Monday, July 21, 2014

No. 59: The Proposed Demutualization of Canada's Economical Mutual Insurance Company

Alastair ("Al") Rickard is a former Canadian insurance executive and the founding editor of The Canadian Journal of Life Insurance. Although his Journal is no longer published, he is a blogger ( Through his blog I learned two years ago about the shocking terms of the proposed demutualization of Economical Mutual Insurance Company (Waterloo, Ontario), a large, federally regulated mutual property and casualty insurance company. I invited Rickard to write an article on the subject. He did so, and the article appeared under his byline in the October 2012 issue of The Insurance Forum.

Rickard has posted on his blog several articles about the Economical Mutual proposal, which remains pending. Rickard's most recent post on the subject is his No. 268 dated July 15. I decided to interrupt my summer break to call this latest post to your attention. I urge you to read not only his No. 268, but also at least some of his earlier posts on the subject (his Nos. 208, 209, and those mentioned in the second paragraph of his No. 268). To go to Rickard's post No. 268, click here.