While telematics is being used primarily in the auto insurance field, there has also been many advances in body metrics hardware over the past several years. In most instances, these wearable monitors collect information such as heart rate, physical activity and calories burned. In the not too distant future, there may be telematics applications for …
Continue Reading …Online insurance sales threaten advisors
More and more Canadians are choosing online channels to obtain product information and indeed purchase their insurance. BMO Life, ScotiaLife Financial and Manulife Financial (Affinity Markets) are seeing tremendous growth as online insurance sites become more mainstream. Financial advisors who sell insurance will need to work harder to prove their value to clients and demonstrate that …
Continue Reading …Ruling on credit card surcharges is more than ‘smallenfreuden’ for retailers
Nearly 3 years after the Competition Bureau filed an application with the Canadian Competition Tribunal, a decision on the issue of credit card merchant fees and how retailers will be permitted to respond, may be imminent. Will Canadian retailers be allowed to impose a surcharge when certain credit cards are presented by the consumer? Will they be allowed …
Continue Reading …Help! I don’t own a car but need insurance
Cardholders often assume that credit card car rental insurance will cover them for damages to third parties (people or property). In fact, Collision Damage Insurance (CDW) or Collision/Loss Damage Insurance (CLDI) offered by credit cards only covers the rented vehicle. In addition, CDW and CLDI do not cover losses to property stolen from the rented vehicle itself. While third party liability …
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