july 27, 2004

status of insolvencies as at June 30, 2004

ADVOCATE GENERAL

CLOSED FILES: 3,799 (sub files)
PAID CLAIMS: $44,037,846
O/S FILES: 0
O/S RESERVES: 0

REMARKS:

Final dividend received. We have made a full
recovery.

ONTARIO GENERAL

CLOSED FILES: 35
PAID CLAIMS: $594,210
O/S FILES: 0
O/S RESERVES: 0

REMARKS:

The liquidator is considering asking the court
For direction on how to dispense the small funds remaining in the estate.

AMERICAN MUTUAL

CLOSED FILES: 2
PAID CLAIMS: $66,475
O/S FILES: 0
O/S RESERVES: 0

REMARKS:

This liquidation is now wound up and we
received 100% recovery of all amounts paid.

CANADIAN UNIVERSAL

CLOSED FILES: 9
PAID CLAIMS: $527,085
O/S FILES: 0
O/S RESERVES: 0

REMARKS:

All claims have been settled and we have
received a 100% dividend from the liquidator.

BEOTHIC GENERAL

CLOSED FILES: 47
PAID CLAIMS: $2,309,511
O/S FILES: 0
O/S RESERVES: 0

REMARKS:

Dividend received to date $1,949,517.90

HILAND INSURANCE

CLOSED FILES: 620
PAID CLAIMS: $6,601,946
O/S FILES: 4
O/S RESERVES: $127,000 (THIS INCLUDES A RESERVE OF $100,000 FOR LEGAL AND ADJUSTMENT EXPENSES)

REMARKS:

Paid claims includes $387,033 paid on claims where coverage was disputed between hiland and lloyds. We have commenced legal proceedings against lloyds to recover these funds.

MAPLEX GENERAL

CLOSED FILES: 2566
PAID CLAIMS: $23,328,040
O/S FILES: 6
O/S RESERVES: $355,000

REMARKS:

We Have Received A 55% Dividend.

GISCO

CLOSED FILES: 648
PAID CLAIMS: $3,703,738
O/S FILES: 10
O/S RESERVES: $994,000 (INCLUDES $250,000 FOR LEGAL AND ADJUSTING EXPENSES)

REMARKS:

Nearly all first party claims have been settled. We are arranging a meeting with the liquidator in order to obtain an update on this
Liquidation, and to assess what dividend we might anticipate.

RELIANCE INSURANCE CANADA

At this point, no assessment has been made on members and all payments have been made by the liquidator using monies from the estate.

CANADIAN MILLER'S MUTUAL

CLOSED FILES: 168
PAID CLAIMS: $3,902,162
O/S FILES: 23
O/S RESERVE: $1,875,657

REMARKS:

Although most claims have been closed very
quickly, the last few will take some time to
resolve. We should not expect this estate to be
complete for several years.

MARKHAM GENERAL

CLOSED FILES: 2101
PAID CLAIMS: $7,702,133
O/S FILES: 313
O/S RESERVES: $9,010,110

REMARKS:

Claims totals have deteriorated over the last nine months. Following discusions with the
liquidator we may need to obtain additional
funds to satisfy our mandate.

HOME INSURANCE CANADA

At this point, no assessment has been made on members and all payments have been made by the liquidator. The court has now approved the transfer of all policies and claims to lombard insurance company. Once the liquidator is discharged our duties as inspector will cease and we expect no need to assess our members.

R.G. Riddles
Vice-President, Claims