Corporate Insurance
Email this pageThe mandate of the Blaney McMurtry corporate insurance practice is to assist insurers, brokers, adjusters and intermediaries in finding their way through the maze of regulations governing not only the field of insurance, but also general business law, in Canada. Whether our services involve federal or provincial law, regulations or guidelines, our clients may rest assured that we have the expertise to handle any situation that may arise. Following are a few examples:
Corporate
We assist in the incorporation, organization and licensing of insurers (Canadian and Ontario life, accident and sickness, property and casualty, and reinsurance), brokers and adjusters. We help these clients in dealing with regulatory authorities, in the preparation of business plans, in designing the mandates of audit and conduct review committees, and in establishing their investment and lending policies, standards and procedures.
To foreign insurance companies wishing to enter the Canadian market, we provide assistance in qualification and provide the follow-up legal services required by our clients operating in Canada.
We provide guidance for insurance brokers in mergers and clustering, all forms of restructuring, successorship, and agreements affecting producers, partnerships, shareholders, management and employment.
We assist non-resident agents, brokers and adjusters in obtaining licenses to act in all Canadian provinces.
Certain groups of insurance clients have specific requirements. For example, we obtain exemption orders under the Bank Act for insurers affiliated with banks.
Our lawyers act as corporate directors, members of audit, conduct review and other committees of Canadian insurers. We also perform corporate secretarial functions on behalf of our clients. Our reputation for fair dealing allows us to assist insurers in their ongoing relations with federal and provincial regulatory authorities.
Commercial
Insurance is a business that depends, perhaps more than most, on the use of policy forms. We ensure not only that our clients' policies and endorsements comply with federal and provincial regulations appropriate, but that they are written so that the forms are understood by the consumer.
We provide all types of client support in dealing with Ontario automobile legislation. This includes advice on filings and obtaining approvals from the Ontario Insurance Commission.
Market conduct
With the increasing sale of insurance products through direct marketing programmes, our lawyers are called upon to ensure that clients' solicitation and fulfilment materials comply with all relevant insurance, business practices, advertising and privacy laws as well as regulations governing the telemarketing of insurance products.
We provide advice on special risk programmes such as creditors group, travel accident, and warranty programmes.
We assist in preparation of various types of contracts between insurers and agents and brokers; between Managing General Agents and their producers; and between insurers, brokers or adjusters who may wish to enter into networking arrangements with each other.
On behalf of our clients, we review reinsurance and retrocession agreements and offshore arrangements to ensure compliance with regulations regarding limits of reinsurance. We also assist in drafting these agreements to ensure that the contracts clearly reflect the intention of the parties to the contract.
Acquisitions and Amalgamations
The Canadian insurance industry is currently in a stage of rationalization. We assist our clients in the insurance and securities regulatory and commercial aspects of acquiring and selling companies, acquiring and selling books of business, and carrying out amalgamation of companies. Where we are not directly involved in the acquisition process, we can assist boards of directors by providing independent legal advice on the obligation of the board in fulfilling its statutory obligations.
Immigration
We assist our multinational clients in obtaining temporary and permanent entry into Canada of non-Canadian insurance specialists, this allowing the Canadian member of the multinational to take advantage of this special expertise.
Regulatory
We represent insurers, agents and brokers, and adjusters in quasi-criminal proceedings and administrative tribunals under Ontario insurance legislation, as well as in negotiations with the regulatory bodies that govern these matters.
Multi-disciplinary Support
Our corporate and commercial insurance lawyers work closely with the firm's tax, employment and litigation specialty groups, providing support for all types of issues facing our insurance clients.
