Insurance
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October 21, 2024
Cybersecurity recovery costs for businesses soared to $1.2B in 2023 despite fewer incidents
Canadian businesses spent approximately $1.2 billion on recovery from cybersecurity incidents in 2023, up from approximately $600 million in 2021, despite a decline in the proportion of Canadian businesses impacted by such incidents, according to Statistics Canada's Canadian Survey of Cyber Security and Cybercrime (CSCSC).
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October 17, 2024
B.C. Court of Appeal: Covenant to insure overrides towing company’s liability for negligence
The B.C. Court of Appeal has upheld the dismissal of a claim concerning damage to a barge, ruling that the barge owner’s insurance obligation under a towing services agreement superseded the towing company's liability for damages caused by its negligence.
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October 16, 2024
Alberta hits new record in Canada for auto insurance lawsuit costs
Alberta has hit a new record in Canada with the cost of the average auto insurance legal settlement in the province exceeding $100,000 in 2023, according to new data from the General Insurance Statistical Agency (GISA), which is overseen by provincial insurance regulators.
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October 16, 2024
Ottawa says national action plan helped cut auto theft by 19 per cent, boosted vehicle interceptions
Ottawa's national action plan to combat auto theft has resulted in a 19 per cent decline in auto thefts over the first half of the year and an increase in the number of stolen vehicles intercepted by the Canada Border Services Agency (CBSA), according to a federal government news release.
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October 15, 2024
OSFI: Pension plan solvency ratios, share of fully funded pension plans up in 2023-24
The share of underfunded pension plans in Canada at the end of 2023 fell to 11 per cent from 17 per cent in 2022 as the average solvency position of pension plans improved for a third consecutive year, according to the annual report of the Office of the Superintendent of Financial Institutions (OSFI).
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October 11, 2024
SCC sheds new light on corporate attribution rules, applies them for first time to bankruptcy cases
The Supreme Court of Canada has for the first time applied the common law corporate attribution doctrine in the bankruptcy and insolvency context while also instructing that the corporate attribution rules are not rigid and must be adapted in varied legal contexts to “purposively, contextually and pragmatically” give effect to the policy goals of the law under which a party seeks to attribute to a corporation the actions, knowledge, state of mind or intent of its directing mind.
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October 11, 2024
Ontario Court of Appeal rejects accident victim's effort to amend claim to name truck driver
More than 10 years after a motorcycle accident seriously injured an Oshawa, Ont. man, the Ontario Court of Appeal has rejected his effort to amend his claim to reflect the identity of the truck driver he believes caused the accident.
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October 11, 2024
Deciding adjournments: Case highlights how Licence Appeal Tribunal favours expediency over fairness
The Ontario Divisional Court recently released its decision in Fernandez v. Commonwell Mutual Insurance, 2024 ONSC 5180, in which it unanimously decided that the Licence Appeal Tribunal unfairly denied the applicant’s request for an adjournment, which was on consent (with terms).
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October 11, 2024
Prioritizing mental health in the workplace
On World Mental Health Day on Oct. 10, we were reminded of the vital role that mental health plays not just in individual lives but also within our communities and workplaces. The global conversation surrounding mental health has grown significantly over the years, yet we still face considerable barriers that impede progress.
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October 10, 2024
Ontario Court of Appeal upholds $547K damages award against insurer for denying stolen jewelry claim
The Ontario Court of Appeal has upheld an award of $547,100, including a $45,000 punitive damages award, against an insurer that denied a claim for stolen jewelry on the basis that the insured had not established that they owned the jewelry.