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News
It???s time to rebrand critical illness insurance
1+ hour, 41+ min ago (920+ words) On its 43rd anniversary, this key health insurance product has outgrown its name Put simply, critical illness insurance delivers a predetermined lump sum payment when an insured is diagnosed with a specified eligible medical condition. The product has evolved dramatically since…...
Deals: Blue Cross buys StanCorp’s voluntary benefits business
4+ mon, 2+ day ago (419+ words) And, multiple investments and acquisitions by private equity, miners Blue Cross Life Insurance Company of Canada will buy the Canadian voluntary benefits business of StanCorp Financial Group Inc., the insurer announced. Blue Cross expects the transaction to close later this…...
Insurers' expectations of sales channels are unclear: CCIR
6+ mon, 1+ week ago (553+ words) Insurers’ expectations of sales channels are unclear: CCIR The Canadian insurance industry needs to get better at picking responsible distributors, managing conflicts of interests and training agents on product knowledge to ensure they follow the fair treatment of customers guidance,…...
FSRA continues to explore title protection harmonization
10+ mon, 1+ week ago (373+ words) With Ontario’s title protection in effect for more than three years but no recent action on title protection from other provinces, the Financial Services Regulatory Authority of Ontario (FSRA) says it continues to work on harmonization. “FSRA is actively working…...
FSRA life licence renewal delays cause some to lapse
9+ mon, 2+ week ago (819+ words) Agents need to renew early and ensure their documentation is in order Licensing delays at Financial Services Regulatory Authority of Ontario (FSRA) have frustrated Ontario life agents for months. Understaffing and long processing times at FRSA have led to some…...
Survey finds affordability, lack of trust, barriers to buying life insurance
10+ mon, 3+ week ago (680+ words) Nearly two-thirds of uninsured Canadians don’t plan on buying a policy soon Over two-fifths (42%) of Canadians don’t have life insurance or aren’t sure if they are covered, according to a survey released by online insurance company PolicyMe on Wednesday. Among…...
FSRA steps up sanctions of life and health agents
9+ mon, 4+ week ago (561+ words) Regulator flags 22% rise in agent misconduct reports filed by insurers, MGAs The Financial Services Regulatory Authority of Ontario (FSRA) stepped up sanctions imposed on life and health agents in 2024-25, while also receiving 22% more reports of misconduct, it said in a…...