The Basics of Canadian Car Insurance

Owners of motor vehicles driving on the public roads of Canada are required to insure their automobiles. The auto insurance laws vary depending on the territory or providence in which one lives. Here is basic information concerning the car insurance required by the various governments within Canada. When you purchase automobile insurance in Canada you should receive a Canadian Inter-Province Motor Vehicle Liability Insurance Card. This insurance card is also referred to as your insurance “pink card.” If you have recently moved to Canada from the United States this card is comparable to the insurance card your American car insurance company would have previously given you while insured in the U.S.
The Pink Card should be honored as proof of your vehicle having car insurance anywhere within Canada. This card is thus a very important document that you should keep with you and supply to a police officer if requested. It is recommended to not leave your insurance card in your vehicle, just incase the vehicle is ever stolen.
In British Columbia, Saskatchewan and Manitoba you cannot obtain your vehicle registration until you provide proof of the necessary mandatory basic insurance being purchased. Again in Manitoba, Saskatchewan and British Columbia, the government insurer provides the basic or required minimum car insurance policy. Both government insurers and private insurers can sell enhancements thus add extra coverages to your basic policy.
In Quebec, injury claims are covered by a government program. In Quebec, vehicle and property damage claims, as well as bodily injuries due to a collision outside of Quebec, are covered by private insurers. According to the Canadian government, the provinces and territories that are attended to by private insurance companies all must have standard terms and conditions listed within the insurance policy. Each territorial or provincial government though sets its own standards and minimum limits for the amount of liability coverage that motorists must buy.
Though provinces and territories legislate auto insurance polices and coverages there should be numerous choices of limits (above the mandatory amount), deductibles and other optional coverages available. So, as in many other nations, motor vehicle insurance coverage can vary between insured individuals. When in need of using your car insurance you will need to know what coverages you purchased and have on your policy.
In provinces where government insurers must provide the basic mandatory coverages insured usually do not receive a printed policy. Instead the vehicle registration itself stands as proof of insurance coverage. If additional, optional coverages were purchases as part of a policy bought by a non-government insurance carrier an extension policy should be issued. Documents outlining the coverages should also be received by the individual purchasing insurance.
Lawsuits for economic losses, exceeding the no-fault accident benefits of your insurance policy, are permitted everywhere except Manitoba and Quebec. In Ontario, your ability to sue for loss of income is subject to various conditions such as medical, rehabilitation and other related costs and only when the injury is termed to be very serious. In Saskatchewan, you may legally recover only with respect to the gross income losses that exceed a specified amount.
In Quebec, Saskatchewan and Manitoba laws do not permit you to sue for pain and suffering due to a motor vehicle accident. Ontario allows lawsuits for injured persons but only if they sustain permanent serious disfigurement, impairment of important physical, psychological or mental functions or if the person is killed. A court in Ontario would assess the damages and a deductible would apply.
The automobile insurance system in Quebec is different than other areas. It has two main components - bodily injury and damage to property. Bodily injury is covered by a public administered plan while property damage is covered by private insurance companies.In Quebec and Ontario your insurer compensates you for the loss of use of automobile and the share of the damage caused to your vehicle when another driver is legally at fault. You thus deal with your own insurer and not the other party’s insurance carrier. This is called direct compensation.
In Canada, accident benefits coverage is mandatory everywhere except Labrador and Newfoundland. Uninsured automobile vehicle protection is universal though. Accident benefits coverage compensates you and your passengers, regardless of fault, for injuries sustained in an automobile accident.
Car insurance in Canada has a few universal coverages but for the most part motor vehicle insurance coverage varies greatly from province to province or territory.The basics of insurance might stay the same but certain variables and laws change. For more information on the area of Canada in which you live, or plan to move to, you can contact the Insurance Bureau of Canada.
This information was correct as of January 2006 according to the Insurance Bureau of Canada and Transport Canada websites used as references.

Home Office Insurance: Myths and Realities

Adequate insurance coverage is as vital to your home-based business as your computer or fax machine. Unfortunately, many home business owners neglect insurance -- either because they can't find the right coverage, it's too expensive, or they just don't know what's available. This can be a costly mistake, since a lack of insurance can permanently shut down your home business and even cripple your personal finances, should you be the victim of a lawsuit, fire, injury, or any other unforeseen calamity.

