Topic
Mergers and Aqcuisitions
Ontario auto battle heats up over public/private study
September 5, 2003 by Canadian UnderwriterAs Ontario heads into an early October election, auto insurance stands to be a key issue on the campaign trail. An early volley was thrown with the release of a study by The Fraser Institute, a conservative public policy organization…
Federation withdraws from Newfoundland on auto insurance proposals
September 4, 2003 by Canadian UnderwriterProposals by the Newfoundland government to change that province’s auto insurance system are the cause of Federation Insurance Co. of Canada’s decision to stop writing personal lines in that province, the company says.In a media release, the company says it…
Eves’ government announces additional auto insurance reforms
September 2, 2003 by Canadian UnderwriterAs expected, the Ontario government has formally proposed additional changes to the auto insurance system on the heels of implementation of Bill-198.Premier Ernie Eves today announced the program which includes a reduction in the premium tax from 3% to 2%,…
Insurers applauding Ontario auto reforms
September 2, 2003 by Canadian UnderwriterAdditional auto insurance reforms, coming on the heels of those contained in Bill-198, are being welcomed with open arms by Ontario insurers.The reforms include several measures insurers have long been pushing for in the province, including a reduction in the…
Black Summer…
September 1, 2003 Sean van Zyl, EditorThose in the industry who had been looking forward to an easy-going summer would have been jolted by the series of adverse events that seemed to cascade one after the other in the final stages of the season. Basically, short…
Insurers’ Combined Ratio Drops as Profits Rise For 2-Q
September 1, 2003 by Canadian UnderwriterInsurers managed to bring their combined ratio to below the key 100% mark for the second quarter of this year as coverage price hikes implemented by companies over the last two years finally began to outstrip the growth in claims…
Government Auto Insurance in Atlantic Canada: ‘Fool’s Gold?”
September 1, 2003 Dennis ProuseWith the possibility of government run auto insurance systems being touted about by the governments of the Atlantic Canada provinces, for insurers operating in the region as well as the insured public, this current uncertain time is a period of trepidation. A decision driven by politics rather than practicality and the age old wisdom of competition could well result in the region’s drivers and taxpayers paying a hefty price over the long-run.
Shining Light on the “Auto Claims Economy”
September 1, 2003 Vikki SpencerWith auto insurance losses over the past two years having left many insurers in the “dark” in terms of how to deal with the costing of the product, there was a certain irony behind a recently held conference which focused on relationships between the various vendors and manufacturers involved in the auto claims chain – for in the midst of the event, the “blackout of 2003” struck. However, despite the adversity of the power outage, the conference’s participants were upbeat regarding a “new light” of cooperation between the various players toward achieving cost efficiency.
Letters to the Editor (September 01, 2003)
September 1, 2003 by Canadian UnderwriterDear Editor, Don Callahan is likely correct in his statement that “I cautiously (my emphasis) add that Canadian licensed reinsurers, regardless of the precarious position of their parents, will have sufficient capital to support run-offs view of strong scrutiny in…
Ontario Auto Package Offers Tax Cut
September 1, 2003 by Canadian UnderwriterThe Ontario government has formally proposed additional changes to the auto insurance system on the heels of implementation of Bill-198. The program includes a reduction in the premium tax from 3% to 2%, which the government says should save policyholders…
Newfoundland Auto Reform Includes Rate Freeze
September 1, 2003 by Canadian UnderwriterFeatured among reform changes to Newfoundland’s auto insurance system is optional coverage for minor pain and suffering, as well as a rate freeze imposed on insurers. This follows on the heels of the other Atlantic provinces in introducing changes to…
On The Move (September 01, 2003)
September 1, 2003 by Canadian UnderwriterRoyal & SunAlliance Canada confirms the retirement of president and CEO Larry Simmons. Simmons took over the top spot in 2001, having previously served as COO. He will continue to head up the company until a replacement is named. The…