Industry
New guidelines offered up by the DRC Trade Show Services for insurers, adjusters and contractors are being released via a national roadshow. DRC struck a committee of indoor environmental professionals, building science engineers and restoration contractors to address what was seen as a void in mold handling practices the need for more standardized documentation, explains […]
By Canadian Underwriter | August 11, 2004
2 min read
Alberta-based broker network and bank Western Financial Group (TSX: WES) saw its earnings rise 104.4% in the first half of 2004, up to $2.0 million from $957,000 in the first six months of 2003. Earnings per share were up to $0.09 from $0.05, an 80% increase, over the same comparative period.Revenue for the first half […]
1 min read
Those handling complaints for insurers under the new Financial Serves OmbudsNetwork system have on online tool now available to them. The package deals with a number of topics including listening to consumers, developing company practices, use of historical complaint data. It also includes a resource library of sources for complaint handling information and standards.The Centre […]
By Canadian Underwriter | August 10, 2004
The Ontario Liberal government has released a discussion paper outlining its plans for a new auto insurance system which would include “customized coverages” for accident benefits (AB).The Ministry of Finance has posted the discussion paper on its website and is asking for feedback by September 10 on the proposal. The basic plan would see policyholders […]
By Canadian Underwriter | August 9, 2004
The Canadian Council of Motor Transport Administrators (CCMTA) has released its guidelines for salvage air bags, according to a press release from John Norris of the Hamilton District Autobody Repair Association (HARA).The release notes that some public insurers in Western Canada have been using the air bags, which while salvage, have never been deployed, and […]
Mississauga-based Kingsway Financial Services (NYSE, TSX: KFS) saw net income rise for the second quarter ending June 30, 2004 by 22% to $33.3 million, compared to $27.3 million for the same period a year earlier. This translates to earnings per share of $0.59, up 7% from a year earlier, with 14% more shares outstanding.Investment income […]
By Canadian Underwriter | August 8, 2004
The first release of the MSA Benchmark Report on Canadian p&c insurers highlights the struggles being experienced by auto writers compared to commercial insurance carriers.The report’s author, MSA Research Inc.president Joel Baker, says that despite a return on equity of 9.2% for auto writer, when B.C.’s government insurer is excluded, this drops significantly to 7.2% […]
The Insurance Bureau of Canada (IBC) says Newfoundland’s Bill-30 is a “short-term fix” that does little to relieve the pressure on auto insurers and their customers in the province.Bill-30 was signed into law earlier this week, despite opposition from insurers who say the bill does nothing to reduce the claims burden at the same time […]
By Canadian Underwriter | August 5, 2004
Several states have agreed to scrap a joint credit scoring study they had been pursuing in favor of an agreement with insurers who will provide data to the federal study on the same issue.Thirteen states led by Missouri had originally taken up their own study, despite one already in the works by the Federal Trade […]
By Canadian Underwriter | August 4, 2004
Despite notice from several insurers that they would withdraw from the province of Newfoundland’s auto insurance market due to the passage of Bill-30, the auto reform measures have been proclaimed.The bill was proclaimed on August 1, although this was not announced until August 2. The reforms will see rates frozen for another year, and government […]
By Canadian Underwriter | August 3, 2004
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