After consulting with more than 500 advisors, the Canadian Life and Health Insurance Association is making a number of changes to its G19 guideline pertaining to compensation disclosure in group benefits and group retirement services. The proposed guideline, which was introduced nearly a year ago, would require insurers to disclose to plan sponsors the compensation paid to intermediaries for […]
Manulife Financial Corp. is making its Vitality health and wellness platform available to Canadian group benefits plan members next year. The platform, which connects with wearable devices such as smartwatches and fitness bracelets, is designed to help users make healthy choices and then rewards them with discounts and gift cards for doing so. “We believe this program will help […]
Equitable Life of Canada is introducing a fully online option for employees enrolling in group benefits plans. “Plan members can easily enter all their enrolment information, including dependant details, banking information for direct deposit of claim payments and details for coordination of benefits,” said Norma Crouse, assistant vice-president of claims and administration at Equitable Life, in a […]
Two-thirds (67 per cent) of group insurance brokers said their client base would decrease if employer-paid benefits became taxable income, according to a survey by the Canadian Group Insurance Brokers and Digital Journal Group. In February 2017, Prime Minister Justin Trudeau said in Parliament his government wasn’t planning to tax employee health and dental plans. However, the […]
Medical plan costs paid by employers are outpacing inflation, according to a new report by Aon. In Canada, however, medical cost inflation is trending down, lower than both the global and North American averages. Aon expects Canadian medical costs to rise by six per cent next year. Factored against average general inflation of 2.1 per cent in 2019, […]
The pension and retirement savings was once again the growth leader in the life and health insurance industry in 2017, according to the Canadian Life and Health Insurance Association’s annual fact book. Of the $651 billion held in employer-sponsored pension plans last year, the industry was responsible for managing $152 billion, which is up from […]
iA Financial Group is introducing an online enrolment tool for its group benefits members. The tool, which can be accessed through a smartphone, tablet or computer, allows plan members to choose coverage, designate beneficiaries and manage the information of dependants. “The online enrolment tool is an intelligent, high-performance solution that provides a simplified overall experience to employers […]
Digital human resources company Rise People Inc. is partnering with Cowan Insurance Group to launch an integrated product that includes human resources, payroll and insurance services. In December 2017, Rise People launched a national sponsorship program aimed at combining its technological expertise with advice from consultants, such as Surrey, B.C.-based Davis Benefits and Pensions Ltd. and […]
Great-West Life Assurance Co. has made three appointments to its executive team. Karrina Dusablon has joined the company as vice-president of national accounts for its plan sponsor services division. Issa Guindo has been appointed assistant vice-president of group customer data and analytics. And Derrick March has been named vice-president of business development for the group customer practice, […]
Hub International Ltd. is acquiring Ontario-based Benefit Broker Services Inc. Benefit Broker Services, which is located in Wallaceburg, Ont., is a provider of services related to employee benefits and pension plans. The terms of the acquisition weren’t disclosed. Scott Ewing, the firm’s president, and Stacey Ewing, its co-founder and owner, will join Hub Ontario, reporting […]