What’s New: In Brief (April 27, 2007)

Loyalist Insurance Group reported revenue of Cdn$2.1 million in 2006, an increase from Cdn$2 million for the year ended Dec. 31, 2005. The company also reported a smaller operating loss of Cdn$50,399 in 2006, compared to the Cdn$266,040 loss it reported in 2005. In July 2006, the company sold a portion of its book of business to a past employee for roughly $174,000, resulting in a gain of sale of the same amount. Further to that, the company renewed two major brokerage accounts and has used proceeds from asset sales and investments to improve liquidity and reduce debt requirements.

Think all of the other drivers on the road are responsible for distracting you while you are behind the wheel? Not according to Brendan Calvert, the winner of the Insurance Bureau of Canadas (IBC) What are You Doing Behind the Wheel? contest. Recently the IBC put out a call for consumers to submit a video pointing out all the driver distractions that often lead to more accidents on the road. The winning video has been posted on YouTube at the following link:(http://www.youtube.com/watch?v=o9CTHltJOj0) The contest is part of an IBC campaign geared towards increasing awareness of driver distractions. It is anticipated that by posting the video on YouTube, the commentary will reach a broad audience of young drivers. For his part in helping to reduce accidents, Calvert has won a home entertainment system and bragging rights.