Canadian Underwriter

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News Mergers and Aqcuisitions

Kingsway ROE jumps to 18.2% in second quarter

August 11, 2003 by Canadian Underwriter

Reporting record results for the second-quarter and first half of 2003, Kingsway Financial Service Inc. (TSE, NYSE: KFS) says its annualized return on equity of 18.2% for the quarter, versus 11.8% for Q2 2002.Net income for the quarter grew 68%

News Mergers and Aqcuisitions

NB strikes committee to look at public auto

August 6, 2003 by Canadian Underwriter

Hot on the heels of a throne speech demanding insurers reduce auto insurance rates in New Brunswick, the provincial Conservative government is striking a committee to review the potential for a public auto insurance system.MLA Elizabeth Weir has been asked

News Mergers and Aqcuisitions

Insurers respond to New Brunswick bill

August 1, 2003 by Canadian Underwriter

Responding to the amendment bill announced this week by the New Brunswick government to the province’s Insurance Act – which primarily presents insurers with an August 15 ultimatum to file for lower auto insurance rates or face immediate across-the board

News Mergers and Aqcuisitions

New Brunswick presents insurers with stiff ultimatum

July 31, 2003 by Canadian Underwriter

In its first “throne speech” since the recent provincial election, New Brunswick’s Conservative Party (CP) government announced a legislative amendment to its Insurance Act which will require all registered insurers to file for new auto rates by August 15 of

News Mergers and Aqcuisitions

IBC points to flaws in consumer group study of auto insurance

July 18, 2003 by Canadian Underwriter

Responding to a study on auto insurance released by the Consumers’ Association of Canada (CAC), the Insurance Bureau of Canada (IBC) says consumers will be misled by the findings.The study compares auto insurance rates in Nova Scotia to those in

News Mergers and Aqcuisitions

Ontario auto rates jump 8.5% in second quarter 2003

July 15, 2003 by Canadian Underwriter

Ontario auto insurance rates went up an average 8.48% in the second quarter of 2003, based on rate applications approved by the Financial Services Commission of Ontario (FSCO).These changes came into effect prior to the implementation of regulations tied to

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Ontario auto “white paper” brings positive industry reaction

July 11, 2003 by Canadian Underwriter

Insurers are generally pleased with proposals set out in a new Ontario government “white paper” to further reform the auto insurance system.Many of the provisions are aimed at reducing health care costs and court awards on auto accident claims, something

News Mergers and Aqcuisitions

Eves wants coordinated effort on auto insurance

July 10, 2003 by Canadian Underwriter

As premiers meet in Charlottetown this week, Ontario’s Ernie Eves wants to see the provinces working together on the auto insurance issue.Eves listed auto insurance as his top priority, alongside federal disaster relief for the SARS outbreak.Eves says that his

News Mergers and Aqcuisitions

Nova Scotia latest to cap “pain and suffering” awards

July 9, 2003 by Canadian Underwriter

Following the lead of New Brunswick, Nova Scotia has implemented a plan to cap “pain and suffering” awards on minor injuries that result from auto accidents.The cap means the in minor injury cases, such as whiplash, accident victims who go

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Health care providers support Ontario auto regs

July 8, 2003 by Canadian Underwriter

A group representing many health care providers is going public with its support for auto insurance reforms implemented by the Ontario government.The Coalition of Regulated Health Professional Associations and Allied Organizations says it supports regulations for Bill-198 which put in

News Mergers and Aqcuisitions

Insurance Co. of PEI latest to lower New Brunswick rates

July 4, 2003 by Canadian Underwriter

SGI-owned The Insurance Co. of PEI says it will defer a previously announced rate increase on New Brunswick auto insurance, which should result in premiums dropping 10%-18% for policies renewed after July 1.The company calls the move “an interim step”

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Ontario auto regulations meet insurer approval

July 3, 2003 by Canadian Underwriter

After more than six months, Ontario has finally put auto insurance regulations on the books in response to Bill-198. The changes were as anticipated and met with insurer approval as a means to address rising accident benefits (AB) costs.Among the