Claims

Insurance-linked securities (ILS) rebounding from bad press related to asset-backed securities: Swiss Re executive

Insurance-linked securities (ILS) are already bouncing back from a tough sell, Michel Liès, the head of the client markets business function at Swiss Re says.After the subprime debacle in the United States, in which bad mortgage debt was bundled and sold as securities to investors, “securities” generally were often perceived to be a problem rather […]

By Canadian Underwriter | November 23, 2009

2 min read

Claims

What’s New: In Brief (November 20, 2009)

A man who obtained two drivers licenses under different aliases has been handed a six-month jail sentence. When applying for a license to drive in British Columbia in September 2004, Christopher Richard Alblas presented an Alberta driver’s license. After a series of checks and reviews, the customer service representative contacted her Alberta counterpart and determined […]

By Canadian Underwriter | November 20, 2009

2 min read

Claims

What’s New: In Brief (November 18, 2009)

Insurance Bureau of Canada (IBC) is cautioning that current conditions in British Columbia’s Fraser Valley are similar to those that led to floods of the Fraser Valley in 2003 and 2007.The provincial, federal and municipal governments have made significant investments in flood protection since 2007, but it’s not known whether the improved dykes, berms and […]

By Canadian Underwriter | November 18, 2009

1 min read

Claims

Pennsylvania insurance regulator seeks legal action against Kingsway

The Pennsylvania Department of Insurance (DOI) is taking legal action against Kingsway Financial Services, Inc. (TSX, NYE: KFS) to unwind the company’s donation of its shares of Lincoln General Insurance Company to charities.Kingsway announced in October 2009 that it had donated its indirect interest in Lincoln General to 20 different charities. Each charity received 5% […]

By Canadian Underwriter | November 17, 2009

2 min read

Landlords can delegate snow removal to tenants, but not in tenancy agreement: Ontario Court of Appeal

A landlord can delegate snow removal tasks to tenants, but this must be done in a contractual agreement separate from the tenancy agreement, the Ontario Court of Appeal has ruled in a slip-and-fall case.”In order to be effective, a clause that provides that a tenant will provide snow removal services must constitute a contractual obligation […]

2 min read

Courts hold lower threshold for price-fixing class action certification

Two recent decisions in Ontario and British Columbia certifying class actions alleging price fixing indicate that the courts in Canada may be adopting a new approach to these types of claims, potentially opening the door to more litigation in this area, according to Michael Brown, a lawyer with Ogilvy Renault.In his paper, Possible Changes in […]

2 min read

What’s New: In Brief (November 16, 2009)

The Saskatchewan government is introducing legislation to ban texting and talking on hand-held cell phones while driving.June Draude, Saskatchewan Government Insurance (SGI) minister, introduced the new law on Nov. 12 in the legislative assembly. “Using a cell phone to talk or text is a dangerous distraction,” Draude said in a release. “Recent research found that […]

2 min read

Subrogation in fire cases

The evidence of what causes a fire is generally consumed in the fire, Richard Lindsay, founding partner of Lindsay Kenney LLP in British Columbia, said. This makes subrogation a little different in a fire-related case, he told delegates attending the National Association of Subrogation Professionals’ Canadian Chapter’s training and education seminar in Toronto. “A lot […]

2 min read

Privacy Commissioner’s authority questioned by insurer, private investigators

Insurers and private investigators are challenging the authority of the Office of the Privacy Commissioner (OPC) to intervene in claims investigations.The insurance industry yielded 17% of the complaints lodged in 2008 under the Personal Information Protection and Electronic Documents Act (PIPEDA).In May 2009, the OPC issued guidelines to the private sector related to the use […]

2 min read

B.C. Insurance Council concerned about confidentiality breaches

The Insurance Council of British Columbia, which licenses and regulates the province’s insurance agents, salespersons and adjusters, says it is concerned about the number of breaches in confidentiality it has encountered over the last 12 to 18 months.”Licensees handle and have access to a large amount of confidential information and their clients depend upon their […]

2 min read