Industry
Ambiguity in policy wording often benefits the insured and not the insurer, Anthony Cole, an associate at McCague Peacock Borlack McInnis & Lloyd LLP, told attendees at the Canadian Independent Adjusters’ Association [CIAA]’s Ontario regional educational seminar. “Ambiguity is sort of in the eye of the beholder.” Cole said. “[Policy is] not always as clear […]
May 31, 2007
1 min read
Ontario’s Court of Appeal has deemed the 2002 biting of an outdoor worker by a West Nile Virus-carrying mosquito an “accident,” awarding the worker Cdn$130,000 of coverage under his insurance policy. Ryszard Kolbuc was working as a plasterer when the virus-carrying mosquito bit him, rendering him a paraplegic. At the time of the accident, Ontario […]
The Supreme Court of British Columbia recently awarded a widow Cdn$6.4 million, Cdn$4.2 million of which was for the potential loss of support due to the death of her husband, a laser eye surgeon, in a 2002 car accident. Barry Carter was driving a van owned by his employer, a cable company, when he went […]
The Law Society of Upper Canada is now responsible in law for regulating independent paralegals, including Statutory Accident Benefits Schedule (SABS) representatives. FSCO has been consulting with the law society on how the transition to paralegal regulation by the law society will take place. Currently, SABS representatives are required under the Insurance Act to file […]
2 min read
Dale-Parizeau L.M. Inc. and Morris & Mackenzie Inc. have announced the appointment of Jacques Bigaouette to the position of president and chief executive officer for both entities.In December 2006, Dale-Parizeau announced the acquisition of Morris & Mackenzie with the formal merger of both companies being completed by the end of 2007, a Morris & Mackenzie […]
By Canadian Underwriter | May 31, 2007
The Supreme Court of Canada has ruled that promoting insurance is not a core function of banking. Consequently, Alberta legislation that regulates insurance agents also applies to federally regulated banks when it comes to the practice of promoting creditors insurance.In Canada Western Bank v. Alberta, eight major banks asked the Supreme Court of Canada to […]
Lloyds has appointed a new director to drive its work enhancing the markets operational competitiveness and ensure a focus on North American business.Sue Langley, previously the chief operating officer at Hiscox, will take up a new position as Lloyds director of market operations and North America. She will be responsible for building on progress to […]
By Canadian Underwriter | May 30, 2007
Specialized directors and officers (D&O) liability insurance created specifically for small micro-cap companiesthe Micro Cap Preferred policyis now being offered by Chubb Insurance Company of Canada. A D&O liability lawsuit, including settlement, judgment and legal expenses, can cost millions of dollars, David Williams, senior vice president, Canadian manager for Chubb Specialty Insurance, said in a […]
By Canadian Underwriter | May 29, 2007
Desjardins Financial Security has reported the strongest first quarter in the companys history. The company reported 2007 Q1 net earnings of Cdn$49.8 million, a 65.3% increase from 2006 Q1. Insurance premium income rose by Cdn$60.1 million in 2007 Q1, to Cdn$580.5 million. That brought total insurance, annuity and other premium income to Cdn$783.7 million for […]
By Canadian Underwriter | May 28, 2007
BMO Insurance will be the official insurance services supporter of the FIFA U-20 World Cup Canada 2007, making BMO Insurance one of the four national supporters of the tournament.We are very proud to be a part of the FIFA U-20 World Cup, said Gordon Henderson, senior vice-president, insurance at BMO Financial Group.This tournament is going […]
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