Covid Updates

The information contained in this document is for general information purposes only and subject to change at any time from each insurer without notice.

Select your insurance provider from the list below to read the latest developments.

  • Aviva

    Aviva

    Last update:
    April 8 2020

    Auto Insurance Financial Relief Measures

    "All personal auto insurance premiums will be frozen at renewal, meaning customers that are renewing won’t see any increases to their auto insurance premiums during this time. This applies to policies with renewal dates of June 15, 2020 or later (customers who have had significant losses or traffic violation activity may not be eligible for this benefit).

    As a reminder, we also have options for customers whose driving situations have changed. We want to ensure we’re helping customers who #StayHome. If they’re no longer using their vehicles, Endorsement 16, newly crowned our #StayHome endorsement, can be applied, and for those whose usage has changed, their mileage and usage information can be amended to reduce their premiums.

    If the customer still requires use of their vehicle, but is no longer using it to commute to work/school during the pandemic, or is driving significantly fewer kilometers over this period, you can offer to adjust the applicable policy information."

    Business Interruption

    N/A

    Payment Relief for Your Customers

    1. Temporarily suspending policy terminations for non-payment of premium.
    2. Temporarily suspending NSF fees.
    3. Working with customers who are currently facing policy termination in order to defer payments, as appropriate.

    Declaration of Emergency Endorsement

    They are following the Declaration of Emergency wording found in our personal and commercial insurance property policies

    Vacant Properties

    "Aviva has a vacancy exclusion in their wording and recommend that you contact your broker if you expect to exceed the vacancy period during the Declaration of Emergency period."

    Mid Term Cancelations or Policy Changes

    "Aviva has given this a great deal of consideration and have decided that they will not consider mid-term premium reductions on our Liability policies. Stock and/or equipment limit may be reduced mid-term as per our usual business practice. Please contact your broker so that we can find a solution for your situation.

    For auto, for the time being, there will be no mid- term premium rebates, coverage suspensions or coverage adjustments on fleets with the 21B endorsement. Coverage reductions and adjustments on any IRCA, Garage and scheduled fleets without the 21B endorsement are acceptable as per our usual business practice. My customer has been financially impacted by the pandemic and can’t afford the insurance. Instead of reducing their coverage, they want to cancel their policy entirely. Is this considered cancelling short-rate? Aviva will review these on a case-by-case basis and will make accommodations for vulnerable customers that have been financially impacted by COVID-19. Please contact your broker to discuss."

    E-Signatures & Electronic Communications

    Will Aviva accept e- signatures during the COVID-19 pandemic? E-signatures may be used for electronic documents that contain all of the same information as approved paper forms. This includes:

    1. New business applications for insurance
    2. Payment authorization forms
    3. Policy cancellation requests by the insured customer(s)

    E-signatures can’t be used for other requests such as:

    1. Any policy endorsement that restricts coverage and requires a signature, including but not limited to the Excluded Driver endorsement, the Property Damage Reimbursement endorsement or manuscript wordings
    2. Any request to change or remove an insured customer’s name or to change or remove a mortgagee, lien holder or loss payee"

    Other

    "Customer is using their vehicle to deliver food and medical supplies and is getting compensated for it. Are they covered by their automobile policy? Typically this would not be covered by a standard personal auto policy. However, specifically during the COVID-19 pandemic, if a customer is now driving their own vehicle to deliver food or medical supplies to those in need, we’ll underwrite these on a case-by-case basis. Contact your broker and we’ll do our best to find a temporary solution. In addition, carrying passengers for compensation is not included in this temporary allowance. My customer spends six months out of the year in the U.S. and takes their vehicle with them. Because of COVID-19, they had to change their travel plans and fly back to Canada urgently, leaving their vehicle in the U.S. They will exceed the maximum time (180 days) that their vehicle is allowed outside of Canada. What should we do?

    For existing customers only, we can accommodate vehicles outside of Canada for longer than 180 days. Please call your broker and we’ll work with you to find a solution."

  • CAA

    CAA

    Last update:
    April 9 2020

    Auto Insurance Financial Relief Measures

    As Per April 9 Press Release: Offering a 10 per cent rate reduction for new and renewing home and/or auto insurance policy holders. This rate reduction will be available starting soon in Ontario and is valid for the duration of a 12-month policy term.... The reduced rates can be combined with additional ways to adjust coverage and payment plans to reflect reduced driving behaviour such as:

    1. Reducing annual mileage amounts on policies
    2. Insurance adjustments for multiple cars that aren't being driven
    3. CAA MyPace · The 10% rate reduction for home and auto insurance will be available at the time of renewal and for new customers. This is valid for the duration of the 12 month policy term.

