Insurance

New bank insurance rules offer clarity

Anyone wanting to voice their opinion on the regulations governing banks in the insurance business should speak up—the comment period closes March 4.The federal government rather quietly issued draft regulations that appear to give the stamp of approval to locating insurance branches near banking branches. Under the proposed regulations, Section 10 of the Insurance Business […]

By Steven Lamb |February 17, 2011

4 min read

Regulators struggle with MGA model

The Canadian Council of Insurance Regulators has released an “issues paper” on the managing general agencies model of insurance distribution, and is calling on the industry for input into how the market should be regulated. In some ways, the release of the paper is an admission that regulators still don’t have much of a grasp […]

By Steven Lamb |February 11, 2011

3 min read

RRSP season? Try UL season

In a Canadian Life and Health Insurance Association (CLHIA) survey conducted a little over a year ago 75% of respondents said they look to their financial advisor for estate planning advice and on average it had been five years since they were approached to review their needs and coverage.

By Helena Smeenk Pritchard |February 10, 2011

3 min read

Yes, you can insure a drug user

Soft drugs, such as marijuana and hashish do not mix well with each other, nor with traditional life insurance. And hard drugs, such as cocaine and heroin, make for an even tougher combination. The considerations go beyond definitions of legality and extend to the insurers’ risk management processes, explains Lorne Marr, a seventeen-year veteran of […]

By Al Emid |January 31, 2011

4 min read