The appellant, TTC Insurance Company Limited, appealed a decision finding that payments made by the Toronto Transit Commission (TTC) to fulfill an indemnity obligation to the appellant were 'direct earned premiums' for the purpose of calculating the appellant's share of Facility Association costs.
The Court of Appeal dismissed the appeal, holding that the indemnity payments were a direct cost to TTC for obtaining required insurance coverage and fell within the definition of 'premium' under the Insurance Act.