Karachi stocks remain depressed as 100-index loses 130.30 points

KARACHI: Bearish sentiments continued to dominate the Karachi stock market on Tuesday as the benchmark 100-share index closed negatively on account of fears of increase in discount rate, analysts said. The Karachi Stock Exchange (KSE) 100-share index shed 130.30 points to close at 10,448.19 points as compared with 10,578.49 points of the previous session. The KSE 30-share index lost 132.52 points and closed at 11,864.05 points. The increase in discount rate would affect leveraged sectors including fertilisers, cement, textile and automobiles Investors are concerned that the SBP would further tighten its monetary policy and increase interest rates by 50-150bps.Analysts said the KSE 100 index opened in the red zone with an initial decline of 222 points but at the end of the closing session it managed to reduce its losses ending eventually with a loss of 130 points. The market turnover increased 36.85 percent to 113.59 million shares as compared to 83.00 million shares traded in the previous session. However, the overall market capitalisation declined 1.15 percent to Rs 3.266 trillion as against previous session’s Rs 3.304 trillion. Out of 265 companies, 97 closed in positive zone, 152 in negative while 16 remained unchanged. Husnain Asghar Ali, Analyst at Aziz Fida Hussein and Company said attractive valuations of the cash rich stocks having least dependence on the economic growth, which disallowed a full stretch decline, and the day’s loss was restricted to 3 percent and the news that the ‘special purpose fund’ has started capitalising the opportunity inspired other market participants and post mid-day index staged a healthy recovery. The magic number to be announced by the SBP has certainly halted many. Over debated issue of ‘rise in interest rates’ could be harmful as it has given birth to yet another tool of speculation to those having an access to the privileged information. Ahsan Mehanti, Senior Analyst at Shahzad Chamdia Securities said reasons for negative index include expected increase in CRR & SLR requirement that is expected to affect banking sector earnings, political uncertainty, falling rupee value against the dollar, foreign divestment, declining international equity markets and high discount rates negatively affected investors’ confidence. NIB Bank was the volume leader in the share market with 11.27 million shares as it closed at Rs 9.80 after opening at Rs 10 losing 20 paisas. The futures’ market turnover went down to 16.43 million shares as compared to 12.14 million shares traded in the previous session. Fourteen of the companies closed in the positive zone, 24 in negative while one remained unchanged. staff report

KSE springs back to buoyancy

Karachi Stock Exchange (KSE) at the onset of the trading week today went buoyant and upbeat spurred by the news of Moody’s retaining Pakistan’s rating at B2, which saw the KSE-100 index soared by 262 points and wrapping up at 10172. Today’s trade, which already began upbeat, got further dynamic later with Moody’s improved rating of Pakistan’s economy, sending the major Index up by 300 points. Financial institutions and major brokers also joined in the melee of buying shares, which they found quite attractive at their earlier slump-hit low prices. But later at the closing, the investors preferring profit taking backtracked to selling that resulted in index failing to sustain the 10200 marks.Turnover today aggregated to 121.9 million shares. Volume leader NIB Bank shares rising by Rs0.09 closed at Rs9.12. Among other companies, D. G. Khan cement increased by 0.89 closed at Rs48.98, while OGDCL soared by Rs4.45 closed at Rs111.60

