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September 09, 2004

Insurers reject actuarial report on insurance in Newfoundland

The Study of Homeowner, Commercial Property, Liability and Marine Insurance, commissioned by the Government of Newfoundland and Labrador, is based on erroneous assumptions and reaches incorrect conclusions, Insurance Bureau of Canada said today.

If the government takes action based on this report, it would be the second time in recent months that consumers were ill-served because of the actuarial advice provided to the government.

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Posted by Tom Troceen