Insurable Interest Canadian Insurance Blog

The Canada Revenue Agency is reminding Canadians affected by flooding that it offers taxpayer relief when natural disasters occur.

A British Columbia advisor lost his license for one year and is fined $2,500 by the Insurance Council of British Columbia after he admitted to council that he mislead insurers on several occasions.

London, UK (Apr. 24, 2019) – Legal & General Group plc (“Legal & General”) is pleased to announce that it has agreed its first Pension Risk Transfer (PRT) transaction in Canada for more than CAD $200 million (£114 million). The Canadian PRT market is an attractive and fast-growing market, which has more than doubled in… Read more » The post Legal & General announces first Canadian Pension Risk Transfer transaction appeared first on Insurance-Canada.ca.

Hiscox Cyber Readiness Report 2019 assesses & ranks cyber security strategy, execution London, UK (Apr. 23, 2019) – A sharp increase in the number and cost of cyber attacks is the key finding in a study of more than 5,400 organisations across seven countries, commissioned by insurer Hiscox. More than three out of five firms… Read more » The post Cyber readiness levels stall as attacks reach new intensity: Hiscox appeared first on Insurance-Canada.ca.

Insurance technology leader leverages AWS to accelerate its pace of innovation, unlock data-driven insights, and automate insurance processes in the cloud Seattle, WA (Apr. 24, 2019) – Amazon Web Services, Inc. (AWS), an Amazon.com company, has announced that Vertafore, a leading software and data provider to the insurance industry, is migrating its business-critical products and… Read more » The post Vertafore Selects AWS as its Preferred Cloud Provider appeared first on Insurance-Canada.ca.

Detroit Free Press (MI) As Miguel Cabrera fights to reduce his child support payments to an ex-mistress, the woman’s lawyer is seeking to hold him in contempt, claiming the Detroit Tigers MVP has disobeyed a court order involving their two children. Cabrera should be fined or locked up, the lawyer argued in a Thursday court filing that claims the Tiger slugger is dragging his feet in complying with a judge’s March 21 child support order. Specifically, an attorney for Belkis Rodriguez, the Orlando woman who had a 5-year affair with Cabrera that produced two children, claims that Cabrera has not complied with the following requirements: — Pay her $89,581 in back child support in full by May 1, or over time. Cabrera claims he doesn’t owe it and “has no intention of paying it,” records state. — Obtain a $5 million life insurance policy for both of their children. The girl is 3; the boy, 6. Cabrera is challenging this. — Pay for the children’s medical and dental insurance. — Buy the children unblocked, annual passes to Walt Disney World, Universal Studios and Sea World. The mother paid nearly $4,000 to renew the passes, but Cabrera has yet to reimburse...

Detroit Free Press (MI) Personal turmoil aside, Miguel Cabrera’s affair with a Florida woman will end up costing him at least $7 million in child support — that is, if a judge’s order sticks. The Detroit Tigers slugger isn’t having it. Cabrera is contesting a Florida judge’s $20,000-a-month child support order, calling it “grossly inflated” and a “windfall” for the mother, whom he has long portrayed as a “gold-digger” trying to cash in on his wealth. Cabrera believes $13,000 a month is more appropriate, and sufficient for the children’s needs, according to court documents. The girl is 3; the boy 6. Cabrera, who makes $30 million a year, also is refusing to pay off his ex-mistress’ nearly $1 million mansion, as ordered by the judge in March. And, he doesn’t want to buy $5 million life insurance policies for the children, or pay their mother nearly $90,000 in back child support that the judge says he still owes her. Cabrera is asking the judge to reconsider his child support order, arguing it favors the mother over the children. “It is obvious from the court’s final judgement that it placed considerable, even undue emphasis, on the standard of living of the...

Obesity Canada report makes firm recommendations to government after ‘discouraging’ findings

Simulations comparing investments-only portfolios with ones that include annuities provide positive proof