What is the duty of a third party to provide financial information to a customer in breach of an insurance contract?

Alberta, Canada


The following excerpt is from Raypath Resources Limited v. Toronto-Dominion Bank, 1996 ABCA 160 (CanLII):

Generally, he found that the appellant owed a duty to the respondent based on their relationship of banker and customer and that that duty had to be carried out to a standard consistent with the terms of the contract between them, their course of conduct, their ongoing relationship and the practice of the banking industry. Furthermore, those factors were the foundation for the duty to provide information where there had been a voluntary assumption of the responsibility or where the business relationship involved the provision of advice or information. Fletcher v. Manitoba Public Insurance Corporation (1990) 1990 CanLII 59 (SCC), 5 C.C.L.T. (2d)1 (S.C.C.).

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