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News Mergers and Aqcuisitions

What’s new: In brief (January 11, 2005)

January 11, 2005 by Canadian Underwriter

CIBC Insurance is providing quotes on p&c insurance from various other insurers, to clients in Ontario and Alberta, via the bank’s website. The site provides a link to online insurance marketplace Kanetix as a service to clients, although CIBC no

News Mergers and Aqcuisitions

Coalition highlights “frauds to watch for” in 2005

January 9, 2005 by Canadian Underwriter

The U.S. Coalition Against Insurance Fraud has released its list of “frauds to watch out for” in 2005.Among the top scams consumers should be on the lookout for are bogus airbags the CAIF says there have been instances where insurance

News CatastrophesMergers and Aqcuisitions

What’s new: In brief (January 09, 2005)

January 9, 2005 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) has produced two new consumer bulletins. The first, “Shop and Save on Auto Insurance”, outlines the different distribution methods for auto insurance, as well tips on premium savings, such as raising deductibles. The

News CatastrophesMergers and Aqcuisitions

What’s new: In brief (January 05, 2005)

January 5, 2005 by Canadian Underwriter

Troubled Loyalist Insurance Group Ltd. (TSX Venture: LOY) has been downgraded to “tier 2” status by the TSX Venture Exchange. Trading in Loyalist shares was halted by the TSX on December 7, on failure to file interim financial results. The

News Mergers and Aqcuisitions

“Car-jacking that wasn’t” tops list of Manitoba frauds

January 5, 2005 by Canadian Underwriter

In its annual list of the “top five” frauds, Manitoba Public Insurance (MPI) has given the dubious top honors for 2004 to the victim of an imaginary ca-jacking.A 24-year-old Winnipeg man filed a claim with the public auto insurer, saying

News Mergers and Aqcuisitions

What’s new: In brief (January 03, 2005)

January 3, 2005 by Canadian Underwriter

Canadian Alliance of Physical Damage Appraisers (CAPDA) and U.S.-based Insurance Appraisal Network (IAnet), national networks of appraisal and adjusting services, have signed a strategic relationship to offer services in both countries. CAPDA is a network of automotive appraisers and inspectors

News Mergers and Aqcuisitions

Divergent outlooks for U.S. personal v. commercial lines in 2005: S&P

December 23, 2004 by Canadian Underwriter

The future looks very different for U.S. personal lines insurance versus its commercial lines counterpart, according to the yearend review and outlook by Standard & Poor’s.The rating agency says that while the outlook for personal lines is stable, with earnings

News Mergers and Aqcuisitions

What’s new: In brief (December 23, 2004)

December 23, 2004 by Canadian Underwriter

Kingsway Financial Services and its U.S. holding company, Kingsway America Inc., have had their ratings affirmed by Dominion Bond Rating Service, based on its consistent execution of strategy and strong underwriting performance. Specific note was taken of improvement in the

News Mergers and Aqcuisitions

ICBC nets two guilty pleas on “false information” charges

December 22, 2004 by Canadian Underwriter

The Insurance Corp. of B.C. says two residents of the provinces have pleaded guilty to charges stemming from providing false information to the public auto insurer in two separate incidents.In the first case, Ahmad Reza Ahmadj of New Westminster, B.C.

News Mergers and Aqcuisitions

Collision repair reps meet with Colle on tow truck rules

December 21, 2004 by Canadian Underwriter

Representatives of the collision repair industry recently met with the man in charge of reforming Ontario’s auto insurance rules to discuss proposals relating to bodyshops and tow trucks.Hamilton District Autobody Repair Association (HARA) executive director John Norris says he and

News Mergers and Aqcuisitions

Pafco to begin writing in Nova Scotia

December 21, 2004 by Canadian Underwriter

Pafco Insurance Co., writer of non-standard auto insurance, has received interim approval to start writing policies in Nova Scotia.The move is part of Pembridge’s plan to spin-off Pafco as a separate brand to write high-risk policies and depopulate the Facility

News Mergers and Aqcuisitions

IPOs highlight strength of non-standard auto writers: A.M. Best

December 20, 2004 by Canadian Underwriter

The flurry of initial public offering activity amongst non-standard auto insurance carriers show just how far this sector has rebounded following disastrous results from 1999-2001, notes a new report by A.M. Best.In a special “Then and Now” report on non-standard