Canadian Underwriter

Mergers and Aqcuisitions

From left to right: Bob Tisdale, Steve Smith, Richard Dubin, Bill Blakeney
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OIAA Claims 2003: Legislative Trade-Off

April 1, 2003 Vikki Spencer

Two new pieces of legislation are changing the landscape for Ontario’s insurers. Changes to the auto insurance system have been much discussed, but falling under the radar is the introduction of contingency fees for lawyers, potentially signaling a swing to

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Insight: Ontario Insurers & Paralegals: Bitter; Rivalry

April 1, 2003 Vikki Spencer

Last December, the Financial Services Commission of Ontario (FSCO) laid seven charges against a Toronto-base paralegal for alleged improprieties in the settlement of an insurance claim. This was followed by the passage of Bill-198 and a subsequent first draft of

Stan Griffin
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CICMA/CIAA Joint Conference:

April 1, 2003 Vikki Spencer

As independent and company adjusters joined together in Toronto for a recent CICMA/CIAA conference, auto claims issues were front and center. From the passage of Bill-198 in Ontario to auto theft, a common message came out of the discussions: the

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New Brunswick auto reforms a “mixed bag” for insurers

March 31, 2003 by Canadian Underwriter

A bill to change New Brunswick’s auto insurance system has been tabled by Justice Minister Brad Green, offering more than 18 reforms to the current system. One move bound to be poorly received by insurers is removal of the province’s

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Nova Scotia launches public discussion on auto insurance

March 21, 2003 by Canadian Underwriter

The Nova Scotia government is asking for public input on a discussion paper about possible reforms to the province’s auto insurance system.Environment and Labour Minister Ron Russell released the discussion paper this week, giving alternatives for possible tort reform, accident

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Drivers leaving anti-theft devices unused: MPI

March 17, 2003 by Canadian Underwriter

Manitoba Public Insurance is warning drivers that unused anti-theft devices leave cars vulnerable to theft. The message comes with the release of MPI’s theft statistics, which showed that in the first two weeks of March, of 360 recovered stolen vehicles

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Price increases not enough to salvage 2002 insurer results

March 11, 2003 by Canadian Underwriter

Insurers reflected on 2001 as “the worst year ever” and had hopes of a turnaround in 2002, but it was not to be. With the Canadian p&c industry bringing in return on equity (ROE) of 1.6%, 2002 now takes the

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Canadian Bar Association calls IBC findings into question

March 4, 2003 by Canadian Underwriter

A new study by the Canadian Bar Association (CBA) suggests court awards for auto accident injuries have gone up only marginally in the last two decades in Nova Scotia, refuting the claims of the Insurance Bureau of Canada (IBC). The

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Co-operators ends 2002 in the red

February 28, 2003 by Canadian Underwriter

Auto claims continued to plague Co-operators General Insurance Company (TSX: CCS.PR.A) as it wound up 2002 with a fourth quarter loss of $2.5 million. This compares with a loss of $2.6 million for the last quarter of 2001.Year-on-year, gross written

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U.S. legislators top concerns in 2002 are auto and worker’s comp

February 26, 2003 by Canadian Underwriter

Auto insurance and workers’ compensation emerged as the top issues for states when it came to insurance legislation last year. This comes from a survey by the National Association of Mutual Insurance Companies (NAMIC).P&c insurers faced 239 new laws last

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Kingsway income jumps on U.S. growth

February 10, 2003 by Canadian Underwriter

Kingsway Financial Services (TSX, NYSE: KFS) brought in record net income for the fourth quarter 2002 and strong full-year earnings, largely as a result of performance from its U.S. operations.Net income for the quarter ending December 31, 2002 was up

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Ontario auto rates rose throughout 2002

February 1, 2003 by Canadian Underwriter

Private passenger auto rates rose 9.2% in the fourth quarter of 2002, says the Financial Services Commission of Ontario (FSCO), the government body that has final say in determining insurers’ rate increases. In the third quarter to end Sept, 2002,