Insurable Interest Canadian Insurance Blog

More clients are looking for hybrid protection, with one more recent innovation seeing tremendous uptake

A recent survey uncovered people’s need for the ground-breaking rider offered with selected disability plans

Jan. 16–MassMutual, which announced last year its departure from Enfield to Massachusetts, is selling its 435,000 square feet of office space on 66 acres. Its agent has not disclosed the sales price, but the assessed value is $34.6 million, according to the Enfield assessor. The property tax bill is about $1.3 million. CBRE/New England, the commercial real estate firm listing the property, promotes its as a “campus that combines superior infrastructure, a strong amenity base and excellent branding potential with excellent highway access and visibility, a desirable greater Hartford location and access to a highly-skilled and educated workforce.” The site, with a 5,000-square-foot data center, a six-story parking garage and three buildings dating to the 1980s, may accommodate a fourth building. The real estate broker touts MassMutual’s proximity to Interstate 91 and Bradley International Airport and that it’s accessible to the Hartford and Springfield labor markets. The campus includes a day care center, parking garage, fitness center, cafe and meeting facilities. It also boasts a helicopter landing pad. Special permitted uses at the site includes day care centers, commercial recreation, financial institutions, hotels, medical offices, research labs, residences, stores, schools and other uses. Massachusetts Mutual Life Insurance Co. announced in...

By Dan Pierson In my career, I’ve had the privilege of working with some of the most successful insurance advisors in the country, helping them to find a place for large, hard-to-place cases, resulting in millions of dollars in commissions. I have served on multiple insurance carrier advisory boards and participated in a global think tank about the future of life insurance. The people I have worked with are all smart, dedicated and hardworking insurance professionals. They are mostly Forum 400 advisors who work with clients whose net worth exceeds $100 million. They are also great teachers. I’ve learned some lessons from watching top advisors do the things that make them so successful. However, many other lessons have involved noticing what other insurance advisors either didn’t know how to do or were not willing to do. 1. Top insurance advisors invest in their business. The phrase “it takes money to make money” is definitely true in the insurance business. Virtually all successful insurance advisors invest heavily in their businesses, whether that means hiring a coach, marketing their practice or investing in the latest technology. 2. They invest in their staff, and they delegate, too. Successful insurance advisors realize that everyone...

Such financial contributions, which firms don’t disclose, could lead to policy distortions and manipulation

An insurance agent was sentenced to two years in federal prison Monday for his role in the ghoulish schemes of S.C. Irish Travelers to make up to $33 million off the deaths of elderly or sick people. Leonard New, 69, who sold insurance in the North Augusta area, received a lighter sentence than federal prosecutors requested. That was because he cooperated with FBI agents after being confronted with evidence of his crimes, was remorseful, is needed by his family, is elderly and is undergoing treatment for eye cancer, said U.S. District Court Judge Michelle Childs. But Childs rejected a claim by defense lawyer August “Tav” Swarat that New had no prior record. “If you have done years of fraud, that essentially is a prior record,” Childs told Swarat and the courtroom audience, which included a dozen of New’s family members and friends. New, who pleaded guilty to racketeering conspiracy, could have faced eight years and a month in prison. His two-year sentence is lighter than the punishment given two other ex-insurance agents who also sold fraudulent insurance contracts to dozens of Travelers. One was sentenced to five years in prison; the other to 27 months. Several thousand Travelers live in...

Gartner reveals six predictions to guide marketing leaders through uncertain times ahead Stamford, CT (Jan. 14, 2019) – Shifting consumer behaviors, mounting regulatory pressures, organizational shifts and disruptive automation combine to pose a real and destabilizing threat to many marketing leaders and their strategies for the years ahead, according to Gartner Inc. In the report,… Read more » The post Marketing Strategies at Risk Due to Changes in Consumer Behaviors, Technology Innovation: Gartner appeared first on Insurance-Canada.ca.

Toronto, ON (Jan. 14, 2019) – Crawford & Company (Canada) Inc. is pleased to announce the expansion of its Crawford Claims Solutions, northern Ontario operations with the addition of Blair Boilard and his team, operating out of Elliot Lake and Espanola locations. This strategic decision was made in support of our mission to restore and… Read more » The post Crawford® Expands Servicing Capabilities in Northern Ontario with the Addition of Blair Boilard and Team appeared first on Insurance-Canada.ca.

Jan. 14–The trial of a mooching man-child accused of murdering his estranged wife for her money nearly a decade ago is set to start Monday. Jury selection will begin in Manhattan Supreme Court in the trial of Roderick Covlin, who was charged in November 2015 with strangling financial adviser Shele Danishefsky Covlin, the 47-year-old mother of their two kids, on New Year’s Eve 2009. She was found lifeless in the bathtub inside her Upper West Side apartment by their then 9-year-old daughter Anna. Covlin, 45, was living in a unit across the hall at the time. Prosecutors say Covlin, an abusive, jobless womanizer whose life was consumed with competing in backgammon tournaments, had the motive and opportunity to snuff out the life of his spouse in the midst of their bitter divorce battle. He allegedly hoped to get access to the money she left to her kids — and to what he believed would be a life insurance payout to him. Covlin wrote to a girlfriend a week after the alleged murder that “(e)ven if my wife changed her will…insurance money (as long as hers didn’t lapse…fingers crossed)…goes into a trust for me,” according to court papers. Danishefsky Covlin was...