SECP and KSE agree on draft rules for bourses integration

KARACHI - Securities and Exchange Commission of Pakistan (SECP) and members of Karachi Stock Exchange’s Member’s committee on Demutualization reached to a consensus and agreed on a final draft of the “Stock Exchanges (Corporatisation, Demutualisation and Integration) Rules, 2008. They also decided to accelerate the process of demutualization to get the KSE corporatized and demutualized by Dec 31, 2008.It was decided in a meeting of SECP and KSE held on Wednesday to discuss the procedural matters of Demutualisation Rules 2008. The SECP team was led by its Chairman Razi-ur-Rehman Khan, whereas the KSE team included Adnan Afridi, Managing Director, Shehzad Chamdia, Chairman, Demutualization Committee and other members of the said Committee.Sources who attended the meeting said that procedural matters of the draft of demutualisation have been discussed in the meeting and hoped that it would take 10 to 12 days to receive the final approval of the draft from SECP.It may be noted here that the chairman of SECP Razi-ur-Rehman had told the media men and members of KSE would be demutualized in next three months, in this regard all three exchanges have been informed to submit their suggestions, he said this during the visit of Finance Minister Syed Naveed Qamar to the stock markets some days ago. While finance minister had said that demutualization draft was approved in finance bill and would be soon approved from the president.A press note issued by KSE on Thursday said that The draft “Stock Exchanges (Corporatisation, Demutualisation and Integration) Rules, 2008” forwarded by the SECP were discussed and the observations / comments submitted by the KSE were considered and agreed by the Commission. After the detailed deliberation, the SECP and KSE reached to a consensus and agreed on a final draft of the Rules. It was also agreed that the demutualization process be expedited in a way to get the KSE corporatized and demutualized by December 31, 2008.

LSE index loses 128 points

LAHORE, Aug 4 (APP): Lahore Stock market continued to face downward slide as LSE-25 index lost another 128 points on Monday to close at 3062.46 points as compared to 3190.50 points on Friday which was last working day.
The total turnover however witnessed the increasing trend to settle at 11.064 million shares as compared to the previous volume of 7.509 million shares, showing a difference of 3.554 million.
A total of 93 active scrips traded on Monday, only 6 could move up, 51 gone down while another 36 equities remained stable.
Pakistan International Airline Corporation, Callmate Telips Telecom and Pakistan Telecommunication company were among major gainers of the day while Pakistan State Oil Co Ltd, MCB Bank Limited Engro Chemical Pakistan and Adamjee Insurance Company led the losers side.
NIB Bank Limited continued to be the volume leader of the day with 3.017 million shares followed by the Bank Alfalah Limited with 1.138 million and Arif Habib Securities Ltd with 0.792 million.

Karachi Stock Exchange loses Rs363b in three days

KARACHI - Karachi Stock Exchange (KSE) has lost a massive market capitalisation of Rs363 billion in just three trading days after the restoration of 5 per cent upper and lower locks limits on July 11. The overall decline in the KSE capitalization had been estimated at Rs1519 billion from April 18 to July 16, 2008.
On April 18, the benchmark KSE 100-Index reached the all time high, at 15,676 points but prolong political uncertainty and fragile economic situation coupled with deteriorating law and order situation in the northern part of the country and the US threats of direct attacks in tribal areas, have not only shattered the confidence of foreign investors but also pulled out the local investors from the equity markets of the country.
These major issues had pushed down the KSE-100 index from life high at 15,676 points recorded on April 18 to 10.491 points, reflecting a big decline of 5,185 or 33 per cent.
On the other hand, so far KSE 100-Index saw decline of 1,204 points in three trading after the restoration of 5 per cent lower lock limit.
“At the time market is quite unpredictable but good news and support of government by establishing proposed equity market fund can prop up the stock market because local investors have already invested their funds, so it’s now the government turn to inject investment at the stock markets,” CEO of Dalal Securities M Siddique Dalal said.
“Employees Old-Age Benefits Institution (EOBI), State Life Insurance Company, National Investment Trust (NIT), private and public sector banks have capacity to pour fresh funds into the share markets,” he added
Although share prices at attractive levels but the investors are still concerned to further invest in the share markets due to the expected increase in discount rates, fragile law and order situation and burgeoning political confrontation.
At the moment stock markets are in the grip of confidence crisis and only the government could restore the confidence of the markets, he added.
“I don’t see formation of equity market fund soon, it takes few weeks for launching the fund,” Siddique said
“All eyes are now on today’s meeting between SECP and stock markets, it is being expected that mechanism of the equity market fund will be finalized. If the Rs50bn support fund is launched, it may act as a catalyst for the stock market,” Siddique said. He said that restoration of 5 percent lower lock limit could not manage to provide absolute exit to the small investors so far

