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Insurance 

Compensation fund : the Authority will compensate the victims retroactively

by Alain Thériault 12 February 2019 13:30 Thefinancial markets Authority has invited the victims of fraud between the 12 June 2015 and June 13, 2018 to send a claim prior to June 13, 2019. This retroactive period of intended victims who could not be compensated by the Fund according to the old criteria. Adopted June 13, 2018, the Act aimed primarily to improve the supervision of the financial sector, the protection of deposits of money and the regime of functioning of financial institutions (L. Q. 2018, c. 23) has led…

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Insurance 

End-of-year fish tail to the pension plans, defined benefit

by 12 February 2019 11:30 Photo : Freepik The year 2018 year had started positively for the defined benefit pension plans in Canada. However, the growth was terminated in the fourth quarter, reports RBC investor Services and treasury services. Each quarter, this subsidiary of the Royal Bank of Canada tracks the performance and asset allocation of its customers ‘ pension plans. It draws global data. According to these figures, the yields were on the rise for the first nine months of 2018. The month of December disastrous experienced by the…

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Insurance 

Hub continues its growth strategy in Ontario

by Writing February 12, 2019 09:30 Photo : Freepik The us law firm, Hub International continues to pursue its strategy of growth by acquisition, this time adding the assets of the toronto firm benefits Firstbrook Pointon Benefits Incorporated in her lap. The terms of the transaction were not disclosed. The firm offers employee benefit programs, consulting, services, annuity and disability management, among others. Bob Pointon, president and manager of Firstbrook Pointon Benefits, will join Hub Ontario. John Firstbrook, founder of the firm and chief executive officer, John T. Firstbrook Insurance…

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Insurance 

Case law in damage insurance : bit of a stir in 2018

by Aurelia Morvan 11 February 2019 13:30 The year 2018 has not been marked by major changes in the case-law, according to the law firm Lavery. The year 2018 follows in the same vein as 2017, where Bernard Larocque and Jonathan Lacoste-Jobin had made the same observation. Each year, Lavery is a review of the causes which have made the news legal insurance. The Journal of insurance has attended its annual review of the case law 2018 law of insurance, on the 8th of February, in the montreal offices of…

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Insurance 

The financial institutions at the crossroads in the face of the technology, says OSFI

by Frédérique De Simone 11 February 2019 11:30 Photo : Freepik To offer products and services tailored to the needs of their customers, financial institutions need to rely as much on new technologies than on human judgment. Ben Gully, assistant superintendent at the Office of the superintendent of financial institutions (OSFI), has defended this thesis in front of an audience gathered in Toronto by theC. D. Howe Institute, February 7. He titled his speech Risk non-financial and operational resilience : the rise of the machines. “Although the financial resilience should…

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Insurance 

National bank launches exchange-traded funds

by Alain Thériault February 11, 2019 09:30 Photo : Freepik National bank Investments (BNI) has launched four exchange-traded funds. They are traded on the Toronto stock Exchange since Friday, 8 February. The ETFS are on a roll. According to the bulletin, the Canadian ETF Flows, published in February by the financial markets division of National Bank Financial, BNI becomes the 35th provider of ETF to make its entry into the canadian market, and its four products join the other 20 that have been launched since the beginning of the year….

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Insurance 

Great-West Lifeco completes 2018 up

by Aurelia Morvan 8 February 2019 13:30 Paul Mahon Great-West Lifeco has ended the fourth quarter of 2018, with net profit of 710 million dollars (M$). An increase of 81 % compared to the fourth quarter of 2017, when the net profit was$392 Million. If one focuses solely on the canadian operations of the company, the conclusion differs. Net profit amounted to 310 Million during the fourth quarter of 2018, while it was $ 338 Million during the same quarter of fiscal 2017. The holding company accounted for this decrease…

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Insurance 

Winter storms : the damage reached nearly$ 1 billion in the United States in January

by Writing 8 February 2019 11:30 The winter storms and the extreme cold of the month of January have led to damages which amounted to about one billion u.s. dollars in the United States, reveals Aon in its monthly report of the disaster. The temperatures have reached -55 degrees Celsius in the american Midwest in late January. At least five events have caused for most of the hundreds of millions of us dollars (M US$) of damage. The first, ranging from 5 to 6 January, has touched the states of…

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Insurance 

Floods : a national forum is planned for the spring

by Hubert Roy February 8, 2019 09:30 The federal government has promised to hold a national symposium on the issue of floods in Canada. This is what was revealed to Don Forgeron, chief executive officer of the insurance Bureau of Canada (IBC), in a speech yesterday, 7 February, in Halifax, Nova Scotia. Mr. Blacksmith was also made on efforts to lobby the organization to the risk posed by flooding is better controlled. “As a society, we need to make the right decisions. We must stop putting people in danger in…

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Insurance 

Intact improves its performance in the last quarter of 2018, but not for the full year

by Frédérique De Simone February 7, 2019 11:00 Photo : Freepik Intact financial Corporation has ended 2018 with a net income of $ 707 million (M$), or$ 85 Million less than in 2017. The insurer asserts that the improvement of its results in individual insurance, especially motor insurance, was offset by higher large claims and catastrophe losses in the insurance business. The insurer, however, has improved its performance in the last quarter of 208, its net income from $ 232 Million to$ 244 M$. This was his quarter, the most…

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