    Any existing customers looking for rate reduction the 10% reduction will be coming soon.

    Business Interruption

    N/A

    Payment Relief for Your Customers

    CAA has made the decision to suspend all non-payment cancellation notices on automobile insurance coverage at this time. In addition, CAA Insurance Company does not, and has not prior to COVID-19, charged an NSF fee on the 1st NSF, so customers do not need to worry about an additional fee on their first NSF payment.

    Declaration of Emergency Endorsement

    The Declaration of Emergency Endorsement extends the termination or expiry date of a Personal Property policy when a Canadian public authority declares an “emergency”. This coverage is now available to CAA policyholders if their policy is not renewed by the expiry date or they have a claim in the period. The policy period will be automatically extended, or the effective date of the cancellation will be suspended, until the “emergency” is over, plus the lesser of:
    30 days; or the total number of days the “emergency” order was in effect; and is subject to a maximum of 120 consecutive days. Policyholders will still be asked to pay the additional premium for the extra policy period that is provided under this endorsement. Please note that this extension of coverage does not apply to Automobile insurance policies.

    Vacant Properties

    N/A

    Mid Term Cancelations or Policy Changes

    Our brokerage will work with CAA clients to explore their options such as:
    CAA MyPace™, Canada’s first pay-as-you-go auto insurance program Updating annual mileage from commuter to a lesser, pleasure only If a household has two cars, they could share one car and take driving coverage off the other, leaving it as comprehensive coverage only

    E-Signatures & Electronic Communications

    N/A

    Other

    N/A

  • CHUBB

    CHUBB

    Last update:
    April 23 2020

    Auto Insurance Financial Relief Measures

    N/A

    Business Interruption

    N/A

    Payment Relief for Your Customers

    Chubb personal lines customers, we’ve instituted flexible premium payment options, contact your broker.

    Declaration of Emergency Endorsement

    For our commercial clients, Chubb will commence a voluntary 60-day hold on cancellation and non-renewal for all of its US and Canada insureds that advise that they cannot pay their premiums due to events related to coronavirus except where a longer period may be required by regulatory order. We will continue to bill premiums but will not cancel for non- payment and no late fees will be assessed during this hold. The hold will commence on March 23, 2020. Commercial insureds may contact us directly or reach out to their brokers to let us know that they will be requesting this accommodation.

    Vacant Properties

    N/A

    Mid Term Cancelations or Policy Changes

    N/A

    E-Signatures & Electronic Communications

    N/A

    Other

    • Provisions for additional living expenses have been temporarily extended for those clients in the midst of homeowner claims where repairs have been delayed due to the pandemic.
    • Our commitment to fighting COVID-19 spans the globe and began at the earliest days of the outbreak.
    • In January, Chubb committed pro-bono clinical trial insurance coverage to support Chinese firms developing a vaccine.
    • More recently, we pledged $10M to pandemic relief efforts around the world.
    • Here in North America, Chubb has donated nearly 100,000 masks to support healthcare workers in New York City and Toronto.

  • Echelon

    Echelon

    Last update:
    April 21 2020

    Auto Insurance Financial Relief Measures

    Customers whose driving activity and mileage has been reduced due to COVID-19 can request to reduce the mileage associated with their policy, for a premium reduction of up to 15%.
    We have also implemented flexible, online payment options, and automatic coverage for our customers who volunteer to deliver food or supplies (excluding coverage for paid deliveries such as UberEats).

    Business Interruption

    N/A

    Payment Relief for Your Customers

    Customers who are no longer using their vehicles due to COVID-19 can request to remove all but comprehensive coverage from their policy, so long as their vehicle is safely parked and stored. This coverage adjustment will result in a premium reduction of up to 80%

    Declaration of Emergency Endorsement

    N/A

    Vacant Properties

    N/A

    Mid Term Cancelations or Policy Changes

    In addition to these relief measures, which we hope will support individual customers who have been impacted by COVID-19, Echelon will also refrain from introducing all planned rate increases for the next three to six months, representing savings between 12% and 15% for our customers.

    E-Signatures & Electronic Communications

    N/A

    Other

    N/A

    Note

    Upon request, these relief measures will be applied to active policies retroactively for March 15, 2020, or the date of the most recent policy change, whichever occurred sooner.