LSE on 5 AUG, 2008

Bearish trend prevailed on the Lahore Stock Exchange on Monday
where equities registered losses across-the-board amid ascending transaction volume under
the lead of oil and banking sectors. The LSE-25 index fell to 3062.46 against 3190.50 of
last Friday, thus denoting a decline of 128.04 points.
While trading turnover increased to 11.064 million shares as compared to 7.509 million
shares traded on last trading day of the previous week. PIAC, Callmate Telips Telecom, PTCL,
Bosicor Pakistan and NIB Bank recorded fractional gain while all blue chips including PSO,
Attock Refinery, Pak Oil Fields, PPL, OGDC, Engro Chemical, National Bank, MCB Bank, Bank
Alfalah, Bank of Punjab, Arif Habib Bank, Adamjee Insurance, Arif Habib Securities, Fauji
Cement, Zeal Pak Cement registered declines and closed in red zone.
The market opened on a healthy note but could not sustain and started declining following
selling pressure in all prime shares. The KSE had observed special trading day on last
Saturday so as enable the investors to get out of the market. Though, there was a good
number of shares traded in special session, yet many investors could not offload their
positions.
As soon as the market showed upward move during early hours of trading, the investors
started selling to secure their position which resulted in sharp declines, said Javed Iqbal
of Javed Iqbal Securities, while commenting on the market trend.
Pakistan Muslim League (N) parliamentary party and executive committee's joint meeting is
being held today under the chairmanship of Mian Nawaz Sharif to take categorical decision
prior to holding final dialogue with the PPP Co-Chairman Asif Ali Zardari on the issue of
reinstatement of judges and impeachment of President Pervez Musharraf. This meeting
generated fear of breaching coalition between the two major parties and sentiments were
abruptly changed. As a result, the investors started selling amid panic situation to get out
of the market. Because of panic selling, most of the scrips were closed with lower cap, he
added.
The present situation has shattered the investors' confidence badly who are now reluctant to
come to the stock market. The way, the government is running its affairs, also created
confusion among the investors, he said. There is no use of support funds rather the
government should clear its direction to restore the investors' trust in the stock market,
he maintained.
Declining stocks were ahead of advancing ones as out of a total of 93 active issues, 6
companies registered gain, 51 went down while 51 stayed glued to their previous levels.
Among gainers, PIAC improved by Rs 0.25, Callmate Telips Telecom and PTCL gained Rs 0.20
each. In the minus column, PSO declined by Rs 17.77, MCB Bank lost Rs 12.68, Engro Chemical
depreciated by Rs 9.93, Adamjee Insurance shed Rs 9.88 while Attock Refinery and Pak Oil
Fields were down by Rs 9.47 and Rs 9.39 respectively. NIB Bank Limited was the market leader
whose 3.017 million shares changed hands followed by Bank Alfalah with total trading of
1.138 million shares

KSE on 5 AUG, 2008

Karachi Stock Exchange (KSE) witnessing one of the worst landslides came crashing to its 18
months low, while the small investors bookies and punters, who had sidelined themselves
after the earlier KSE plunge and later goaded into the market by the setting up of support
fund, which was seen no where at this hour of need, leaving the robbed small investors once
again duped. The market hit by negative indicators opened trading in an environment of
extreme distrust and doubts, which until the end of business kept pervading that sent the
big players getting back into their protected shells, while the index today witnessed free
fall all through the trading.

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KSE-index scores over 400, closes at 10853

Following the State Bank’s upped discount rate remaining within expectations, KSE-100 index
today witnessed buoyancy scoring over four centuries. The market opened with a positive
mindset for business, as the State Bank’s enhancement of discount rate came out nearing the
expectations of the investors, which energizing trading gave a shot in the market. Energy,
banking and cement sectors remained at the focus of the investors, while the overall
optimism continued until the close of business today. KSE-100 index closed at 10853 points
after recording a brilliant score of over four centuries. Turnover today aggregated 117
million shares about 7 million shares higher as compared yesterday.

