Topic Mergers and Aqcuisitions
Royal & SunAlliance boost broker contracts in New Brunswick
April 20, 2004 by Canadian UnderwriterRoyal & SunAlliance Canada Group has appointed four new brokerages to its book in northern part of New Brunswick. The insurer says it will look at expanding overall capacity in the province’s auto insurance market based on the product cost-cutting…
Fraser report hits public auto again
April 19, 2004 by Canadian UnderwriterAnother Fraser Institute report lashing out at public auto insurance systems was released today. The right-wing think tank says public auto equals the highest premiums and the lowest claims payouts, and is tantamount to selling the public a “lemon”.The study…
Co-operators Group produces $64 million income for 2003
April 18, 2004 by Canadian UnderwriterThe Co-operators Group announced at is recent AGM that it has paid $4.7 million total in dividends of shares and cash to its member owners 28 Canadian co-operatives and other organizations as well as $10.7 million in dividends to participating…
Insurers issue Ontario rate decreases
April 15, 2004 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) today confirmed insurers have filed the required 10% lower auto insurance rates mandated by the provincial Liberal government.During the first quarter of 2004, the average rate drop was 10.15%, weighted by insurer marektshare.…
Risk reduction only response to terrorism threat: LOMA study
April 14, 2004 by Canadian UnderwriterA new study of emerging risks shows life & health insurers dealing with the threat of man-made catastrophes along with their property & casualty counterparts. The study, by international insurance research organization LOMA, concludes that insurers have a role to…
N.B. brokers want competitive market
April 13, 2004 by Canadian UnderwriterReacting to the release of New Brunswick’s Select Committee Report on Public Automobile Insurance, the province’s brokers say they want to keep competition for their consumers.The Insurance Brokers Association of New Brunswick (IBANB) is critical of the committee’s report, saying…
FSCO releases priorities for comment
April 12, 2004 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has released its annual statement of priorities for comment, highlighting continued movement to more risk-based regulation and national harmonization of rules.Among the plans put on the table for 2004 is to implement a…
Crown Attorneys decry reduced focus on property crime
April 11, 2004 by Canadian UnderwriterOntario’s prosecutors are unhappy with news of a provincial plan to shift resources away from fighting property crime in an attempt to focus on gun and gang-related crime.The Ontario Crown Attorneys’ Association (OCAA) was responding to an interview on TVO…
ING adds voice against public auto for New Brunswick
April 8, 2004 by Canadian UnderwriterResponding to the recent release of a report on potential public auto in New Brunswick, ING Insurance says if product reforms were achieved in the province, private insurers could provide a cheaper product that any public system.“Essentially, the Select Committee…
IBC touts Facility depopulation in New Brunswick
April 7, 2004 by Canadian UnderwriterThe month of March saw 2,000 moved out of the Facility Association, the industry’s pool for high-risk drivers, says the Insurance Bureau of Canada (IBC). The announcement comes on the heels of a the release of a committee report on…
Cost of public auto in New Brunswick would be $82 million
April 4, 2004 by Canadian UnderwriterWith the release of a committee report on the potential for public auto insurance in New Brunswick, cost of establishing the system has been pegged at $82 million. The report, presented by NDP MLA Elizabeth Weir, the committee’s chair, is…
U.S auto rates to level out in 2004: III
March 31, 2004 by Canadian UnderwriterAfter three years of sharp price increases, auto insurance rates in the U.S. are expected to rise just 3.5% in 2004, says the Insurance Information Institute (III).However, certain states may not see this leveling trend, such as Florida, Massachusetts and…