Industry
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
1 min read
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
2 min read
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
Broker consolidator Hub International Ltd. (TSE: HGB) says the previously announced acquisition of U.S.-based brokerage Kaye Group Inc. has been finalized. Kaye shareholders will receive US$14 a share in cash under the terms of the deal.As part of the transaction, Hub issued US$35 million in subordinate convertible debentures to its parent company, Fairfax Financial Holdings […]
Manitoba’s crown corporation insurer, Manitoba Public Insurance (MPI), has applied to the province’s Public Utilities Board for an overall premium reduction of 1.2%. This will be the fourth consecutive year of rate reductions for the province’s drivers, the crown insurer says. The proposed premium reduction for 2002 would result in an average annual premium of […]
June 30, 2001
Dear Editor, Many years ago I wrote a letter to the editor asking “where is the voice of surety in Canada, I cannot hear it?”. Not too long thereafter The Surety Association of Canada was formed primarily by the bonding companies in Canada but with associate memberships to include all practitioners of the surety industry. […]
4 min read
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