KSE-100 loses 861 points on lack of positive news

KSE-100 loses 861 points on lack of positive news
KARACHI: The Karachi stock market witnessed bearish trading week during which the benchmark KSE-100 Index reached its 19-month low level of 10,171 points.It was because of the huge meltdown in equity values mainly on account of continued monetary tightening by the central bank, cut in OMCs and refineries margins and huge offloading by foreign investors, traders said. Market witnessed selling pressure as investors concerned over foreign selling, expectations of downgrade Pakistan credit rating status and selling continued as margin calls on few brokerage houses besides, law and order situation in the country.The KSE-100 index during the week shed 861 points (8 percent) to close at 10,171 points level compared to previous week’s 11,032 points level. Average daily volumes stood at 140.5 million shares, which was up by 22 percent compared to previous week. Analyst at Atlas Capital Market said KSE 100 index shed 860.78 points during the current week mainly on account of weakening local economic outlook. The index opened on a negative note taking a nosedive on the first trading day as it plunged over 4 percent. The following day index was down by 130 points with most investors speculating a 50bps to 200bps increase in the interest rate along with some increase in SLR and CRR, to be announced in the monetary policy later during the day. The Governor SBP announced an increase of 100bps to tackle the problem of rising inflation and made no change to SLR and CRR rates. It brings a positive rally at the KSE helping the index to recover 404.83 points Wednesday. However, the following trading days showed an opposite picture as the index remained under pressure losing 269.44 and 412.19 points respectively to close at 10,171.39. The investors’ lack of confidence was evident in the declining average daily trading volumes, which registered a 28.65 percent decline to reach 100.24 million as compared to 140.45 million registered last week. The index is expected to remain under pressure in the week ahead and thus would recommend a precautionary stance.News regarding slashing of refiners’ deemed duty on diesel (i.e from 10 percent-7.5 percent) and OMCs margins (by 25-27 percent) also created negative sentiments in the market. As a result market cap of refineries and OMCs fell by 8.5 percent and 12 percent, respectively. Despite monetary tightening, average CFS rate remained unchanged at 14.4 percent whereas amid liquidity issues and lack of investors’ confidence, CFS investment stood at Rs 25.7 billion, its lowest level after 21-months and down by 5 percent WoW.The market performance was worst this week as compare to previous week. The KSE 100 index closed at 10611.14 pts with a loss of 860.78 points. KSE 30 index closed at 12040.20 pts with a loss of 1077.98 points.Trading activity was worst this week as compared to the previous week, as the average ready market volume stands at 100.2416 million shares as compared to 124.316 million shares. Market capitalization stands near to Rs 3.178 trillion. CFS value decrease by 1.72 percent to Rs 30.567 billion as compared with previous week’s value of Rs 31.102 billion and the highest CFS Scrip were NBP, AHSL, POL and DGKC. staff report

KSE

The biggest Stock exchange of Pakistan located in Karachi is the Karachi Stock Exchange .
Due to the liquidity offered by the Karachi Stock Exchange , it is known as stated as the
“Best Performing Stock Market of the World for the year 2002”.
Evolution of the Karachi Stock Exchange By 2007, the number of listed companies reached 754 by the year 2007. The market
capitalization at the same time was US $52 billion whereas the listed capital was US $8.27
billion. Following the estimates of the State bank Of Pakistan , we see that the foreign
investments in the capital market is as large as US $ 523 million.
The performance of the Karachi Stock Exchange has been wavering since the beginning of 2007.
This could be because 2007 is an election year.
Karachi Stock Exchange Indices The Karachi Stock Exchange uses the following index:
• 50 Shares Index- T his index was used initially but as the market grew there was a need
for a new index.
• KSE-100: The KSE-100 is a benchmark used to compare prices over a period of time. For the
construction of the KSE-100 companies with the highest market capitalization. To make the
selection more representative, the companies from all the sectors are chosen. The index was
introduced in 1991 with 1000 as base points. By 2001 it has grown to 1770 points, in 2005 to
9989 points and reached a peak of 12285 by 2007. The KSE-100 is a capital weighted index
comprised of 100 companies.
KSE-30 : This index was introduced at the end of 2006. it is comprised of 30 most floating
stocks. By 1997 the KSE-30 traded at 14199 points.
Arbitration The disputes that arise between members and the investors in the Karachi Stock Exchange are
resolved through the advices of the Arbitration Committee of the Exchange.