Industry
Insurers should count on an average of roughly eight weeks lead time to prepare for enrolment in Ontarios new Health Claims for Auto Insurance [HCAI] system, an electronic method for collecting and transmitting auto insurance health claims data. All 180 insurers currently licensed to sell auto insurance in the province will be required by law […]
By Canadian Underwriter | April 2, 2007
2 min read
Kingsway Financial Services Inc. (TSX:KFS, NYSE: KFS) announced the completion of the acquisition of Mendota Insurance Company, a wholly owned subsidiary of The Travelers Company, Inc.. The transaction includes Mendotas wholly owned subsidiaries, Mendakota Insurance Company and Mendota Insurance Agency, Inc.. The purchase price has been funded through a combination of internal sources and Kingsways […]
1 min read
Broker multiples are currently at an all-time high, but given the way the market is going, you can expect to see them drop in the future
By Peter Morris, Vice President, AMAC Consultants Inc. | March 31, 2007
7 min read
Brokers may find themselves arguing against bank and cross-pillar mergers in the future, so the time for political action is now
By Larry Kozakevich, President, Insurance Brokers Association of Canada | March 31, 2007
3 min read
CRA isn't double-dipping when it charges GST to IME providers that don't use their own premises
By Larry Silverberg, C.A. | March 31, 2007
The insurer must not treat the insured as an adversary whose interests may be disregarded, and this implies a reasonable and competent investigation of the claim.
By Vanessa Mariga | March 31, 2007
6 min read
It’s official: The 2005-07 Bank Act review has finally been laid to rest. The Insurance Brokers Association of Canada (IBAC) on Apr. 2 applauded the Parliament of Canada for passing Bill C-37 in late March. As passed, the bill does not give banks the power to retail or provide information about insurance products and services […]
March 31, 2007
The Financial Services Commission of Ontario (FSCO) has released its Health Claims for Auto Insurance (HCAI) Rollout Guideline, which includes, among other things, a Central Processing Agency (CPA) – an agency designated to receive accident benefit claims forms on behalf of insurers. “The HCAI Rollout Guideline currently applies only to participating insurers and health care […]
Proposed National Instrument 31-103 – which outlines registration requirements for hedge fund participants – may significantly increase insurance costs for firms participating in hedge funds, according to a paper authored by Ronald Kosonic of Borden Ladner Gervais. Posted on Borden Ladner’s Web site, Kosonic’s paper says minimum insurance requirements for firms with significant hedge fund […]
Integro (Canada) Ltd. held a cocktail reception at its Toronto office on Feb. 28, 2007. A number of industry movers and shakers attended the reception, including Integro’s principal founders and senior management: Front row (left to right): Bob Clements, John Chippindale, Robert Egan. Back Row (left to right): Walter Tomenson, Bob Dunn, Peter Garvey, and […]
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