Insurance

Montréal – The Autorité des marchés financiers (AMF) is launching a penal proceeding in the Court of Québec (Criminal and Penal Division) in the district of Montréal against Kingsway General Insurance Company.

As a licensed insurer, the company faces 12 charges for failing to provide the Groupement des assureurs automobiles, as requested and in the prescribed form, the statistical data and information referred to in section 177 of the Automobile Insurance Act concerning the insurer's automobile insurance experience for each month from July 2006 to June 2007.

Because of the numerous notices sent to Kingsway and its continuing failure to comply, the AMF is seeking a fine that exceeds the minimum penalty stipulated by law for these offences, namely, $84,000 instead of $8,400.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

— 30 —

Information:

Media only:
Frédéric Alberro (514) 940-2176

Information Centre: (877) 525-0337

Additional news