Auto

Quebec to see increases in auto insurance premiums

The government of Quebec will not approve any major hikes in public auto insurance premiums, like those recently proposed by the Socit de l’assurance automobile du Qubec (SAAQ), according to the province’s junior Transport Minister Julie Boulet. The SAAQ recommended a rate increase of up to 300% for auto insurance in order to compensate for […]

By Canadian Underwriter | June 22, 2005

1 min read

Former insurance broker fined for fraud

Toronto Police – 54 Division – recently arrested a former insurance broker for fraud investigations.Panayiotis (Peter) Bariamis, 57, of Toronto, is charged withfraud over $5,000, forgery and 16 counts of uttering forged documents.The police alleged that approximately 400 people were sold auto and/or home insurance policies underwritten by a non-existent insurance company called York Commonwealth […]

By Canadian Underwriter | June 16, 2005

1 min read

Canadian insurer fined $20,000

The Traders General Insurance Co. has recently been charged with a penalty of $20,000 for failing to apply October’s 5% auto insurance premium rebate and reduction to two consumer programs. As of May 2005, the Company had still not issued rebates due Jan. 31 nor applied the 5% premium reductions required after Oct. 1, 2004.The […]

By Canadian Underwriter | June 3, 2005

1 min read

Experts say oil production is set to decline

Experts in the petroleum and oil sector predict the world’s oil production will peak and begin to decline as early as this year, according to the Associated Press (AP). Princeton University geologist Kenneth S. Deffeyes told AP that he anticipates “a permanent state of oil shortage.”Repercussions will include a dramatic price increase of oil products […]

By Canadian Underwriter | May 30, 2005

1 min read