What’s New: In Brief (May 23, 2008)

Pembridge Insurance Company has issued a warning to Alberta consumers “that there is the potential that some Pembridge Insurance Company automobile policies may have been fraudulently sold to consumers in Alberta.”
The Pembridge notice requests Alberta policyholders that have “purchased an auto insurance policy from a representative of Bell Insurance Services [to] please contact Pembridge Consumer Relations immediately at 1-877-726-6786.”
The notice indicates Bell Insurance Services “is not a contracted insurance broker with Pembridge nor are they affiliated with Pembridge.”
Pembridge further advises it is unable to respond to any reported claims that are related to any policy sold by Bell Insurance Services.

The Loyalist Insurance Group Limited (TSX Venture Exchange – NEX symbol: LOY.H) has announced its 2008 Q1 revenue ballooned to Cdn$3.6 million, compared to Cdn$529,371 for the same quarter in 2007.
“The increase in revenue was primarily due to the sale of the assets of the subsidiary,” the company noted in a press release.
The 2008 Q1 net income for the company was Cdn$2.6 million, compared with a net loss of Cdn$42,679 for the same quarter in 2007.
Contingent profit commissions of approximately Cdn$123,000 were received during 2008 Q1, down from Cdn$180,215 in 2007 Q1.