Rainbow colored umbrella against blue cloudy sky
Rainbow colored umbrella against blue cloudy sky
Rainbow colored umbrella against blue cloudy sky

INSURANCE

Today’s insurers, reinsurers and insurance intermediaries require creative strategies, practical experience and keen sector insight to generate growth and deliver on customer expectations. Equally important, they need the assistance of insurance law firms to ensure they’re in compliance with evolving domestic and global regulatory reforms as they bring new products and services to market. Providers and marketers of insurance are facing increased competition and, at the same time, a higher burden of compliance than ever before. The industry – and those who depend upon it – requires access to lawyers who specialize in insurance regulatory law and the legal factors affecting the insurance industry.

McMillan’s Banking, Finance and Insurance Industry Group has a broad depth of experience working with a wide range of insurance sector organizations. We understand developments across the insurance sector, from the regulatory environment and risks and to opportunities such as demutualization that operating in this complex sector brings. Our lawyers have represented some of the world’s largest and most sophisticated insurers, brokers and other insurance industry participants, including adjusters, on all manner of business transactions, and regulatory compliance.

McMillan helps its insurance clients lead by:

  • Executing mergers and acquisitions and corporate reorganizations
  • Obtaining regulatory approvals for share and portfolio acquisitions and divestitures, amalgamations, related-party and other business transactions (including Competition Bureau approvals)
  • Advising on incorporation and Canada-wide licensing of insurers, agents, brokers and adjusters as well as termination of insurance businesses in Canada
  • Advising on corporate governance and compliance matters and creating board and committee charter documents and company policies and procedures
  • Negotiating and implementing outsourcing arrangements
  • Reinsurance agreements
  • Resolving market conduct issues arising under provincial statutes, including by representing insurers, agents, brokers and others before regulatory tribunals and—where necessary—the courts
  • Advising insurers, agents and brokers on the day-to-day business of marketing and selling insurance products and on operational matters such as drafting and amending policies, privacy and e-commerce, drafting and reviewing innovative marketing initiatives and dealing with related regulatory challenges

Primary Contacts

View All Contacts

Darcy Ammerman

Partner, Banking & Finance | Insurance

Lindsay Lorimer

Partner, Product Liability & Regulation | Class Actions

News

Insights (10 Posts)View More

Featured Insight

Understanding the Consumer-Driven Banking Framework: Key Insights from the Budget Implementation Act, 2024, No.1

On April 30, the federal government introduced the Budget Implementation Act, 2024, No. 1, which provides the legislative framework for open banking in Canada.

Read More
May 13, 2024
Featured Insight

Legal Risk Assessments – An Essential Risk Management Tool

The best way to address the legal issues that arise in any business is to focus on their identification and resolution before they become legal problems.

Read More
May 9, 2024
Featured Insight

Service Contracts Considered Automobile Insurance in British Columbia

The British Columbia Financial Services Authority issued a Regulatory Statement deeming service contracts to be automobile insurance, with no OEM exemption.

Read More
Apr 30, 2024
Featured Insight

Warning For Businesses: Companies Can be Liable for Tort of Bribery Even if They Did Not Intend to Pay or Receive a Bribe

Businesses with a duty to provide impartial advice must take steps to ensure the payments they make or receive are not later interpreted as bribes.

Read More
Apr 12, 2024
Featured Insight

Meeting FSRA’s Ongoing Licensing Suitability Requirements: What Life Insurance Agents, MGAs and Insurers Need to Know

FSRA published proposed guidance outlining how it interprets licensing suitability requirements under the Ontario Insurance Act and its regulations.

Read More
Jan 31, 2024
Featured Insight

Department of Finance Launches Consultation on Security and Integrity, Access to Banking, and Protections for Digital Financial Products

On October 5, 2023, the Department of Finance launched a public consultation on the statutes governing federally regulated financial institutions.

Read More
Oct 16, 2023
Featured Insight

OSFI Provides Additional Details about its New Supervisory Framework Effective April 2024

This bulletin summarizes the new details announced by OSFI on October 4, 2023, regarding its new supervisory framework for FRFIs and pension plans.

Read More
Oct 10, 2023
Featured Insight

Expansion of OSFI’s Powers to Supervise Non-Financial Risks: Compliance Challenges for FRFIs

On September 6, 2023, OSFI issued a letter to industry outlining its steps to supervise emerging non-financial risks.

Read More
Sep 12, 2023
Featured Insight

OSFI Calls for Stakeholder Feedback on Regulatory Capital and Liquidity Treatment of Crypto-asset Exposures

OSFI receiving feedback from banks and insurers about the Guidelines on Regulatory Capital and Liquidity Treatment of Crypto-asset Exposures.

Read More
Aug 1, 2023
Featured Insight

Government of Canada Seeks Input on Updating Canada’s Anti-Money Laundering and Terrorist Financing Regime

The Government of Canada has launched public consultations on updating Canada's anti-money laundering and terrorist financing regime.

Read More
Jun 21, 2023