Insurable Interest Canadian Insurance Blog

A new poll sheds light on how willing Canadians are to consider taking medications that contain the substance

Highest-ever policyowner dividend underscores financial strength; strategic transactions position company for future success SPRINGFIELD, Mass.–MassMutual today reported strong 2018 financial results fueled by record revenue, as well as total adjusted capital that remained at an all-time high. The company also announced or completed a number of strategic transactions in 2018 that will yield future opportunities and position the company for continued growth and success. For the year ended December 31, 2018, MassMutual reported total sales through its advisor network of $30.8 billion, a 20 percent increase over the prior year, led by strong demand for its life insurance and annuity offerings as part of the company’s broad range of holistic financial solutions. These results, coupled with strong investment income, resulted in record revenue of $32.5 billion, a 24 percent increase over 2017. The company’s ability to honor its commitments was as strong as ever, with statutory surplus ending the year at $15.6 billion and total adjusted capital achieving a record $19.9 billion1 – more than double over the past decade, and helping MassMutual maintain among the highest ratings of any company in any industry2. It is this same stability that enabled the company to approve an estimated $1.72 billion dividend...

The British Columbia Securities Commission has announced that it has received $4.8 million in administrative penalties from two Ponzi scheme fraudsters.

When I was 16, I found part time work after school at a large, independent drug store.  Beyond deodorant, soap, lipstick, and the like, the owners had really good candy.  And, the owners prided themselves with really good candy that came from Europe and England. The owners were quite generous with the Baby Ruths and… Read more » The post Get the Best: The New Insurance Order Trumps Sweet Grifting appeared first on Insurance-Canada.ca.

Beazley Breach Insights, February 2019 New York, NY (Feb. 21, 2019) – Opportunistic cyber criminals are engaging in a new, darker strain of email compromise by attempting to bribe recipients into paying crypto-currency ransoms using so-called ‘sextortion’ tactics. A typical case of sextortion investigated by Beazley Breach Response (BBR) Services involves an email from someone… Read more » The post ‘Sextortion’ and the dark side of the web: Beazley Breach Response appeared first on Insurance-Canada.ca.

Highlights: Small business employers (those with fewer than 100 employees) make up 97.9 per cent of all employers in Canada, of which firms with fewer than 20 employees make up 86.4 per cent** Fewer than half (45 per cent) of small businesses are estimated to offer employee benefits, which can leave many Canadians without protection… Read more » The post Great-West Life’s Flexbox to help increase access to workplace health benefits plans for employees of small businesses appeared first on Insurance-Canada.ca.

Feb. 24–Before Minnesota United turned the first shovels for the construction of its new stadium — before the team was even officially a part of Major League Soccer — team owner William McGuire reached out to Allianz Life Insurance Company of North America to be the official stadium naming partner. McGuire recognized early that there would be additional benefits, besides financial, by partnering with the Allianz name and its association with some of the biggest names in global soccer. The St. Paul stadium will be the eighth bearing the Allianz name. Allianz Life’s German parent company Allianz SE already has established naming deals with the Munich home of FC Bayern, the Turin, Italy, home of Juventus Football Club, plus soccer or rugby stadiums in Nice, France, Sydney, São Paulo, London and Vienna. With Allianz’s ties with some of the best soccer clubs in the world, the possibilities exist for international preseason games or hosting international exhibition games. Julia Gutz Moller, who led the negotiations on Allianz’s end, said it was interesting how the talks progressed with the team’s progress. “We talked about the changing face of sports in the U.S., we talked a lot about the changing face of our...

In more senses than one, being in a relationship means there will be some give and take, especially if you decide to live together. Before moving in with your partner, you’re probably thinking about how you two will divide chores, who’s going to walk the dog every day, and which side of the bed you can claim. However, one thing is for sure, you two are going to have to have the money talk. What’s our budget?  How will bills be paid?  Should we open a joint bank account? If you’re just married, or the relationship is trending towards long-term, considering the potential advantages and disadvantages of joining your accounts or keeping them separate is important. Traditionally, joint bank accounts were a given for most married couples, though, prior to taking this leap, here are some things to think about before joining accounts with a spouse. Keeping your accounts separate Pros Having your own account may give you a sense of financial independence and privacy. You can easily own up to how much money goes in and out of your account, you can keep transactions private, and you don’t need to feel responsible for someone else’s funds. Depending on the...

Renting an apartment is expensive, and so is buying a house; but after a certain age, continuing to live with your parents may become… mundane. We all get to that point when we just need our own space, but unfortunately, if you’re single, there aren’t many options when it comes to saving on housing costs…unless you’re willing to mingle. Renting a place with roommates is always an option, but there’s a growing trend among home buyers: buying a home with a friend. In 2017, a report from RE/MAX showed 41 per cent of Canadians would consider buying a home with a family member or roommate. It’s no wonder Canadians are looking to split their housing costs in less-than-conventional ways; while the Canadian Real Estate Association reports a decrease of 4.9 per cent in the average housing sale price from December 2017 to 2018, the average Canadian house costs $472,000. Prices are even steeper in the country’s largest cities, with Vancouver and Toronto topping the list as being the most expensive in the country. With those prices in mind, having a friend go splits with you on a house could be the perfect (or even only) way to break into the...

MEMPHIS, Tenn. — The sudden death of a loved one can leave a family scrambling to find the money for a funeral. More and more people in the Mid-South are now turning to fundraising websites for help including Danielle Jones’ family. “I asked the paramedics is he breathing? They said no he`s gone. I just lost it. I lost it,” she said. Her uncle, Lasper Smith Junior, likely died of a heart attack. He was just 58-years-old. “Very unexpected. Very unexpected,” she said. Now in the midst of mourning, Jones and her family are struggling to find the money to pay for his funeral. “Why is it so expensive? Why is everyone`s prices so high and so different?” she said. Jones said it’s going to cost $5,200 for a modest funeral and the plot at New Park Cemetery, where her entire family rests. Her uncle didn’t have life insurance. “It’s the bare minimum. I know he deserves more,” she said That $5,200 is below the median cost according to the National Funeral Director’s Association. In fact, they said the average funeral costs between $7,000 and $9,000 and funeral costs with cremation $6,000 to $7,000. A hefty price tag that’s been...