Insurable Interest Canadian Insurance Blog

RBC Global Asset Management has announced the exchange ratios for five RBC ETFs that will be merged with certain corresponding iShares ETFs.

A recent report from Deloitte Canada – “Insurance re-imagined”  – focused on new techniques for to marketing, pricing, and  aligned supports.   Forward thinking insurers and distributors, are creating new methods to increase the significance of insurance and the growth of new results for insurers, suppliers, and users.  What will this mean? Let’s start with the easiest:… Read more » The post Moving Fundamentals: Cashbacks to Platforms appeared first on Insurance-Canada.ca.

Brokers now able to submit small business insurance applications their way Toronto, ON (Apr. 8, 2019) – Aviva Canada is proud to announce the launch of Aviva Ally, a solution that provides commercial insurance brokers with a variety of ways to submit their small business insurance application and easily access Aviva’s new small business coverage,… Read more » The post Announcing Aviva Ally – transacting small business insurance made easy appeared first on Insurance-Canada.ca.

April 07– Apr. 7–HIGH POINT — You’ve probably heard stories about “the one that got away.” Sometimes it’s a tale about a big ol’ bass that a fisherman claims he had on his line, but the lunker somehow managed to escape. Other times it’s a lovelorn guy or gal lamenting the loss of “Mr. Right” or “Miss Perfect” in a romantic relationship gone awry. In this case, though, “the one that got away” takes on a whole new meaning — it refers to a High Point man who, more than 60 years ago, very nearly found himself on the victim list of a black-widow serial killer. The year was 1954, and in late November, a most unusual story made national headlines when a 49-year-old grandmother named Nannie Doss confessed — actually, she “cheerfully confessed,” according to newspaper accounts — to murdering four of her five husbands by giving them rat poison. Newspaper photographs showed the harmless-looking woman actually smiling and sometimes laughing — even as she was being interrogated or taken into custody — which led to the press nicknaming her “The Giggling Granny” and “The Jolly Black Widow.” Don’t let her sweet, grandmotherly countenance fool you, though — in...

Thunder Bay, ON (Apr. 4, 2019) – Hack IT, Northwestern Ontario’s first InsurTech hackathon, was held last week (March 29-30) at Ingenuity, Lakehead University’s student business incubator hub, in Thunder Bay. Organized by the Northwestern Ontario Innovation Centre, Lakehead University and local insurance brokerage Jones & Associates Insurance, the 24-hour event focused on technological innovation… Read more » The post Industry Innovation Spotlighted at Northwestern Ontario’s First InsurTech Hackathon appeared first on Insurance-Canada.ca.

Are you returning to Canada from a stay abroad, or coming for the first time, without a Government Health Insurance Plan (GHIP)? Visitors to Canada Emergency Medical Insurance Plans (VTC) are designed for travellers who are temporarily visiting Canada, however you may be surprised to learn that these policies may meet the needs of newcomers to Canada as well. While VTC plans are not designed to match Canada’s universal health care plans (for example, benefits for regular check-ups are typically not included), newcomers to Canada may benefit from the emergency medical benefits available under a Visitors to Canada Emergency Medical Insurance Plan.   Why do newcomers to Canada need insurance; aren’t they covered under Canada’s healthcare system? Depending on the province or territory of arrival, newcomers to Canada may wait up to three months for their Canadian Government Health Insurance Plan (GHIP) to come into effect. During this time, they are not eligible for coverage under Canada’s universal healthcare plan. It is recommended newcomers purchase emergency medical insurance to financially protect themselves and their families from the costs they may incur if they require emergency medical treatment during the waiting period.   What happens if I purchase a policy for...

  Your Canadian credit score can make a big impact on your life, whether it’s to get a phone, apartment rental, or mortgage. The best way to get a sense of your credit situation is to get your credit score and credit report, which will give you a window into your full credit history and how it’s affecting you. Check out our guide below to understand the mechanics of credit scores and reports, and how to make the right choice when buying one for yourself. What’s the difference between my credit score and a credit report? A credit report outlines every loan a person has taken out in the last six years. This includes information such as if bills are paid on time, how much is owed, and how close a person is to their credit limit. On a person’s report, R represents revolving debt, and it is rated from 0 (unknown) to nine (bad debt). An R1 rating means a person pays bills within 30 days, or as agreed. All of this credit info remains on a person’s file for at least six years. While it’s easy to confuse the two, a credit score is not featured in a...

  Starting in 2017, the Canada Mortgage and Housing Corporation (CMHC) has been making both special and regular dividend payments to its shareholder, the Government of Canada. The largest sum was for $4-billion in June 2017, which was spread over two years. At that time they announced the implementation of a dividend framework, and have been making regular payments. The framework, they say will ensure that CMHC effectively ‘manages its capital in relation to risk and pays dividends to the government when capital is in excess of levels required to deliver its objectives.’ This does not impact the government deficit as CMHC’s earnings are already consolidated into the government’s accounts. For their part, CMHC says it continues to hold capital in line with its risk profile and in accordance with OSFI’s regulatory capital requirements. CMHC is the main insurer of high ratio mortgages in Canada. If you put less than 20 percent down to buy a home, banks want a guarantee that they will still get their money if you were unable to make the payments. Mortgage loan insurance enables Canadians to purchase homes with a down payment starting at five percent. CMHC’s mandate is to help those Canadians meet their...

BALTIMORE — Al Bundy would not be a good life insurance prospect, but Jay Pritchett would be a warm one. The two iconic television characters played by actor Ed O’Neill represent the hot and cold of prospecting, said Vikram Kamath, director of the LIMRA Center of Excellence for Analytics. Kamath shared the results of new analytics LIMRA is using to drill deeper and more accurately identify who makes a good prospect, and also who makes a good agent. The session highlighted the final day of the 2019 Life Insurance Conference. Kamath had fun recalling the Al Bundy character with the audience. The sad-sack Bundy starred in “Married… with Children,” a Fox series that ran from 1986 to 1997. A shoe salesman of modest means, Bundy was forever losing in career, finances and family efforts. “Judging by the way he was always talking about his high school football days, he didn’t go to college and it never seemed like anything good was happening for him,” Kamath said. LIMRA research shows that ideal prospects are married, younger, have a decent income, have young children, have a financial advisor, and own a home or property. Not every strong prospect has all of those...

Are you returning to Canada from a stay abroad, or coming for the first time, without a Government Health Insurance Plan (GHIP)? Visitors to Canada Emergency Medical Insurance Plans (VTC) are designed for travellers who are temporarily visiting Canada, however you may be surprised to learn that these policies may meet the needs of newcomers to Canada as well. While VTC plans are not designed to match Canada’s universal health care plans (for example, benefits for regular check-ups are typically not included), newcomers to Canada may benefit from the emergency medical benefits available under a Visitors to Canada Emergency Medical Insurance Plan. Why do newcomers to Canada need insurance; aren’t they covered under Canada’s healthcare system? Depending on the province or territory of arrival, newcomers to Canada may wait up to three months for their Canadian Government Health Insurance Plan (GHIP) to come into effect. During this time, they are not eligible for coverage under Canada’s universal healthcare plan. It is recommended newcomers purchase emergency medical insurance to financially protect themselves and their families from the costs they may incur if they require emergency medical treatment during the waiting period. What happens if I purchase a policy for a coverage...