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
INSIGHTS (66 Posts)
Mandatory Vaccination Policies for Employees: Enforceable or a Shot in the Dark?
OSFI’s New Draft Guideline E-4 Relating to Foreign Entity Branches: A Comparative Analysis to Existing Guidance
Supreme Court of Canada Affirms the Genetic Non-Discrimination Act, Weighing Autonomy, Privacy, and Accessibility of Insurance
Significant Expansion of Ontario’s Personal Health Information Protections amid COVID-19: What you need to know
OSFI Outlines Additional Regulatory Adjustments to Foster Financial Resilience and Stability During COVID-19
Refrigerator Limitation Period Running? Maybe Not Where One Party Promises to Fix the Problem
OSFI Boots Up Cyber Safety with its New Advisory on Technology and Cyber Security Incident Reporting
Adoption of financial sector reform goes ahead in Québec, but government backtracks on certain proposed changes in the insurance sector
OSFI Updates its Transaction Instructions for FRFIs’ Purchase or Redemption of Shares and Reduction of Stated Capital
The “20% rule”: Quebec’s New Bill 150 clarifies the distinction between damage insurance “agencies” and “brokerage firms”
Much awaited Bill 141 promises to shake up legislation regulating insurance, financial services and real estate and mortgage brokers in Quebec
OSFI Publishes Letter regarding the Tightening of its Supervisory Expectations for Mortgage Underwriting
OSFI Publishes Draft of Revised Guideline for Minimum Capital Test for Federally Regulated Property and Casualty Insurance Companies
The Feeling’s “Demutual”Draft Federal Legislation Released for Demutualization of Property and Casualty Insurance Companies
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