What’s New: In Brief (April 02, 2007)

Kingsway Financial Services Inc. (TSX:KFS, NYSE: KFS) announced the completion of the acquisition of Mendota Insurance Company, a wholly owned subsidiary of The Travelers Company, Inc.. The transaction includes Mendotas wholly owned subsidiaries, Mendakota Insurance Company and Mendota Insurance Agency, Inc.. The purchase price has been funded through a combination of internal sources and Kingsways existing credit facilities. Mendota currently writes non-standard automobile insurance business through a network of approximately 6,000 independent agency locations.

In a report released this week, Vancouver city staff debated the notion of placing the responsibility to uncollect unpaid fines issued under Mayor Sam Sullivans Project Civic City initiative in the hands of the Insurance Corporation of British Columbia (ICBC), reports the <i>Vancouver Sun</i>. The city wants to tack the fines on to drivers licence renewals and ICBC premiums for those who refuse to pay. Of the 217 tickets that have been issued under the Municipal Ticket Information pilot project most of them issued by police to people defecating or urinating in public, jaywalking, ignoring traffic signals and fighting only 41 have been paid. But ICBC official Doug Henderson told the Sun that, in our view when it comes to denying licences or insurance coverage it should have something to do with driving.