     
  • Economical

    Economical

    Last update:
    April 24 2020

    Auto Insurance Financial Relief Measures

    As per their April 9 Press Release: Flexible payment options, including payment deferrals and waived NSF fees Payment plans adjustments to update the method or frequency of payments.
    Reduction of auto insurance premiums by limiting coverage or reducing the number of kilometres driven to support those with significantly changed vehicle use.
    No impact to premiums if customers temporarily use their cars or homes differently, such as efforts to support community goodwill or migrate to remote work.

    Business Interruption

    Economical’s business interruption forms provide coverage only when there is interruption to the customer’s business caused by direct physical loss of or damage to building(s), equipment, or stock. Without direct physical loss or damage, there is no coverage.

    Payment Relief for Your Customers

    Economical will be flexible with regard to circumstances affecting our customers, including cancellations, non-payments, and lapsing renewals...COMMERCIAL LINES RATING: We’re taking a proactive approach to support our customers during this time. For the immediate future due to the emergency situation, we have amended our Commercial Insurance rating approach to take into account the tough circumstances many commercial customers are facing. PERSONAL LINES: Handling of Personal Lines Property Non-Renewals Until further notice, we will actively review all personal lines property policies that are set to non-renew due to underwriting reasons such as non payment. We will make every effort to stay on risk for another term.

    Declaration of Emergency Endorsement

    The Emergency Endorsement — Extension of Termination or Expiry Date is attached to most of our Business Insurance policies and extends the policy period if there is an emergency declared and there is a direct effect or impact on the insured, the insured site or insured property, or the operations of Economical or its broker in the declared emergency area.

    Where the Declaration of Emergency wording applies, Economical will not cancel or lapse any of our business insurance policies while the endorsement is in effect, up to a maximum of 120 days. Premiums will be pro- rated for the additional time at expiring rates.

    Vacant Properties

    Economical recognizes that in some provinces, many businesses have been ordered to close due to the State of Emergency. During the State of Emergency, they will not consider locations unoccupied or shut down if they still contain enough insured property to conduct customary business (except for removal of perishable inventory or stock), as long as the owner is visiting the property a minimum of every seven days and proactively maintains a prudent level of care, control, and maintenance of the property — this includes adequately maintaining security systems and utilities.

    Mid Term Cancelations or Policy Changes

    For customers who are facing a material and substantial drop in business revenues due to the closures brought on by COVID-19, Economical will endorse the policy mid-term to reflect the up-to- date information as long as the policy term is not expiring within the next three months. For fleets, they will make mid-term adjustments to accommodate vehicle and coverage deletions. NON OWNED AUTO: For customers looking to offer delivery services due to the impact of COVID-19, Economical will work to accommodate them on a case-by-case basis, please contact your broker

    E-Signatures & Electronic Communications

    In addition to our existing guidelines for accepting electronic signatures and audio signatures, Personal and Commercial Insurance have agreed to accept either a scanned copy or a photograph of any form that requires an insured's signature

    Other

    Reading-in off-premises equipment coverage:
    Effective immediately, if a customer is insuring their equipment with Economical, and the form under which it is insured does not provide coverage when an employee takes equipment necessary to work off-site to another location, we will extend existing coverage to include that property up to a limit of $5,000 per occurrence. This coverage is being added at no extra charge. Any loss which occurs will be settled as if the property was still at the premises insured on the policy. Policy deductible, terms, and conditions still apply.

  • Facility Association

    Facility Association

    Last update:
    April 1 2020

    Auto Insurance Financial Relief Measures

    N/A

    Business Interruption

    N/A

    Accounts Payable for Brokers to Insurer

    Facility Association will support reasonable extensions beyond the 30- calendar day requirement on a case-by- case basis. Please contact Broker.

    Payment Relief for Your Customers

    N/A

    Declaration of Emergency Endorsement

    N/A

    Vacant Properties

    N/A

    Mid Term Cancelations or Policy Changes

    N/A

    E-Signatures & Electronic Communications

    E-signatures, audio signatures and scanned documentation are acceptable.

    Other

    N/A

  • Gore Mutual

    Gore Mutual

    Last update:
    April 24 2020

    Auto Insurance Financial Relief Measures

    To provide a premium reduction to our personal auto insurance customers, they will receive a simple one-time payment equivalent to 20% of three months premium. The payment will be sent by cheque and will have no detrimental impact to future premiums or coverage. All in-force auto customers as of Thursday, April 9, 2020 will automatically receive the payment.

    Business Interruption

    On the vast majority of our commercial lines policies, there is no coverage for business interruption losses relating to COVID-19. However, a limited number of hospitality customers with unique extensions to their policies may be eligible for coverage subject to the terms and conditions of the policy wording. Please contact your broker is you believe you have a loss and we can discuss.

