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Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer After nearly a decade of planning, Economical Mutual Insurance Co. is on track to announce a $1.9-billion initial public offering in late 2021. Economical announced this week that it will hold a meeting of its 630,000 eligible policyholders in the second quarter of 2021 to vote on the final phase of a proposal to go public in a process known as demutualization. A mutual insurance company is owned by its participating policyholders, whose stake is typically converted into share ownership when the company demutualizes. ....
In Tomec v Economical Mutual Insurance Company, 2019 ONCA 882, the Ontario Court of Appeal allowed an insured s appeal from an application for judicial review of a decision of the Licence and Appeal Tribunal to deny enhanced housekeeping and attendant care benefits. The unanimous panel concluded that the rule of discoverability applied to s. 281.1(1) of the Insurance Act and to s. 51(1) of the old Statutory Accident Benefits Schedule such that the two-year limitation period to dispute benefits could not run before an insured was determined to be catastrophically impaired (CAT). Tomec is now a leading case on limitation periods at the Tribunal. It is the first to say that the two year ....