Canadian Underwriter

Topic Mergers and Aqcuisitions

News Mergers and Aqcuisitions

IBC, Consumers’ Association at odds over auto insurance rates

September 11, 2003 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) and the Consumers’ Association of Canada (CAC) are engaging in a war of words over the cost of auto insurance, following the release of a study by the CAC suggesting rates in Ontario are

News Mergers and Aqcuisitions

Ontario auto battle heats up over public/private study

September 5, 2003 by Canadian Underwriter

As Ontario heads into an early October election, auto insurance stands to be a key issue on the campaign trail. An early volley was thrown with the release of a study by The Fraser Institute, a conservative public policy organization

News Mergers and Aqcuisitions

Federation withdraws from Newfoundland on auto insurance proposals

September 4, 2003 by Canadian Underwriter

Proposals by the Newfoundland government to change that province’s auto insurance system are the cause of Federation Insurance Co. of Canada’s decision to stop writing personal lines in that province, the company says.In a media release, the company says it

News Mergers and Aqcuisitions

Eves’ government announces additional auto insurance reforms

September 2, 2003 by Canadian Underwriter

As expected, the Ontario government has formally proposed additional changes to the auto insurance system on the heels of implementation of Bill-198.Premier Ernie Eves today announced the program which includes a reduction in the premium tax from 3% to 2%,

News Mergers and Aqcuisitions

Insurers applauding Ontario auto reforms

September 2, 2003 by Canadian Underwriter

Additional auto insurance reforms, coming on the heels of those contained in Bill-198, are being welcomed with open arms by Ontario insurers.The reforms include several measures insurers have long been pushing for in the province, including a reduction in the

News Mergers and Aqcuisitions

RBC Insurance division produces higher net income on home & auto

August 28, 2003 by Canadian Underwriter

Home and auto insurance performance is the key factor in increased net income, says Royal Bank of its RBC Insurance division, along with Canadian life and reinsurance progress. The division reports that for the third quarter ending July 31, 2003,

News Mergers and Aqcuisitions

Insurers not impressed with Newfoundland auto reforms

August 27, 2003 by Canadian Underwriter

The package of auto insurance reforms announced by the Newfoundland government yesterday is drawing the ire of insurers. The Insurance Bureau of Canada (IBC) says the government needs to “rethink” the reforms as they will add confusion and additional cost

News Mergers and Aqcuisitions

Newfoundland auto insurance plan includes optional coverage and rate freeze

August 26, 2003 by Canadian Underwriter

New changes to Newfoundland’s auto insurance system announced today include optional coverage for minor pain and suffering, and a rate freeze.Following on the heels of other Atlantic provinces introducing changes to tackle rising auto insurance rates, Newfoundland has released a

News Mergers and Aqcuisitions

IBC responds to Consumer Association’s blackout concerns

August 20, 2003 by Canadian Underwriter

In response to a statement recently released by the Consumers’ Association of Canada (CAC) calling for the Ontario government to establish a watchdog body to ensure that claims relating to the power outage are dealt with fairly by insurers, the

News Mergers and Aqcuisitions

Louisiana insurers to pay US$22 million for Tropical Storm Bill

August 20, 2003 by Canadian Underwriter

The price tag for insurers in Louisiana as a result of Tropical Storm Bill is estimated at US$22 million, says the state’s Department of Insurance (LDOI).Insurance commissioner Robert Wooley says the latest figure includes claims under the federal flood insurance

News Mergers and Aqcuisitions

ICBC net income up on expense reduction and real estate sale

August 18, 2003 by Canadian Underwriter

The Insurance Corp.of B.C. (ICBC) is reporting net income of $77 million for the six months ending June 30, 2003, largely on the back of reduced expenses, rate hikes and the sale of certain real estate. This represents a significant

News Mergers and Aqcuisitions

PEI adds “pain and suffering” cap, but proposes stricter regulation

August 13, 2003 by Canadian Underwriter

Reacting to news that the government of Prince Edward Island intends to join other province’s in implementing a $2,500 cap on “pain and suffering” awards for auto accident victims, insurers are holding back on the celebration. While the cap is