Wind up order issued for Markham General

The Ontario Superior Court of Justice today issued a wind up order for Markham General Insurance Co. This move follows application earlier this week by the Financial Services Commission of Ontario (FSCO) to seize the assets of the insurer.
The court has appointed Deloitte and Touche Inc. as the provisional liquidator. Markham General was licensed to conduct business in Ontario, British Columbia and Alberta. The bulk of business written by the company was Ontario auto. The insurer ceased writing business mid-June of this year, when existing policies were also cancelled. The Property and Casualty Insurance Compensation Corp.’s (PACICC) president Alex Kennedy says claims will be considered relating to events that happened on or before the date of cancellation of Markham General policies.