Topic
Mergers and Aqcuisitions
What’s new: In brief (June 27, 2004)
June 27, 2004 by Canadian UnderwriterInsurance Corp. of B.C. has paid out $4.4 million in tax grants to communities, which the Crown corporation does in lieu of paying real property and business taxes. Thirty communities received grants of between $10,000 to $1 million. Those communities…
What’s new: In brief (June 24, 2004)
June 24, 2004 by Canadian UnderwriterSIAA Canada has signed its newest master broker, Brokers Helping Brokers Alliance, and its founders, Rhodes & Williams Ltd. of Ottawa also join the SIAA network. BHB Alliance will cover eastern Ontario, and will help small to mid-size brokers obtain…
Pembridge CEO slams Alberta auto plan
June 24, 2004 by Canadian UnderwriterThe new Alberta auto insurance scheme will see good drivers subsidizing bad, says Pembridge Insurance Co. president Bob Tisdale. While the plan will see rates drop by 5% for good drivers, bad drivers receive the greatest benefits, he contends, with…
What’s new: In brief (June 23, 2004)
June 23, 2004 by Canadian UnderwriterManitoba Public Insurance (MPI) has honored seven grade seven and eight students for projects on auto theft including stories, a video, a poster and a comic strip. “The typical auto thief will steal his or her first car at 13,”…
Rising interest rates should prolong hard market: Swiss Re
June 22, 2004 by Canadian UnderwriterRising interest rates dampening investment results should prolong the hard insurance market through the end of 2005, Swiss Re experts said at the reinsurer’s “Mid-Year Economic and Insurance Industry Teleconference”. “We expect the next year to be good for corporate…
Alberta auto reforms get seal of approval
June 22, 2004 by Canadian UnderwriterAlberta’s auto reform plans have received the final stamp of approval from the provincial Cabinet, setting the launch date for October 1.A committee of legislators is being put together to ensure a smooth transition to the new system, which includes…
NF withdrawal still on the table for FA
June 21, 2004 by Canadian UnderwriterThe Facility Association (FA) is not prepared to withdraw from Newfoundland yet, but that option is still very much on the table, following a special meeting of member insurers Monday.FA CEO David Simpson says members are “mindful that Bill-30 has…
MPP’s comments “only half the story”: IBC
June 20, 2004 by Canadian UnderwriterComments made the New Brunswick NDP leader Elizabeth Weir are off the mark, says the Insurance Bureau of Canada (IBC).Weir stated that insurance rate decreases in the province were amongst the lowest in the country, but the IBC says in…
Road debris responsible for 612 car accident casualties in 2001: AAA
June 16, 2004 by Canadian UnderwriterA new study by the American Automobile Association’s Foundation for Traffic Safety estimates five deaths and 607 injuries were the result of car accidents due to road debris in Canada in 2001. In fact, between 1999 and 2001, the AAA…
Prospect of FA withdrawal highlights Newfoundland auto woes
June 16, 2004 by Canadian UnderwriterThe potential for the Facility Association (FA) the industry’s pool for high-risk drivers to exit Newfoundland should be a sure sign to the province’s government that auto reforms newly legislated are a step in the wrong direction, says one risk…
US commercial and personal lines given stable outlook: S&P
June 14, 2004 by Canadian UnderwriterAt long last, the U.S. commercial lines sector has seen its outlook revised by rating agency Standard & Poor’s to stable, in line with the personal lines outlook.S&P points to a “delicate balance” between earnings growth and legacy reserving issues…
What’s new: In brief (June 14, 2004)
June 14, 2004 by Canadian UnderwriterThe Canadian Independent Adjusters Association (CIAA) has revised its program for the 2004 annual convention to be held in Whistler, BC, September 9-12. Friday now includes an entire day of educational sessions, revolving around the issues of legislative change and…