Industry
In the wake of the retirement of Dina Palozzi, former CEO and superintendent of the Financial Services Commission of Ontario (FSCO), Phil Howell will fill the position on an interim basis. The announcement brought praise from the Insurance Bureau of Canada (IBC), which had asked that the appointment be made from within the province’s Finance […]
By Canadian Underwriter | July 17, 2001
1 min read
Insurers acting through the industry’s national lobby body, the Insurance Bureau of Canada (IBC), are currently engaged in high-level meetings with provincial government officials in Atlantic Canada with a view to introducing rapid reform to the basic auto insurance product.The need to take corrective action in lieu of the significant rise in auto claim costs […]
By Canadian Underwriter | July 16, 2001
2 min read
The Registered Insurance Brokers of Ontario (RIBO) has called on the Ontario government’s Ministry of Finance for recognition of the unique differences that exist between property and casualty insurance products and their distribution modes compared with the life, deposit-taking and securities sectors operating in the province.In a letter addressed to John O’Toole, the parliamentary assistant […]
By Canadian Underwriter | July 13, 2001
Hi-Alta Capital’s broker network, the Western Insurance Network (WIN), has grown its presence in Saskatchewan with the acquisition of two brokerages. Assiniboia Agencies and its sister office, Willow Bunch Agencies have been added to the WIN roster.The firms serve a large agricultural area in the southern part of Saskatchewan, states a Hi-Alta press release. Assiniboia […]
By Canadian Underwriter | July 9, 2001
Crawford Adjusters Canada has been appointed to administer the class action settlement arising from the use of diet drug Pondimin, the company has announced in a press release. An Ontario Superior Court Justice has approved the appointment, and the process of finalizing the claims administration will begin this week.”While there were 19,000 prescriptions issued in […]
Earlier in the week, the Alberta government warned consumers about purchasing insurance from unlicensed insurers. According to an Insurance Bureau of Canada (IBC) news release issued about the warnings, injunctions have been obtained against Combined Services Ltd., Citadel General Surety Ltd., Vanguard Marine and General Ltd., and Tri-Continental Exchange Ltd., ordering them to stop carrying […]
By Canadian Underwriter | July 6, 2001
Boomerang Tracking Inc. (TSE: BMG) notes that during the past 12 months, through agreements with 32 insurance companies in Quebec and 14 in Ontario, the company’s vehicle tracking device has led to the recovery of over 1,000 vehicles valued at more than $50 million. In announcing its year-end financial results, the company also says that […]
By Canadian Underwriter | July 5, 2001
Kingsway Financial Services (TSE: KFS) has filed an amended rights offering prospectus with the Canadian securities regulator that now offers five million of the company’s common shares through the recently announced public offering. An additional 750,000 common shares have been allocated for over-allotments. The underwriting managers for the public offering now comprise CIBC World Markets […]
By Canadian Underwriter | July 4, 2001
Calgary-based brokerage group Anthony Clark International Insurance Brokers Ltd. (TSE: ACL) is looking to implement a shareholders’ rights plan that would enable the company to block hostile takeover bids. ACL shareholders will be asked to approve the rights plan at the upcoming annual general meeting. The Toronto Stock Exchange has conditionally accepted the rights plan, […]
The Insurance Brokers Association of Canada (IBAC) today called on all broker-supporting insurers to support the industry’s attempt to develop a business-to-business, real-time Internet portal through the Centre for the Study of Insurance Operations (CSIO). The first development phase of the CSIO’s portal, which will allow brokers to secure online comparative price quoting on personal […]
By Canadian Underwriter | July 3, 2001
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