Insurance Portal

2 days ago | insurance-portal.ca | Kate McCaffery

A new publication from U.S. nonprofit associations, LIMRA and Life Happens, the 2025 Insurance Barometer Study, has found that young adults generally think the cost of an insurance policy is significantly more than its actual price.

2 days ago | insurance-portal.ca | Kate McCaffery

Canada Life Reinsurance, a wholly owned subsidiary of Great-West Lifeco Inc., announced changes to its business strategy June 25, saying it plans to cease doing new business in its U.S. traditional life mortality risk reinsurance line of business. The announcement says the company plans to redeploy those resources to increase the resources it has dedicated to the structured reinsurance market.

3 days ago | insurance-portal.ca | Marie-Ève Martel

No less than 80 per cent of the new drugs introduced between 2018 and 2023 in Organisation for Economic Co-operation and Development (OECD) member countries are available in Canada, according to the ninth annual Meds Entry Watch report published by the Patented Medicine Prices Review Board (PMPRB). Based on this metric, Canada ranks fourth among OECD countries. The PMPRB monitors the prices of patented medicines sold in Canada and publishes analyses on pharmaceutical trends.

3 days ago | insurance-portal.ca | Kate McCaffery

According to the Labour Force Survey (LFS) compiled by Statistics Canada, the number of Canadians who were active members of a registered pension plan (RPP) grew between 2022 and 2023. Notable among their findings is the fact that membership in defined benefit (DB) pension plans increased 4.2 per cent. Overall, the number of Canadians who were active RPP members similarly grew 4.2 per cent to more than 7.2 million, while employment growth came in at 3.8 per cent during the same period.

4 days ago | insurance-portal.ca | Kate McCaffery

The Financial Services Regulatory Authority of Ontario (FSRA) is imposing a $25,000 administrative penalty on Murteza Mohamedali, along with conditions on Mohammedali’s license, after the life insurance and accident and sickness insurance agent escalated his case to the Financial Services Tribunal and won the right to remain licensed – subject to a number of stringent conditions.