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Insurance 

Echelon continues its plunge in the first quarter

by Frédérique De Simone May 21, 2019 09:30 The holding company Step Financial Holdings has reported a loss of net income of 259 % in the first quarter. The insurer had posted a net profit of 5.64 million dollars ($M) in 2018, while the results for the first quarter of 2019 instead display a loss of nearly$9 Million. The fall is due in particular by reason of loss of subscription of$ 5.1 Million in insurance for individuals and$ 2 Million in insurance to businesses. The trend of the last years…

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Insurance 

Will Your Insurance Company Cover Fire Department Charges?

If a fire breaks out on your property, your home insurance will cover the replacement cost, which is usually a fixed amount specified in the policy. But after fires occur, Canadian residents are increasingly being hit with bills from fire departments, particularly private fire departments. The good news is that your home insurance will cover these charges, usually without a deductible. That is, as long is emergency fire response charges are specifically included in your policy. What are

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Insurance 

Group Ultima password banner wholesaler

by Frédérique De Simone 21 May 2019 07:00 The Group Ultima is no longer considered as a banner, but as a wholesaler for two years now. This choice responds to the desire of expansion and growth of portfolio, and this, even if as a banner, its members amounted to a premium volume of $ 1.2 billion (G$). Daniel Tousignant, director general, sees in the wholesalers of the best options and more potential for growth than the banners. “The wholesaler is favored because it is not limited,” he says. Mr. Tousignant…

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Insurance 

Ontario will no longer cover the medical costs of Ontarians travelling abroad

by Aurélia Morvan May 17, 2019 11:00 The government of Ontario has decided that theOntario Health Insurance Plan (OHIP), the equivalent of the RAMQ in Quebec, does not cover the emergency medical expenses incurred by residents traveling abroad. This decision could enter into force from the 1st of October next. Thecanadian Association of financial institutions in insurance (ACIFA) request a delay to allow the industry to adapt and for the people of Ontario to be well-informed. A threat to the industry and consumers Many Ontarians could travel abroad without suitable…

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Insurance 

Manulife uses the behavioral economics of investment

by Writing May 17, 2019 10:15 Photo : Freepik Investment management Manulife draws on behavioural economics in the context of an initiative to help advisors keep their clients invested in volatile markets. In partnership with the consulting firm BEworks, Manulife provides advisors with a box of tools to enable them to better understand the behavior of investors. Catherine Milum, responsible for sales of wealth management for the division of wealth management and assets in Canada of Manulife, says that the advisers know that to stay invested during periods of market…

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Insurance 

Compensation flood : the French have a system that works

by Writing May 17, 2019 09:30 Flood waters in Ste-Marie-de-Beauce, Saturday, April 20, 2019 | Photo : Denis Méthot While some of the rivers that have overflowed this spring are starting to return to their bed, the claims fall in insurers and insurance restoration specialists are already hard at work to restore the homes flooded. The firm Aon, which compiles statistics on disasters on a weekly and monthly basis, estimated that the damage caused by flooding in Ontario, Quebec and New Brunswick will exceed hundreds of millions of dollars. Of…

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Insurance 

What You Need to Know When Switching Car Insurance Companies

Financial advisors recommend comparing car insurance quotes at least every two to three years. If you’ve found a significantly lower rate on car insurance premiums while keeping all the coverage you want and need, there are a few steps you should follow to ensure a smooth, trouble-free transition to your new coverage. When should I consider switching car insurance? If you’ve kept your car and insurance policy for several years with no claims, but have seen your premiums continue

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Insurance 

The results in damage insurance, of Desjardins suffer losses in the first quarter

by Writing 16 May 2019 13:30 Photo : Jean-Philippe Bourgoin The sector of damage insurance, of Desjardins group recorded a net deficit of $ 81 million ($M) in the first quarter of 2019, compared to a surplus of$ 26 Million in the same period of 2018. The difficult weather conditions, contributing to the increase in the frequency of claims explain the fall in net income. It was, however, offset by the increase in net premiums, ” said Desjardins. Weather conditions to blame “The difficult weather conditions of this winter and…

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Insurance 

A reinsurer tests the technology of portable equipment in life reinsurance

by Writing 16 May 2019 11:30 Photo : rawpixel PartnerRe has launched a pilot project using the technology of the portable devices (such as watches connected) in order to explore the possibility of using the data it will collect in the area of risk underwriting, in partnership with the firm’s connected health dacadoo. “The pilot project will allow PartnerRe to collect real-time data on the health and well-being as well as on concrete experience in order to provide its customers around the world, information in the field of health, allowing…

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Insurance 

Falling profits in all of the reinsurance business of Munich Re

by Frédérique De Simone May 16, 2019 09:30 The reinsurer Munich Re has posted a profit of 633 million euros (M€) during the first quarter of 2019, a decline of just under€ 200 Million compared to net income of 827 Million euros recorded in the corresponding quarter of the previous year. The reinsurer argued that the loss of basic and higher expenditures for claims were prevented, however, to reproduce the results of the first quarter of 2018, which were practically immune from major losses. Organic growth “Munich Re has started…

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