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Home > Property Insurance Coverage > Home Owners Insurance > Canadian Millers' Mutual Insurance Company
Canadian Millers' Mutual Insurance Company
Canadian Millers Mutual Insurance Company was licensed in Ontario as a cash mutual insurance corporation and wrote general liability policies, specialized as a niche writer for commercial property and liability coverages of milling and agricultural operations.
Policyholders of Canadian Millers' Mutual Insurance Company were notified by mail that the company would be wound up under the provisions of the Winding up and Restructuring Act ordered by the Ontario Superior Court of Justice and KPMG Inc. would be appointed Liquidator.
Canadian millers mutual insurance company Canadian millers collapses, the industry funded, non profit Property and Casualty Insurance Compensation Corporation will respond to claims of policyholders under most policies. You don’t need to apply for protection; it is extended automatically to eligible policies.
The Ontario Superior Court of Justice has ordered Canadian Millers to be wound-up effective December 11, 2001. Canadian Millers had been writing mainly commercial property business with some commercial liability and habitational business. There are about 3200 policyholders and about 160 outstanding claims. Canadian Millers was licensed for automobile, boiler and machinery, credit, fidelity, hail, liability and property insurance. PACICC’s coverage does not extend to credit, fidelity or crop insurance.
The superintendent of financial services of Ontario issued an interim order taking possession and control of the assets of Canadian millers and retained kpmg inc. to manage Canadian miller’s assets. The Ontario superior court of justice, on the application of the superintendent, granted an order appointing kpmg inc. as liquidator of the estate, assets, undertakings and effects of Canadian Millers. By further order of the same date, the court ordered that Canadian millers be wound up pursuant to the winding up and restructuring act and that the winding up be deemed to commence.
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