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Mergers and Aqcuisitions


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Insurers prepared for Alberta auto rebates while reform talks continue

January 20, 2004 by Canadian Underwriter

About 90% of the auto insurance companies in Alberta had filed for rate rebates or credits as of January 14, although customers may wait months to actually receive their rebate.The rollbacks are part of a provincial government plan to reform

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New car owners lack insurance knowledge

January 15, 2004 by Canadian Underwriter

New car owners know far more about the vehicle they are purchasing than they do about the insurance they buy to cover it, says a study by U.S. insurer Progressive.The survey of new car buyers should that while 98% could

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MPI net income up despite claims growth

January 15, 2004 by Canadian Underwriter

For the first three quarters ending November 30, 2003, Manitoba Public Insurance (MPI) is reporting growth in net income to $38.7 million, up from $23.1 million for the same period a year earlier.Investment income was almost double, hitting $85.4 million

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Insurers voice pleasure with new Ontario auto reforms

January 12, 2004 by Canadian Underwriter

Insurers are coming out in favor of new reforms introduced in the Ontario legislature. The McGuinty Liberals had promised reforms after freezing rates shortly after taking office in October. The reforms mean that the rate freeze will end, but insurers

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Auto reforms regulated in Ontario

January 12, 2004 by Canadian Underwriter

The reforms hinted at with the passage of “The Automobile Rate Stabilization Act of 2003” have now made their way into regulation. Friday, the Ontario Liberal government announced that it would repeal the auto rate freeze introduced late last year

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MPI releases first “top frauds” list

January 8, 2004 by Canadian Underwriter

To bring fraud fighting into the spotlight, Manitoba Public Insurance (MPI), the province’s government auto insurer, has released its first ever “top five frauds” list.Topping the list is a Winnipeg man who dumped and set fire to his mother’s car

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Auto accidents account for half of major injuries in Canada

December 23, 2003 by Canadian Underwriter

A new report from the Canadian Institute for Health Information (CIHI) notes that almost half of all major injuries sustained in 2001-2002, 47%, were the result of motor vehicle accidents. And men bore the brunt, accounting for 67% of all

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StatsCan auto rate data misleads: Fraser Institute

December 18, 2003 by Canadian Underwriter

Statistics Canada data on auto insurance premiums is not only misleading, it caused the Bank of Canada to incorrectly hike interest rates, suggests a new study by right-wing think tank The Fraser Institute.The study says that StatsCan has been incorrectly

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MPI rates to rise 3.7% in 2004

December 9, 2003 by Canadian Underwriter

Manitoba Public Insurance (MPI) has broken its six-year rate freeze, and will up basic auto insurance rates by 3.7% for 2004. The province’s Public Utilities Board (PUB) ordered the increase, which will add about $30 to the average family passenger

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MPI applauds court’s tough stance on fraud

December 8, 2003 by Canadian Underwriter

Manitoba Public Insurance (MPI) is welcoming a judgement by the province’s courts to hand a jail term to a man convicted of fraud against the public auto insurer.John Francis Lucas, 50, was given a two-year sentence for fraud under $5,000

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Jury awards ICBC $4.5 million in chop shop suit

December 5, 2003 by Canadian Underwriter

A British Columbia Supreme Court jury has awarded ICBC $4.5 million in a civil lawsuit against two brothers who operated a chop shop in Mission, B.C. It is believed to be the largest punitive award of its kind.<br> “This is

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SUV bumpers rated poor in low-speed collisions

December 1, 2003 by Canadian Underwriter

In two separate crash test studies, midsize SUVs (sport utility vehicles) fared relatively worse at lower speeds, according to research by the U.S. Insurance Institute for Highway Safety (IIHS). In tests simulation 40 mph frontal offset crashes, eight of nine