Finance committee  Yes. I know that in our experience as a mutual company, we are a company that will consider business that stock companies do not or that other insurers do not. In your case, you may be a very favourable risk. Oftentimes stock companies, big companies, like to cherry-pick risk. So

Finance committee  I'm somewhat familiar with the situation, yes.

Finance committee  It is our understanding that Economical Mutual wishes to demutualize. They currently have, as I said, 800,000 policyholders; however, less than 1,000 of them claim to be mutual policyholders. In the mutual, the members are the owners of the company. I talked about the property

Finance committee  I think that's the original intent. I don't know what their intent is now. Of course, their intent will be guided by the laws and regulations that are put in place by government.

Finance committee  The proposed legislation is opening the door to creation of regulations, so the regulations will further define what those rules look like. One of the provisions in the bill that's under consideration deals with the minister's ability to defer questions, and perhaps ownership q

Finance committee  The court may take a strict property rights interpretation, whereas when you look at the creation and formation of Economical Mutual, or any mutual for that matter, what was the intent of that surplus? What was the intent of the ownership? How did the ownership structure wind up

Finance committee  I know that the availability of insurance affects the availability of credit to buy properties and to improve properties, farms, businesses, and whatnot. If the mutuals aren't there to provide the services that they currently provide....

Finance committee  That's a significant risk.

Finance committee  Yes.

Finance committee  That's right. Decisions will be made on a different street. They won't be made on Main Street in Summerside. They'll be made on Bay Street, perhaps. Decisions are made differently on that basis. I know from our own experience pricing is a big factor, especially in the rural area

Finance committee  Thank you, Mr. Chairman. I for one will not be complaining about the heat, after the winter we've had in Prince Edward Island.

Finance committee  My name is Blair Campbell. I'm the general counsel and corporate secretary for Prince Edward Island Mutual Insurance Company. I come to you in this capacity, but I also sit on the executive committee of the Canadian Association of Mutual Insurance Companies. I'm here today to ad

Finance committee  It's valid for government to say no to the circle of self-interest and refuse to create enabling laws. It is preferred that no enabling rules be established, but if there are to be enabling rules, it is vital to get them right. These decisions should receive the highest level of