Industry
Canada’s new federal financial services legislation under Bill C-8 entered the final stage of debate by the Senate following approval last week by the finance committee of the Senate. It is expected that the new legislation will be enacted by June 15 of this year before parliament breaks for the summer.The financial services legislation in […]
By Canadian Underwriter | June 11, 2001
1 min read
Risk
Specialty risk insurer Kingsway Financial Services Inc. (TSE: KFS) has entered into an "alliance" with Texas-based auto insurer Reliant American Group Inc. "We see a lot of potential for the distribution of Reliant American’s commercial auto, garage liability and general liability products through our licensing and underwriting capabilities, with Reliant American assuming some of the […]
A Canadian class action lawsuit has been filed against auto manufacturer Ford and tire manufacturer Firestone for use of defective and unsafe products on Ford Explorer models. The action was initiated by Michelle Rambharos of Brampton following a vehicle accident involving her Ford 1995 Explorer which allegedly "flipped" after one of the tires burst, resulting […]
By Canadian Underwriter | June 10, 2001
2 min read
With the formal swearing in of B.C.’s Liberal government cabinet, a new finance minister takes the helm, and assumes responsibility for the province’s public insurance program. Gary Collins has been given the task of overseeing the Insurance Corporation of British Columbia as port of his overall finance ministry portfolio. In the past, ICBC has fallen […]
By Canadian Underwriter | June 8, 2001
Zurich Canada and Manulife Financial are teaming up to cross-sell insurance products to small business owners. The national alliance will see Zurich’s brokers refer clients to Manulife for group life and health insurance, with Manulife returning the favor with potential property and casualty insurance buyers. The partnership is a result of the sale of Zurich’s […]
Chubb Insurance Co. of Canada has launched a broker-supporting website focused on personal lines. Following a successful trial run of the site in December 2000, the company says the service will go live in Ontario now, while brokers in other province’s will gain access by the end of the summer this year.Typical broker features of […]
An Ontario-based insurance brokerage, Phoenix-Eastern Insurance Brokers Inc., has launched an online range of insurance covers aimed at non-profit associations and charities. Accessible through the Internet, the new service known as CAIP Comprehensive Associations Insurance Program will provide instant quotes on covers. The brokerage claims that the savings available to insureds through CAIP could be […]
Manitoba’s drivers could be paying even lower rates in the coming year if the public insurer there has its way. Manitoba Public Insurance (MPI) has applied to the Public Utilities Board for an overall premium reduction of 1.2%, the fourth consecutive year of rate reductions in that province, according to an MPI press release.The reduction, […]
By Canadian Underwriter | June 7, 2001
Auto
Quebec’s Transport Minister Guy Chevrette says auto manufacturers are creating a highway hazard by building more powerful engines in cars. At a news conference, Chevrette says that the federal government should step in to limit the power of car engines given that the maximum speed limit on Canadian highways is 100 kilometers per hour.”We’re putting […]
As controversy over aftermarket parts use continues to swirl in the wake of the State Farm verdict, insurers, auto manufacturers, and those in the collision repair industry are looking at how to make driving safer and reduce accident costs. With auto insurers facing dismal results across the country, and in Ontario in particular, the need to tackle these costs is clear. But the role aftermarket parts, recycled parts, theft deterrents, and vehicle design will play in this attempt to bring profitability back to the auto insurance market was very much up for discussion at the recent Auto Insurers and Manufacturers (AIM) forum held in Mississauga.
May 31, 2001
5 min read
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