Industry
Kingsway Financial Services Inc. announced it has reached an agreement to acquire Mendota Insurance Company, a wholly owned subsidiary of the St. Paul Travelers Companies Inc.The transaction includes Mendota’s wholly owned subsidiaries, Mendakota Insurance Company and Mendota Insurance Agency Inc. The acquisition will spike Kingsway’s participation in the non-standard automobile market south of the border, […]
By Canadian Underwriter | January 24, 2007
1 min read
Approved Ontario auto insurance rates for 2006 Q4 increased ever so slightly, FSCO reported in a posting on its Web site.”Based on the entire market, the average rate change for the fourth quarter of 2006 was +0.05%,” FSCO noted in its posting.Ontario auto rate changes have steadily declined between 2004-06, although the pace of the […]
By Canadian Underwriter | January 19, 2007
The Financial Services Commission of Ontario (FSCO) has posted a warning on its Web site about a scam associated with Capital Financial Trust. “During an investigation recently conducted by FSCO, it was found that Capital Financial Trust and its related entities may have been involved in perpetrating a scam similar to what is commonly known […]
2 min read
ICBC and its employees raised Cdn$745,110 for the United Way of the Lower Mainland, according to a recent press release.”More than 33% of ICBC employees stepped up and signed up for this year’s campaign,” said ICBC’s just-retired chief operating officer Bill Goble, the 2006 executive sponsor and leadership chair.”The strength of ICBC’s campaign comes from […]
Stewart-Greenslade Insurance Brokers Ltd. has purchased N.D. Tyler Ltd. of Portage La Prairie, Manitoba, according to an online report in The Daily Graphic.”We’re very excited,” Brent Gilbert, president of Stewart-Greenslade, told Shannon VanRaes of the Portage La Prairie newspaper. “N.D. Tyler’s book of business was a really good fit with Stewart-Greenslade. “Both of our firms […]
By Canadian Underwriter | January 18, 2007
The Vancouver Police Department (VPD) uncovered a massive fraud ring that involved forged ICBC documents, fake driver’s licenses and counterfeit credit cards.Financial crime investigators discovered a counterfeit credit card factory when they executed a search warrant in an upscale Coquitlam home, says a VPD news release. Inside the home officers seized 1,400 counterfeit credit cards, […]
By Canadian Underwriter | January 17, 2007
ING Canada has announced a major shuffle of its senior executive staff, with Charles Brindamour assuming the newly created role of COO, Derek Iles accepting the title of president of ING Insurance, and the retirement of two executive staff members Don Lough and Jacques Valotaire. Brindamour, in his new role, will be responsible for all […]
By Canadian Underwriter | January 16, 2007
Dee Caffari, the first woman to circumnavigate the world against the prevailing winds and currents, solo, non-stop, will be a keynote speaker at the Toronto International Boat Show. Presented by Robertson & Robertson Yacht Insurance Skippers’ Plan and Aviva Canada, Caffari will speak on Saturday, January 20 at 12:00 p.m. and 4:00 p.m.”Dee Caffari is […]
By Canadian Underwriter | January 15, 2007
The Insurance Bureau of Canada [IBC] has launched a Cdn$4-million public education campaign reminding drivers to keep their eyes on the road and avoid distractions such as cell phone use, text messaging, eating, personal grooming, queuing up CDs, keeping kids quiet in the backseat and even changing clothes while they drive.”Driving is a full-time job,” […]
By Canadian Underwriter | January 11, 2007
Manitoba Public Insurance has reported stable financial results as it enters the final quarter of fiscal 2006, which, according to records can include the highest incidence of claims, according to a press release.Manitoba Public Insurance reported net income from operations of $59.1 for the nine months ended on November 30, 2006. This is a decrease […]
By Canadian Underwriter | January 10, 2007
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