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Mergers and Aqcuisitions


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Cunningham Lindsey sends Canadian adjusters to aid flooding activity in Australia

April 28, 2010 by Canadian Underwriter

Cunningham Lindsey has deployed 10 of its Canadian adjusters to assist with catastrophe response efforts in Australia.Severe storm activity in March resulted in massive flooding in and around Perth.More than 120,500 property and motor vehicle claims were reported as of

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Ontario Appeal Court refines concept of damages “too remote” for recovery

April 27, 2010 by Canadian Underwriter

The Ontario Court of Appeal has refined the concept of “damages too remote for recovery,” recently distinguishing the fact situation in Frazer v. Haukioja from that of the Supreme Court of Canada case, Mustapha v. Culligan of Canada Ltd. In

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Cunningham Lindsey merges Markham and Toronto North offices

April 26, 2010 by Canadian Underwriter

Cunningham Lindsey is merging its Markham and Toronto North offices effective May 1, 2010. Toby Collins will be the branch manager of the newly merged office, which will be in the current Toronto North location. Toronto North adjusters Pamela Allen,

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SGI Canada reports most profitable year ever in 2009

April 26, 2010 by Canadian Underwriter

SGI Canada has reported a net income of $52.4 million – the most profitable year in the corporation’s history – in part due to a low number of storm losses. Continued growth in the provincial economy provided premium growth of

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Ontario Appeal Court overturns decision that would have widened scope for taping defence medical examinations

April 23, 2010 by Canadian Underwriter

In a 3-2 decision, the Ontario Court of Appeal has reversed a lower court ruling that would have allowed taping of defence medical examinations in most (if not all) cases where a request is made, based on an alleged “systemic

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RIBO warns of alleged auto insurance scam

April 23, 2010 by Canadian Underwriter

The Registered Insurance Brokers of Ontario (RIBO) is warning of an alleged automobile insurance scam.A newspaper ad advertising auto insurance with a 1-800 contact number has been placed in several Ontario city newspapers, a RIBO release says. Typically, the perpetrators

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Ontario court re-asserts limits on how much plaintiff’s counsel can help client during discovery

April 21, 2010 by Canadian Underwriter

The Ontario Superior Court recently re-asserted the limits of how much a plaintiff’s counsel can help his or her client during an examination for discovery in an action concerning a motor vehicle accident.In Michael Madonis v. Julian G. Dezotti and

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Tax and regulatory burden costs insurance industry more than 11% of revenue

April 21, 2010 by Canadian Underwriter

Slightly more than 11% of the $38.4 billion of the insurance industry’s 2008 revenues went towards regulatory and tax costs, according to a PricewaterhouseCooper’s (PwC) report.Insurance Bureau of Canada commissioned PwC to study, for the first time, both the tax

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Vehicle owners who cannot drive for medical reasons still qualify for a discount: SGI

April 20, 2010 by Canadian Underwriter

Vehicle owners who are unable to drive due to medical reasons should apply for a non-driver medical discount, SGI urges. The corporation provides a 20% discount to those who are of driving age and own vehicles, but do not meet

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Ontario auto insurers approved for rate increases averaging 5.61% in 2010 Q1

April 19, 2010 by Canadian Underwriter

Ontario auto insurance rates continued their upward climb in 2010 Q1, with the province’s auto insurers getting approved rate increases averaging 5.61% when weighted by market share.“The rate changes approved in 2004, 2005, 2006, 2007, 2008 and 2009 were -10.60%,

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Ontario Court of Appeal finds trial judge did not ‘double deduct’ IRBs from jury award

April 19, 2010 by Canadian Underwriter

As long as a trial judge has not directed a jury to deduct income replacement benefits (IRBs) from their jury award, the trial judge may deduct IRBs from the jury award without fear of “double deduction,” the Ontario’s Court of

News InsuranceMergers and Aqcuisitions

The Co-operators reports $74-million profit in 2009

April 16, 2010 by Canadian Underwriter

The Co-operators General Insurance Company reported a net income of $74 million in 2009, marking an increase from 2008’s net income of $53 million.The insurer’s combined ratio improved in 2009 to 103.1% from 106.4% in 2008.Gross written premium increased from