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OSFI releases revised advisory on insurance in Canada of risks
- Stikeman Elliott LLP
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- Canada
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- June 5 2009
On May 29, 2009, Canada's Office of the Superintendent of Financial Institutions (OSFI) released a revised Advisory (the Revised Advisory) updating its landmark October 2007 Advisory (the Original Advisory) on the insurance in Canada of risks under Part XIII of the Canadian Insurance Companies Act (ICA
New Quebec insurance regulation comes into force
- Stikeman Elliott LLP
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- Canada
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- October 5 2009
On September 9, 2009, most of Quebec's new Regulation under the Act respecting insurance came into force
Landmark Alberta Court of Appeal decision upholds constitutionality of automobile insurance minor injury cap
- Stikeman Elliott LLP
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- Canada
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- June 17 2009
On June 12, 2009, the Alberta Court of Appeal released its landmark constitutional decision in Morrow v. Zhang, a case involving the appeal of a Court of Queen's Bench decision to strike down the Minor Injury Regulation (MIR) portion of Alberta's motor vehicle insurance regime
OSFI's reinsurance regulation discussion paper: overview and international regulatory and economic perspectives in a changing world
- Stikeman Elliott LLP
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- Canada
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- June 18 2009
Late last year, Canada's Office of the Superintendant of Financial Institutions (OSFI) released its long-awaited discussion paper on OSFI's regulatory and supervisory approach to reinsurance
Court affirms priority entitlement of Canadian creditors to post-liquidation interest from Canadian branch of foreign insurance company
- Stikeman Elliott LLP
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- Canada
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- September 2 2009
On July 14, 2009, the Ontario Superior Court of Justice released its decision in Canada (Attorney General) v. Reliance Insurance Company, an application regarding the allocation of surplus arising from the liquidation of the Canadian branch (Reliance Canada) of U.S.-based Reliance Insurance Company (Reliance U.S.), a property and casualty insurer that was itself in liquidation
Regulatory jurisdiction
- Stikeman Elliott LLP
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- Canada
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- March 19 2010
In this case, the plaintiff Royal Bank (RBC) sought to enforce its mortgage rights against the defendants by way of summary judgment
Extended warranties
- Stikeman Elliott LLP
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- Canada
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- March 19 2010
The plaintiff, Brick Protection, offered a number of protection plans to customers purchasing merchandise at Brick Warehouse stores
Policy interpretation - fire insurance
- Stikeman Elliott LLP
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- Canada
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- March 19 2010
In this case from the Alberta Court of Queen's Bench, the applicants sought coverage as mortgagees under a standard mortgage clause in a fire insurance policy (the Policy
Quebec to regulate motor vehicle replacement guarantees as insurance
- Stikeman Elliott LLP
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- Canada
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- April 21 2009
On March 27, 2009, following two extensive consultations conducted by the Autorité des marchés financiers (the AMF, Quebec's financial sector regulator), with respect to motor vehicle replacement guarantees, the AMF published Avis de l'Autorité des marchés financiers relatif aux garanties de remplacement automobiles (the Notice), which provided its views on the nature of these guarantees and how they will be regulated in Quebec
CROs in the spotlight: market turmoil heightens prominence of, and regulatory focus on, the role of the chief risk officer in Canadian financial institutions
- Stikeman Elliott LLP
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- Canada
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- March 24 2010
The recent financial crisis has brought new focus, from financial institutions and their regulators, on the ways in which financial institutions, including insurance companies in Canada and abroad, manage the risks they face
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