2011 extras
Sun Life aims for diversification
In terms of net segregated fund sales, Sun Life Financial’s sales results for the first nine months of 2011 plunged dramatically to $16 million from $555 million for the same period in 2010. Gross sales for Sun Life during the first nine months were $790 million compared to $1.16 billion […]
Strategies and ongoing management
Whether clients should use target date funds more for education or retirement is a matter of opinion. One school of thought suggests they’re better for use in retirement planning, given the longer time horizons. The other, suggests they’re more suitable for education savings, since the need arrives at relatively fixed […]
Spam: Federal government clarifies new rules
The federal government has outlined some of the measures that will be contained in its new anti-spam legislation. The Norton Rose law firm (formerly Ogilvy Renault) discussed the contents of the draft regulations in a recent report, and The Insurance and Investment Journal has obtained a copy. It is not […]
RSA acquires travel insurance distributor etfs
RSA bought out etfs, one of the largest travel insurance and health insurance distributors in Canada, in mid-June. The companies, which had been partners for about a decade, collectively write almost $100 million in travel insurance premiums and serve over 1 million customers. RSA Travel Insurance Inc. acquired etfs to […]
Specialty drugs squeeze plans
As patents expired, generic drugs reined in private plans’ costs in 2010. Generic drug price reform introduced in a few provinces last year also helped control costs. However, group plans are being pressured by costly specialty drugs. Drug expenses are constantly increasing, but at a slower pace. The two largest […]
“Exceptional value” should be a strong selling point for insurers
If not for insurance, there’d be no planes in the air, no cars on the road and no skyscrapers on the skyline. Have you made this clear to your clients and business partners and to the public? All insurers should view promoting the exceptional value of insurance as their number […]
Disability: guaranteed renewable booming
Guaranteed renewable disability insurance was the growth driver in disability insurance. This product, designed for self-employed and blue-collar workers, propelled premiums and policies upward in the first quarter, countering the lacklustre performance of other products. Traditional noncancellable policies favoured by professionals continued to dominate in force, yet growth stagnated. The […]
What provisions do you need to look for in an E&O policy?
Advisors should take a close look at key provisions in their errors and omissions plans to ensure that they are adequately protected in case of potential claims, explains Joanna Reid, vice president, consumer practice with Marsh Canada, who outlined some of these provisions during a presentation at CIFPs annual conference […]
What needs to be documented?
Documentation is an advisor’s best tool to protect against errors and omissions claims, but what needs to be documented? Joanna Reid, vice president, consumer practice with Marsh Canada outlined some key information that advisors should be preserving in their client files during a presentation at CIFPs annual conference in June. […]
Increased risk management for guaranteed withdrawal benefit products
Ottawa has prescribed more rigorous rules for segregated fund reserves. Funds with guaranteed withdrawal benefits have responded by putting an emphasis on risk management. The Office of the Superintendent of Financial Institutions (OSFI) sounded the alarm after the commercial paper and high risk mortgage debacles of 2007, and the liquidity […]
