In Swiss Reinsurance Company v. Camarin Limited, the British Columbia Court of Appeal clarified the test for proving liability under a reinsurance contract absent a follow the settlements clause.

The Government of Alberta's initiatives in support of reinsurance and captive insurance in the province, discussed in our post of April 20, 2022, will soon be fully in force.

In Wiener Städtische Versicherung AG v. Infrassure Ltd, 2023 ONSC 5256, the Ontario Superior Court of Justice (Commercial List) ordered a reinsurer to follow the settlement of a claim by a lead insurer...

On July 10, 2009, Quebec's financial services regulator, the Autorité des marchés financiers (AMF), released a draft guideline respecting reinsurance risk management by insurers carrying on business in Quebec. Reinsurance, while obviously an important risk management tool for insurers, exposes them to a number of risks, including residual insurance, legal, counterparty and liquidity risks.

On July 9, 2010, the Federal Court of Canada restricted the scope of the definition of "commercial activity" under the Personal Information Protection and Electronic Documents Act (PIPEDA), when it was asked to determine whether the provisions of PIPEDA apply to evidence collected by an insurer, on behalf of an insured, in a tort action.

The ITA contains rules (the FAPI rules) that are intended to tax investment income earned by a "controlled foreign affiliate" of a Canadian taxpayer when it is earned...

The Office of the Superintendent of Financial Institutions ("OSFI") has released a memorandum (the "Memorandum") advising of upcoming changes to the process for obtaining approval of unregistered related party reinsurance between a federally regulated insurer (an "FRI") and a related party that is not an FRI.

As insurers continue to navigate a type of hard market Canada has not seen in decades, it's easy for their underwriters and business development leaders to forget their relatively newfound...

On June 12, 2019, Canada's federal prudential regulator of insurance companies, the Office of the Superintendent of Financial Institutions ("OSFI"), released a draft revised version

New transaction instructions for approvals of reinsurance arrangements between federally regulated insurers (FRIs) and certain related parties are now in effect.

There has also been significant lobbying by the P&C industry with both OSFI as well as the Ministry of Finance.

The global political and economic climate has shifted and the impact has been felt at the same scale.

In Canada, responsibility for lawmaking is shared among the federal government and the governments of 10 provinces and three territories ("provinces").

Le groupe Assurance et réassurance de Stikeman Elliott a récemment rédigé le chapitre canadien (en anglais seulement) du Chambers Global Practice Guide : Insurance and Reinsurance,

In Canada, responsibility for lawmaking is shared among the federal government and the governments of 10 provinces and three territories ("provinces").

On June 23, 2011, the Quebec Court of Appeal1 ruled on the scope of Article 2397 of the Civil Code of Québec (CCQ), which states that "the contract of reinsurance has effect only between the insurer and the reinsurer."

On August 9, the Office of the Superintendent of Financial Institutions (OSFI) released draft guidance for reinsurance security agreements (the RSA Guidance), marking a shift away from the use of standard form reinsurance trust agreements.

On June 12, 2019, the Office of the Superintendent of Financial Institutions Canada (OSFI) issued its proposed revisions to Guideline B-3: Sound Reinsurance Practices and Procedures (Guideline B-3).

In the unanimous decision in Onex Corporation v. American Home Assurance Company, released on February 25, 2013, the Ontario Court of Appeal has provided new guidance as to the effects and consequences that directors and officers face in notifying D&O insurers of circumstances which may give rise to a claim under a D&O policy.

Insured losses from the Alberta wildfires, which were first spotted on May 1st and which burned for nearly two months, have surpassed those from Canada's previous most expensive wildfires...