Insurable Interest Canadian Insurance Blog

Start Slideshow As Tax Day — April 15 — draws closer, WalletHub, a personal finance website, looked at what percentage of income that high, medium and low earners across the country spend on sales and excise taxes, property taxes and income taxes. WalletHub generated estimates of the state-specific tax burden on residents at three income levels — low ($25,000), medium ($50,000) and high ($150,000) — in each of the 50 U.S. states and the District of Columbia. Researchers used data from the Institute on Taxation and Economic Policy’s 2024 report, which published tax burden estimates at seven points in the state-specific income distribution.  In order to compare tax burdens for households at the same income level across states, the researchers fit a regression model to estimate the relationship between income and tax burden for each state and the District of Columbia. They used log transformations to improve model fit and deployed this model to generate predicted tax burdens at the income levels they examined. The share of income that taxpayers contribute toward tax obligations varies by state. In most states, low- and middle-income families pay a greater share of income than do wealthy families. This regressive effect owes in part...

Toronto, ON (Feb. 28, 2024) – CSIO is pleased to announce its 2024 Members’ Meeting and Reception will feature a keynote address by Andrew Kirsch, Founder and CEO of Kirsch Group. The annual meeting takes place on April 18 at the One King West Hotel in Toronto. Andrew Kirsch, a graduate of Brown University in Public Policy, has almost 20 years of experience in security, having worked in both public and private sectors. He founded Kirsch Group, a risk consultancy firm helping government, corporate and private clients identify and mitigate security threats. Additionally, Mr. Kirsch was the first Department Security Officer of Ontario’s Office of the Provincial Security Advisor with a mandate to enhance information and network security across the Ontario Public Service. Prior to this, he served as an intelligence officer with the Canadian Security Intelligence Service, where he held roles as a policy analyst and a field investigator ultimately leading teams on covert warranted special operations. Mr. Kirsch speaks regularly on the growing cybersecurity threats in Canada and what we can do to better protect ourselves. “CSIO looks forward to celebrating our achievements together with members at our 2024 Members’ Meeting and Reception,” said Catherine Smola, President &...

On Side grows in Ontario with new satellite branch opening Toronto, ON (Feb. 29, 2024) – On Side Developments Ltd. continues to expand in Eastern Canada with the opening of its newest satellite branch in Chatham, Ontario. This location brings On Side Restoration’s nationwide reach to 46 branches and is an important milestone toward the company’s growth goals in the region. From Chatham, On Side will be better positioned to serve the communities of Wallaceburg, Dresden, Thamesville, Blenheim, Ridgetown and many others. Bill Docherty, Territory Manager in Ontario for On Side, says the new branch will help meet the needs, and greater demand for restoration services within this area of the country. “Chatham and its surrounding areas are poised to have major growth because of the supply of affordable housing and its proximity to nature, beaches, and lakes. We are very excited to call Chatham home to one of On Side’s newest branches and look forward to becoming part of the community.” For On Side, this is part of a 5-year plan to increase growth and profitability while developing its people. “We’re focusing on broadening our geographical reach and building our expertise to meet the needs of more communities across...

CHES Empowers Insurance Brokers with a Comprehensive Guide for Business Challenges in 2024 Toronto, ON (Jan. 7, 2024) – CHES Special Risk, a prominent name in professional insurance solutions, is proud to announce the release of its highly anticipated “What’s Hot Guide” on Professional Liability Insurance and Medical Malpractice Insurance. Tailored for insurance brokers with a keen focus on industry trends, this guide is a meticulously curated resource shedding light on key sectors and coverage options crucial for navigating the complex landscape of professional insurance in today’s dynamic environment. Michael Chaplik, Senior Professional Liability Underwriter at CHES, expressed his enthusiasm about the guide’s significance in the ever-evolving realm of Professional Liability and MedMal Insurance. “In an industry marked by rapid changes, it is imperative for businesses to remain well-informed about the diverse products and options available in professional liability and medical malpractice insurance. Our ‘What’s Hot Guide’ is a valuable asset, offering insights into innovative solutions that can make a substantial difference,” he stated. To enhance the introduction of the guide, Chaplik also emphasized CHES’s distinctive advantage for insurance brokers. He stated, “Our markets are exclusive to us, offering alternative products and coverage beyond what traditional London-based MGAs provide. This...