Canadian Underwriter

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Mergers and Aqcuisitions


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Auto insurance among FSCO priorities

May 7, 2002 by Canadian Underwriter

With the recent release of a discussion paper on its 2002 priorities, the Financial Services Commission of Ontario (FSCO) has put auto insurance on the agenda. But what exactly that auto reform will look like is still unclear.Although auto insurance

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Anderson calls on government to act on insurance issues

May 6, 2002 by Canadian Underwriter

On the brink of retirement after ten years as president of the Insurance Bureau of Canada, George Anderson took the opportunity recently to call on the government to act on insurance issues. At a luncheon hosted by the Insurance Institute

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Kingsway Q1 success driven by U.S. operations

May 2, 2002 by Canadian Underwriter

At its AGM in Toronto today, Kingsway Financial Services (TSE, NYSE: KFS) marked yet another record quarter, with net income rising 77% year-on-year for the first three months of 2002. Net income is at $16.3 million versus $9.2 million for

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Veteran Griffin to lead IBC

April 3, 2002 by Canadian Underwriter

Stan Griffin, formerly the head of the Facility Association, has been selected to replace retiring George Anderson as president and CEO of the Insurance Bureau of Canada (IBC).Griffin began with the IBC in 1975 and rose to the position of

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Optimum closes Atlantic offices

March 26, 2002 by Canadian Underwriter

Montreal-based insurer Optimum General is shutting down its Atlantic offices following unacceptable losses in the region’s auto market. The company will cease to write new business and stop renewing policies as of July 1, 2002. Current policies will be honored,

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IBC continues push for Newfoundland auto reform

March 21, 2002 by Canadian Underwriter

Despite a change in public attitudes towards tort reform in Newfoundland, the Insurance Bureau of Canada is continuing to push for changes to the auto insurance system there. In an address to the St. John’s Rotary Club, IBC regional vice

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Canadian insurers end 2001 on dismal financial note

March 13, 2002 by Canadian Underwriter

Canadian property and casualty insurers ended the 2001 financial year with a meager 3% return on equity, with the final quarter industry results showing little improvement over the earlier part of the year with a 0.5% ROE, according to just

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McNaughton v. Co-operators could spawn class action landslide

March 8, 2002 by Canadian Underwriter

The victory of one policyholder in a case involving auto insurance deductibles could give rise to large numbers of Canadians seeking similar action against insurers. A Supreme Court of Canada ruling yesterday denies Co-operators General the right to appeal a

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IBC calls for change in Nova Scotia

February 28, 2002 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is taking the next step in its bid for auto insurance reform in Atlantic Canada. The industry’s representative body is trying to persuade the Nova Scotia government to institute changes that would reduce the

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IBC auto cost study targets "soft tissue" claims

February 5, 2002 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) has released an auto claims cost study conducted in Nova Scotia which shows that the vast majority of claims relate to "soft tissue" injuries, namely sprains and strains. The study was undertaken in response

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IBC makes pitch for Ontario health care reform

January 17, 2002 by Canadian Underwriter

The Insurance Bureau of Canada is calling for changes to the way insurers and rehabilitation service providers deal with each other, in light of the growing cost of auto-related injuries to the industry. In a submission to the Ontario Ministry

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ICN CEO attacks "false statements" suggesting that Newfoundland/Labrador insurance costs are lowest in Canada

December 11, 2001 by Canadian Underwriter

Insurance Corporation of Newfoundland (ICN) CEO Dave Anthony has "denounced" what he calls "false claims" recently made by personal injury lawyers that insurance rates in Newfoundland and Labrador are the lowest in Canada.Anthony spoke at a St. John Northwest Rotary