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Inside Internal Controls

News and discussion on implementing risk management

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Insurance

Phishing losses exceed $224,000.00 after insurer denies coverage

In August 2010, someone called The Brick’s accounts payable (AP) department, pretending to be from Toshiba Canada. The caller said he was new to Toshiba and needed some payment details. The Brick employee faxed the payment information to the number which the caller provided.

 

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Building warranty or insurance? Recent Alberta jurisprudence on standard by-law endorsement

The Supreme Court of Canada recently denied leave to appeal in respect of the Alberta Court of Appeal’s decision in 852819 Alberta Ltd v Sovereign General Insurance Company, 2017 ABCA 76, leave to appeal denied 2017 CanLII 51468 (SCC) (“852819 Alberta”), which provides much needed clarification regarding the interpretation of the By-law Endorsement coverage common to most all-risk commercial property insurance policies in Canada. The defendant insurers were represented by the authors.

 

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Update on recoverable disbursements: The recoverability of after the event or ATE insurance premiums

Whether you win or lose, litigation can be an expensive endeavour. While some of those costs may ultimately be recovered from the other party in the course of the litigation, recent case law suggests that the premiums paid for After The Event (“ATE”) insurance (also known as adverse costs protection insurance) are unrecoverable.

 

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