Canadian Underwriter

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Mergers and Aqcuisitions


News InsuranceMergers and Aqcuisitions

Robert Cooke named new IBC chair

December 6, 2002 by Canadian Underwriter

At the recently held Insurance Bureau of Canada (IBC) annual general meeting, outgoing chair George Cooke commended the bureau for the gains made over the past year in securing government dialogue on auto product reform countrywide. The greatest success has

News InsuranceMergers and Aqcuisitions

Auto insurance still topping IBC concerns

December 4, 2002 by Canadian Underwriter

Despite the introduction of new legislation to deal with some of the issues plaguing Ontario’s auto insurance market, and the decision not to open up B.C.’s auto market to competition, auto remains a top priority for the Insurance Bureau of

Feature Mergers and Aqcuisitions

Taking the Lash Out of Driving

December 1, 2002 Mary Lou Reilly, IBC

Adjusting vehicle head restraints, or headrests, can help prevent the pain of whiplash, says a new Canadian study. The message for drivers: rest up and save your neck.

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IBC unhappy with New Brunswick auto report

November 25, 2002 by Canadian Underwriter

A report on reforming New Brunswick’s auto insurance system is getting a chilly reception from the Insurance Bureau of Canada (IBC).Proposals to control auto rates in the province made by the Select Committee on Auto Insurance will, the IBC says,

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B.C. government stalls insurance deregulation drive

November 25, 2002 by Canadian Underwriter

The Liberal B.C. government announced that it has temporarily opted against open competition in the province’s basic, mandatory auto insurance market.The provincial government delivered its long-awaited “Core Review” findings in investigating the operation of crown insurer, the Insurance Corp. of

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Co-operators cuts new business in Alberta

November 6, 2002 by Canadian Underwriter

The Co-operators General Insurance says it will not accept new business at “preferred” auto rates in Alberta after November 1, 2002. In essence this means the Co-operators operation will no longer write the business, but will offer those clients rates

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Insurers defend new Ontario auto insurance legislation

November 4, 2002 by Canadian Underwriter

Despite criticism this past week by opponents to the recent auto insurance legislation reform measures brought into place in Ontario, the Insurance Bureau of Canada (IBC) holds firm that the actions taken will provide long-term cost benefits for policyholders. “the

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Ontario auto rates jump in third quarter

November 1, 2002 by Canadian Underwriter

Applications by Ontario private passenger auto insurers for rate increases in the third quarter 2002 were up 8.33% on average, compared with average increases of 5.9% in the second quarter.At September 30, 2002, the average cost of auto insurance was

News InsuranceMergers and Aqcuisitions

IBC applauds Ontario auto reform

October 30, 2002 by Canadian Underwriter

The much anticipated Ontario auto insurance reforms have now been put before the legislature and the industry’s lobby body is pleased.Reacting to the news that Ontario Finance Minister Janet Ecker has tabled legislation that will allow future changes to the

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Collision repair standards pass second reading

October 21, 2002 by Canadian Underwriter

The controversial act to certify Ontario’s bodyshops has passed second reading at Queen’s Park. The Collision Repair Standards Act 2002 will now go to the committee stage for hearings and then to third and final reading.Some insurers have been against

News InsuranceMergers and Aqcuisitions

Ontario auto remains under cost pressure, A.M. Best says

October 21, 2002 by Canadian Underwriter

A study released by rating agency A.M. Best on Ontario auto insurance suggests that the market’s loss ratio had risen by 10 percentage points to a high of 91.4% by the end of 2001. Auto insurers operating in Ontario brought

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Loyalist withdrawal leads to downgrade

October 18, 2002 by Canadian Underwriter

The withdrawal of Loyalist Insurance Company from the Ontario auto market has prompted A.M. Best to lower the company’s public data rating to B- from B.The rating agency notes that last year Ontario auto accounted for 60% of Loyalist’s direct