Topic
Mergers and Aqcuisitions
Newfoundland puts out call for participation in insurance hearings
January 16, 2005 by Canadian UnderwriterOn the heels of publishing its claims study, Newfoundland’s Public Utilities Board (PUB) is asking for public input to a series of insurance hearings.The first hearings will deal with auto insurance, with the completion of the PUB’s study of closed…
What’s new: In brief (January 13, 2005)
January 13, 2005 by Canadian UnderwriterThe U.S. Insurance Research Council (IRC) says auto injury fraud is adding about US$5 billion to claims costs per year, based on 2002 data. The study also found indications of fraud in 10% of all paid bodily injury claims, and…
What’s new: In brief (January 11, 2005)
January 11, 2005 by Canadian UnderwriterCIBC Insurance is providing quotes on p&c insurance from various other insurers, to clients in Ontario and Alberta, via the bank’s website. The site provides a link to online insurance marketplace Kanetix as a service to clients, although CIBC no…
Coalition highlights “frauds to watch for” in 2005
January 9, 2005 by Canadian UnderwriterThe U.S. Coalition Against Insurance Fraud has released its list of “frauds to watch out for” in 2005.Among the top scams consumers should be on the lookout for are bogus airbags the CAIF says there have been instances where insurance…
What’s new: In brief (January 09, 2005)
January 9, 2005 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has produced two new consumer bulletins. The first, “Shop and Save on Auto Insurance”, outlines the different distribution methods for auto insurance, as well tips on premium savings, such as raising deductibles. The…
What’s new: In brief (January 05, 2005)
January 5, 2005 by Canadian UnderwriterTroubled Loyalist Insurance Group Ltd. (TSX Venture: LOY) has been downgraded to “tier 2” status by the TSX Venture Exchange. Trading in Loyalist shares was halted by the TSX on December 7, on failure to file interim financial results. The…
“Car-jacking that wasn’t” tops list of Manitoba frauds
January 5, 2005 by Canadian UnderwriterIn its annual list of the “top five” frauds, Manitoba Public Insurance (MPI) has given the dubious top honors for 2004 to the victim of an imaginary ca-jacking.A 24-year-old Winnipeg man filed a claim with the public auto insurer, saying…
What’s new: In brief (January 03, 2005)
January 3, 2005 by Canadian UnderwriterCanadian Alliance of Physical Damage Appraisers (CAPDA) and U.S.-based Insurance Appraisal Network (IAnet), national networks of appraisal and adjusting services, have signed a strategic relationship to offer services in both countries. CAPDA is a network of automotive appraisers and inspectors…
Divergent outlooks for U.S. personal v. commercial lines in 2005: S&P
December 23, 2004 by Canadian UnderwriterThe future looks very different for U.S. personal lines insurance versus its commercial lines counterpart, according to the yearend review and outlook by Standard & Poor’s.The rating agency says that while the outlook for personal lines is stable, with earnings…
What’s new: In brief (December 23, 2004)
December 23, 2004 by Canadian UnderwriterKingsway Financial Services and its U.S. holding company, Kingsway America Inc., have had their ratings affirmed by Dominion Bond Rating Service, based on its consistent execution of strategy and strong underwriting performance. Specific note was taken of improvement in the…
ICBC nets two guilty pleas on “false information” charges
December 22, 2004 by Canadian UnderwriterThe Insurance Corp. of B.C. says two residents of the provinces have pleaded guilty to charges stemming from providing false information to the public auto insurer in two separate incidents.In the first case, Ahmad Reza Ahmadj of New Westminster, B.C.…
Collision repair reps meet with Colle on tow truck rules
December 21, 2004 by Canadian UnderwriterRepresentatives of the collision repair industry recently met with the man in charge of reforming Ontario’s auto insurance rules to discuss proposals relating to bodyshops and tow trucks.Hamilton District Autobody Repair Association (HARA) executive director John Norris says he and…