage discharge statement to the creditor, the…
Class-action lawsuit over franchisor’s duty of fair dealing resolved in favour of defendant
October 14, 2016 by Canadian UnderwriterA class-action lawsuit in Ontario, alleging a franchisor breached its duty of fair dealing under the Arthur Wishart Act, will not be heard by the Supreme Court of Canada. In 1250264 Ontario v. Pet Valu, a court cited an earlier…
Chubb launches product to protect Canadian companies against privacy, intellectual property, financial injury and cyber risks
October 4, 2016 by Canadian UnderwriterChubb announced on Tuesday that its Integrity+ product is now available in Canada to help protect companies from errors and omissions (E&O) liability customer lawsuits alleging that their products or services caused privacy violations, intellectual property infringements or other financial…
Feds failed to assess privacy implications of Bill C-51 info sharing: watchdog
September 27, 2016 Jim Bronskill - THE CANADIAN PRESSOTTAWA – The government hasn’t done enough to protect the privacy of “law-abiding Canadians” from new information-sharing powers in the omnibus security legislation known as C-51, says a federal watchdog. Privacy commissioner Daniel Therrien said Tuesday he was surprised that…
Opposition calls for 33% cap on Ontario lawyers’ contingency fees
September 15, 2016 by Canadian UnderwriterA proposal to require Ontario lawyers and paralegals to disclose how they calculate fees is supported by The Co-operators Group Ltd. Bill 12 – An Act to amend the Law Society Act, the Insurance Act and the Solicitors Act with…
Privacy in the Sky
September 14, 2016 Laura Emmett, Partner; and Nicholas Cummings, Associate, Lerners LLPPotential Liability for Drone Operators
Combined ratio deteriorates 2.6 points for Willis Reinsurance Index
September 7, 2016 by Canadian UnderwriterWillis Towers Watson plc reported Monday the combined ratio for its index of top reinsurers was 94.1% during the first six months of 2016, up 2.6 points from 91.5% during the same period as 2015, during a time when insurers…
Ontario government to table home inspector licensing legislation
August 18, 2016 by Canadian UnderwriterSix months after a bill proposing to regulate home inspectors was tabled in the Ontario legislature, the provincial government said Wednesday it plans to “introduce legislation this fall that would, if passed, regulate the province’s home inspection industry.” Bill 165,…
Companies need to come clean about climate change risk, Mark Carney says
July 15, 2016 Colin Perkel - THE CANADIAN PRESSTORONTO – Only about one-third of the world’s 1,000 largest companies provide effective disclosure of the risks they face due to climate change, Bank of England Governor Mark Carney said Friday. Lack of full disclosure, Carney said, makes it difficult…
Nat cats in Q2 2016 cost Chubb an estimated US$390 million
July 13, 2016 by Canadian UnderwriterChubb Limited has estimated that natural catastrophe losses in the second quarter of 2016 cost the insurer US$390 million pre-tax, or US$315 million after tax. According to Chubb’s estimate, released on Tuesday, of the pre-tax total, US$320 million is from…
Panama Papers creating more scrutiny around offshore structures
June 24, 2016 by Angela StelmakowichThe Panama Papers situation seems to be creating more scrutiny and less sympathy to offshore structures for tax purposes among regulators in Canada and this could spur greater disclosure demands, suggested Shea Small, a partner and international and business strategy…
Photo radar, no right turn on red recommended for some Toronto streets
June 14, 2016 by Canadian UnderwriterA proposal to prohibit right turns on red lights at some Toronto intersections and to ask the Ontario government to approve “automated speed enforcement” or photo radar, is scheduled for debate next Monday at a Toronto city council committee meeting.…