Keyword
Ontario
Non-approved Ontario auto forms do not always render insurance contracts void: Court of Appeal
May 10, 2017 by Canadian UnderwriterIf an Ontario auto insurer uses a form that is not approved by the province’s Superintendent of Financial Services, this does not necessarily render the contract of insurance void, the province’s appeal court suggested in a ruling released Wednesday. On…
McFarlan Rowlands Insurance Brokers announces acquisition of Callister Musico Insurance Group
May 10, 2017 by Canadian UnderwriterLondon, Ont.-based McFarlan Rowlands Insurance Brokers announced on Wednesday that it will acquire Callister Musico Insurance Group of Sarnia, Ont. Located at 1315 Michigan Ave. in Sarnia, the Callister Musico office will become McFarlan Rowlands’ 15th branch in Ontario, allowing…
Ontario Chamber of Commerce endorses major changes to auto insurance rate regulation
May 9, 2017 by Canadian UnderwriterThe Ontario Chamber of Commerce (OCC) is calling on the provincial government to put an end to its existing auto rate filing system, a system the chamber describes as “one of the most costly, onerous, and restrictive in North America.”…
Flooding in Ontario and Quebec in April and May estimated to cost “well into the millions” in U.S. dollars: Aon Benfield
May 9, 2017 by Canadian UnderwriterFlooding in multiple communities in southern Ontario and Quebec in April and into May is estimated to cost “well into the millions of dollars (USD)” in economic losses, Impact Forecasting said on Tuesday in its Global Catastrophe Recap report for…
City loses argument that nine-year-old contributorily negligent after being hit by car
May 9, 2017 by Canadian UnderwriterThe Supreme Court of Canada has dismissed an application from the City of Hamilton for leave to appeal a finding that a nine-year-old boy was not contributorily negligent after he was hit by a car at a location where a…
Economical Insurance posts net income of $5.3 million in 2017 Q1, down from $28.5 million in prior-year quarter
May 8, 2017 by Canadian UnderwriterAuto lines, catastrophe and weather-related losses served as a drag on underwriting results which, in turn, contributed to Economical Insurance posting net income of $5.3 million in 2017 Q1 compared to $28.5 million in 2016 Q1. “Higher investment income was…
‘No active deals on the table’ to sell minority interest in SGI Canada
May 7, 2017 by Canadian UnderwriterSaskatchewan has a new law allowing for the sale of up to 49% of crown corporations, but the provincial government will continue to have a monopoly on compulsory auto insurance, a spokesperson for Saskatchewan Government Insurance told Canadian Underwriter Friday.…
Heavy rain likely to cause new or more flooding in Quebec and Ontario
May 5, 2017 Michelle McQuigge - THE CANADIAN PRESSPersistent, steady rains soaking swaths of central and eastern Canada that have already endured record precipitation levels threatened to trigger widespread flooding Friday and put residents and governments on high alert. Environment Canada said a massive system is slowly drenching…
Two Ontario, two Alberta brokerages join BrokerLink
May 5, 2017 by Canadian UnderwriterBrokerLink has welcomed four brokerages – two in Ontario; two in Alberta – to the fold in a move that expands the company’s reach while providing the four brokerages and their employees greater access to resources and opportunities. The brokerages…
Echelon reports Canadian combined ratio of 94% for Q1 2017, down 6% from Q1 2016
May 4, 2017 by Canadian UnderwriterMississauga, Ont.-based Canadian P&C insurer Echelon Financial Holdings Inc. has reported a Canadian combined operating ratio of 94% for the three months ending March 31, down from 100% in Q1 2016 and driven by strong results in both personal and…
Recommended Fixes
May 3, 2017 Greg Meckbach, Associate EditorThe Ontario government released April 11 an advisory report with 35 recommendations on how to reform auto insurance. It was well-received by Insurance Bureau of Canada and the province’s brokers association.
The Co-operators reports net income of $34.6 million for Q1 2017, combined ratio of 102.5%
May 2, 2017 by Canadian UnderwriterGuelph, Ont.-based Co-operators General Insurance Company has reported a consolidated net income of $34.6 million for the first quarter of 2017 ending March 31, down from $39.3 million in the first quarter of 2016. The company’s combined ratio, excluding market…