Most popular articles of 2019
As 2019 comes to a close, the Insurance Portal invites you to read or re-read our 10 most popular articles of the year. This year was marked by major reshufflings, the withdrawal of a controversial guideline and newcomers.
Medical or care expenses in retirement worry half of working age Canadian women
Money in retirement is worrisome for about half of working age Canadian women, who fear that they will be short on money to pay for medical or care expenses and for basic necessities.
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Canadian women concerned about expenses in retirement
An insurer fined over 3 million by FSCO
TD Bank’s four insurance subsidiaries were slapped with fines totaling $3.2 million for charging automobile insurance rates other than those authorized by the Ontario government.
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TD Insurance fined over $3 million
Sun Life realigns business…
Sun Life Financial Canada announced that it realigned its Canadian business in order to further strengthen the company’s focus on clients. A Client Experience Office was created.
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Sun life announces realignment of Canadian business
… and sees declining sales in one of its distribution networks
Sun Life Financial Canada’s focus on “quality over quantity” is what explains the decline of its career network’s sales, said its president, Jacques Goulet.
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Sun life career network sales slide
Hub reshuffles its leadership team
Several Hub Financial executives took on new roles this year.
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Major reshuffling at HUB Financial
Lifeco unveils amalgamation plan
Great-West Lifeco announced this year its plans to amalgamate its insurers into one company: The Canada Life Assurance Company. It will combine The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company and their holding companies, Canada Life Financial Corporation and London Insurance Group Inc.
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Great-West Lifeco announces amalgamation plan
An Ontario MGA enters US market
Experior Financial Group has entered the US though an agreement with a large American MGA, what the industry usually calls an Insurance Marketing Organization. The Group has set its sights on New York, Texas, Ohio, Georgia, California and Florida.
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An advisor loses license
A British Columbia independent agent lost her license to sell insurance and was ordered to pay $27,000 in fines, investigation and hearing costs for material misstatements on a life insurance application, misrepresentations to the insurer and processing an application without the client’s consent.
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Life agent fined and loses license
A controversial guideline is no more
The Canadian Life and Health Insurance Association withdrew the controversial Guideline G19 on advisor compensation for group benefits and group retirement services. The CLHIA’s president, Stephen Frank, said in an interview with the Insurance Portal that the guideline had been “misunderstood”.
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Manulife’s return to par market bears fruit
Manulife’s strategy of returning to the participating life insurance product market proved profitable. New business gained 27% in value in Q1 2019 following its par product launch in June 2018.
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