Torys is leading counsel in every facet of the Canadian insurance industry. In the corporate and regulatory realm, we have acted for insurance companies in M&A, financing and regulatory matters. Our significant contact with regulatory and government officials, which results from our representation of financial institutions, leads to numerous retainers by regulators and governmental agencies to advise on special projects and policy initiatives.
Litigation and Dispute Resolution
Our insurance litigation practice is similarly broad, and includes acting for insurers and insureds on the widest range of matters, including class actions, regulatory defence, directors’ and officers’ liability and complex coverage issues.
Insurance Adviser Liability
A key component of Torys’ insurance industry practice is defending insurance advisers and their employers in civil litigation and before the provincial insurance regulators. Our Insurance Advisory Practice Group is a component of and complements our Professional Liability Practice, which encompasses securities advisers and other professionals.
Clients of Torys’ Insurance Advisory Practice Group include retail and institutional insurance advisers and firms, whom we represent in regulatory investigations and enforcement proceedings before financial services and insurance regulators. Our group’s core knowledge and experience are complemented by the expertise of our leading Financial Institutions Practice—which represents clients (including domestic and international insurance companies and brokers) in all aspects of financial services matters—and our firm's highly regarded senior litigation counsel, who have extensive trial and appellate experience, particularly in professional liability and corporate matters.
Our experience includes successful outcomes in advising on
- registration proceedings before regulators
- civil proceedings brought by clients for alleged losses sustained in insurance products that have an investment component
- defence and response to regulatory investigations and enforcement proceedings by regulators
- insurance contract disputes between insurance brokers and their institutional/business clients
- internal investigations and regulatory self-reporting regarding potential breaches of regulatory standards
- assessing client complaints in a quasi-in house compliance and legal role
- cross-border (U.S.-Canada) issues between insurance advisers and their clients
- employment disputes between insurance advisers and employees and their employers
- transactions for all types of major financial institutions, including life insurance companies, and property and casualty insurance companies