The 10 Most Important Issues General Counsel … Powerpoint...andres.duran@ellisdon.com mcmillan.ca...

McMillan LLP | Vancouver | Calgary | Toronto | Ottawa | Montréal | Hong Kong | mcmillan.ca

Wednesday April 27th, 2016

The 10 Most Important Issues General Counsel Should Know About Risk Transfer Involving Insurance

Frank Palmay, P.Eng. Co-Chair, Financial Services Regulatory and Co-Chair, Cybersecurity McMillan - Toronto

Melissa Krishna Deputy General Counsel, Special Projects Pacific Exploration and Production

Andrés Durán Vice President, Legal Services, P3 and International Projects EllisDon

Carol Lyons Co-Chair, Insurance, Financial Services Regulatory McMillan - Toronto

mcmillan.ca l 2

Moderator

Frank Palmay, P.Eng. Senior Counsel McMillan LLP

National Co-chair of McMillan’s Financial Services Regulatory and National Co-chair of McMillan’s Cybersecurity Practices.

Recognized as an expert in the regulatory aspects of

insurance companies. Advises large not-for-profit organizations on corporate

governance and related matters.

Chair of Lifeline Syria

Frank can be reached at 416-307-4037 or frank.palmay@mcmillan.ca

mcmillan.ca l 3

Panelists

Melissa Krishna Deputy General Counsel,

Special Projects Pacific Exploration and

Production

Deputy General Counsel, Special Projects of Pacific Exploration & Production Corp (Pacific E&P).

Leads complex transactions including Pacific E&P’s largest acquisition to date.

Oversees the company’s corporate governance and compliance, and collaborates with its board of directors, senior management and business units to further strategic objectives.

Manages Pacific E&P’s insurance program.

Melissa can be reached at 416-362-7735 Ext.222 or mkrishna@pacificcorp.energy

mcmillan.ca l 4

Panelists

Andrés Durán Vice President, Legal

Services, P3 and International Projects

EllisDon

Extensive experience in dealing with insured claims and other

insurance matters during his time in the infrastructure sector.

Has led or overseen the management of claims (property, personal injury and other), claims processes, the procurement of insurance and insured risk contract analysis on bids for multiple small and large scale infrastructure projects.

Andrés has worked as in house counsel for the Province of Ontario at Infrastructure Ontario, and as Associate at Stikeman Elliott .

Andrés can be reached at 905-803-6007 or andres.duran@ellisdon.com

mcmillan.ca l 5

Panelists

Carol Lyons Partner

McMillan LLP

Co-Chair of the Insurance Group, Financial Services Regulatory.

Advise clients on establishing businesses in Canada, mergers and acquisitions, corporate reorganizations, formation of strategic alliances and contract procurement/outsourcing.

In addition to insurance regulatory work, Carol assists clients with policy reviews and advice with respect to insurance products

Carol can be reached at (416) 307-4106 or carol.lyons@mcmillan.ca.

mcmillan.ca l 6

10 Most Important Issues GC Should Know About Risk Transfer Involving Insurance

1. Identifying the risks that should be and that may be transferred.

mcmillan.ca l 7

10 Most Important Issues GC Should Know About Risk Transfer Involving Insurance

2. Which risks can be insured against and to what extent should they be insured?

mcmillan.ca l 8

10 Most Important Issues GC Should Know About Risk Transfer Involving Insurance

3. Why is the application so important and what can the GC’s office add to the process?

mcmillan.ca l 9

10 Most Important Issues GC Should Know About Risk Transfer Involving Insurance

4. Insurance brokers are usually involved in the placement of insurance but the GC’s Office has an important role to play.

mcmillan.ca l 10

10 Most Important Issues GC Should Know About Risk Transfer Involving Insurance

5. While insurance policies are contracts there are some special rules that apply to them that GC’s should be

aware of.

mcmillan.ca l 11

10 Most Important Issues GC Should Know About Risk Transfer Involving Insurance

If you would like to receive a copy of this flowchart and other flowcharts, please contact: frank.palmay@mcmillan.ca

mcmillan.ca l 12

10 Most Important Issues GC Should Know About Risk Transfer Involving Insurance

6. So your company has applied for an insurance policy and received a binder - is that sufficient?

mcmillan.ca l 13

10 Most Important Issues GC Should Know About Risk Transfer Involving Insurance

7. What is the role of the GC in dealing with claims?

mcmillan.ca l 14

10 Most Important Issues GC Should Know About Risk Transfer Involving Insurance

8. What do you do when your insurer denies your claim?

mcmillan.ca l 15

10 Most Important Issues GC Should Know About Risk Transfer Involving Insurance

9. What are the pros and cons of going to market and/or changing brokers?

mcmillan.ca l 16

10 Most Important Issues GC Should Know About Risk Transfer Involving Insurance

10. Some final thoughts for general counsel to keep in mind.

mcmillan.ca l 17

Final thoughts.

GCs and GC office can play a key role in the insurance area

Risk Assessment

Transfer strategy

Application process

Contract interpretations

Claims

Don’t be afraid to ask for help – not all lawyers/firms have the expertise

McMillan LLP | Vancouver | Calgary | Toronto | Ottawa | Montréal | Hong Kong | mcmillan.ca

McMillan offices

Vancouver Royal Centre, 1055 West Georgia Street Suite 1500, PO Box 11117 Vancouver, British Columbia Canada V6E 4N7 t: 604.689.9111

Calgary TD Canada Trust Tower, Suite 1700 421 7th Avenue S.W. Calgary, Alberta Canada T2P 4K9 t: 403.531.4700

Toronto Brookfield Place, Suite 4400 181 Bay Street Toronto, Ontario Canada M5J 2T3 t: 416.865.7000

Ottawa World Exchange Plaza 45 O'Connor Street, Suite 2000 Ottawa, Ontario Canada K1P 1A4 t: 613.232.7171

Montréal 1000 Sherbrooke Street West Suite 2700 Montréal, QC Canada H3A 3G4 t: 514.987.5000

Hong Kong 3502 Tower 2 Lippo Centre 89 Queensway Hong Kong, China t: 852.3101.0213