Industry
Kingsway Financial Services Inc. (TSX:KFS) has announced that its founder, William G. [Bill] Star, is retiring from his position as Kingsway’s president and CEO, effective Dec. 31, 2007. Shaun Jackson, currently executive vice president and chief financial officer, has been selected as Star’s successor. Star will remain as chair of the board.”It is, of course, […]
By Canadian Underwriter | December 17, 2007
1 min read
The Risk and Insurance Management Society (RIMS) has donated US$300,000 to the Spencer Educational Foundation. The foundation provides scholarships and grants for promising graduate and doctoral risk management students. The donation represents one of the largest contributions made to the foundation since its 1979 inception, a RIMS release says.The money will go towards expanding some […]
In an insurer’s investigation of an accident benefit claim, the non-cooperation of an insured accident victim doesn’t necessarily determine whether or not an insurer had sufficient time to serve notice on other insurers to dispute benefit payment obligations.The Ontario Superior Court issued the ruling recently in Liberty Mutual Insurance Company v. Zurich Insurance Company.In Liberty, […]
2 min read
Ontario’s Ministry of Revenue has informed the Insurance Brokers Association of Ontario (IBAO) that all-terrain (ATV) owners might be eligible for a tax refund based on the classification under which they may have insured their vehicles. Prompted by an IBAO request, the ministry’s recent ruling resolves an issue about the amount of taxes ATV owners […]
Temple Insurance Company has affirmed the company’s financial strength rating of A. The outlook for the company’s financial strength rating has been revised to positive. According to A.M. Best Co. the ratings and outlook reflect its “view that Temple maintains excellent capitalization, has delivered a consistently favorable operating performance and benefits from its strategic affiliation […]
By Canadian Underwriter | December 14, 2007
Two men struggling for control of a rented vehicle made it difficult to assess vicarious liability in a case involving the interpretation of an Insurance Act exclusion, and a motions judge erred in deciding the factual issues by means of a summary judgment, the Ontario Court of Appeal has ruled.In Henwood v. Coburn, George Fitzgerald […]
The Loyalist Insurance Group Limited has sold its retail insurance brokerage asset to Brownstone Holdings Inc.The estimated proceeds to Loyalist will be approximately Cdn$5 million in cash, according to a Loyalist release. This transaction is expected to close in January 2008 and is subject to final regulatory and shareholder approval. The proceeds will be used […]
By Canadian Underwriter | December 13, 2007
An Ontario Superior Court judge has ordered an insurer to defend a pizza company on allegations that the company’s “30-minutes-or-it’s-free” delivery policy caused driver negligence leading to a collision.Pizza Pizza Limited faces court allegations of negligence in relation to its speedy delivery policy, which promises delivery in up to 30 minutes or else the driver […]
A kanetix.ca study suggests that the soft market in auto insurance is hardening, and that consumers may soon get hit with higher auto insurance premiums, according to a company release. Rates quoted for auto insurance over the past year have increased on average 1.5%, according to kanetix’s quarterly auto insurance premium study results.Kanetix compared the […]
By Canadian Underwriter | December 12, 2007
The federal government should streamline the operations and priorities of Export Development Canada (EDC) by narrowing EDC’s activities to improve competition in the export insurance business, according to a recent report by C.D. Howe Institute.C.D. Howe also advocated the privatization of EDC’s short-term insurance portfolio. However, government may continue to play a role in long-term […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