    Payment Relief for Your Customers

    Payments: Customer Flexibility
    Gore has suspended all cancellations for non- payment and NSF fees until Thursday, April 30, 2020. After that, we'll continue to monitor the impact of the pandemic and explore new flexible payment options on a case-by-case basis including payment deferral without penalty. We will provide additional information to our brokers on those policies with suspended cancellations for non-payment. Effectively today Thursday, April 9, all personal and commercial cancellations at the customer’s request will be on a pro rata basis. Short rate fees will not apply.

    Declaration of Emergency Endorsement

    N/A

    Vacant Properties

    Commercial Customers: Vacant Premises
    With many businesses temporarily closed, we will not consider any business properties vacant or unoccupied if they have been mandated to shut down because of COVID-19. Of course, we urge you to remind your customers that we expect them to visit their property weekly and maintain a reasonable level of care and maintenance including utilities and security systems. We'll maintain this position until further notice.

    Mid Term Cancelations or Policy Changes

    N/A

    E-Signatures & Electronic Communications

    To support brokers that are working remotely, we have enabled fully remote payments through ClearPay Standard. This gives your team the ability to send premiums and remittance advice digitally, eliminates the need to physically sign cheques, reduces the risk of fraud, creates operational efficiencies and reduces settlement delays.

    Other

    Pandemic Exclusion
    Our priority is to continue providing comprehensive, well-priced insurance coverage for your brokerage clients. As a result of recent events and to provide clarification within our commercial coverage, we will be introducing an explicit pandemic exclusion in the near future.

    Home Customers: Home Office
    With many of our customers unexpectedly working from home, we'll provide personal liability and business property coverage up to $5,000 on all existing personal property policies. We will not charge any additional premium and coverage will be effective immediately until Friday, July 31, 2020.

  • Heartland

    Heartland

    Last update:
    April 24 2020

    Auto Insurance Financial Relief Measures

    Use of Personal Vehicle for COVID-19 related activity

    No impact to coverage if policyholders are temporarily using their vehicles in support of COVID-19 community goodwill (e.g. delivering food, products). Clients will be eligible to receive premium reduction of up to 75% per month, on average, when they safely park and store their vehicle until coverage is reinstated. We will waive the minimum 45 days required to use the OPCF 16 to suspend coverages.

    Business Interruption

    N/A

    Payment Relief for Your Customers

    FARM PROPERTY

    Effective March 26, 2020, any renewals that are outstanding will not be subject to the February 1, 2020 rate changes as previously communicated on December 23, 2019. Inflation factor will continue to be applied. New business rates remain unchanged as per the December 23,2020

    COMMERCIAL PROPERTY

    Effective March 26, 2020, any renewals that are outstanding will not be subject to receive any rate increases, unless risk characteristics change. Inflation factor will continue to be applied. New business rates will remain unchanged.

    Payment Deferral Plan

    Policyholders impacted by COVID-19 and facing financial difficulties should complete the payment deferral form and submit to billings@heartlandfarmmutual.com for consideration. Effective Mar 23, 2020, we are suspending non-payment cancellations, and waiving fees for NSF until April 30, 2020.

    Reminder notices will continue to be sent out.

    Declaration of Emergency Endorsement

    Due to the impact of the declared emergency, we would encourage you to submit any relevant changes in risk profiles so they can be re-rated to reflect a more accurate lower premium (e.g. changes in annual/daily mileage).

    Vacant Properties

    We will not consider commercial buildings where business is temporarily halted or closed due to COVID-19, as vacant and/or unoccupied. Secondary Homeowners and Comprehensive Rental policy, we will waive the occupancy and inspection requirements during COVID-19. Vacant or Unoccupied Premises

    Mid Term Cancelations or Policy Changes

    N/A

    E-Signatures & Electronic Communications

    N/A

    Other

    Claims Process Changes

    Cash settlements are being extended to clients who prefer to have repairs suspended or completed post COVID-19. We will waive the loss of use policy limit for clients who are experiencing repair delays due to repair facility disruption and/or supply-chain challenges. Supporting communities where our broker partners, clients and employees live and work, Heartland has donated 3000 reusable medical masks (PPE) to eight hospitals across Ontario.

  • Howick Mutual

    Howick Mutual

    Last update:
    Mar 31 2020

    Auto Insurance Financial Relief Measures

    The Mutuals are following the IBC principles and consideration is not being given to premium rebates. However, the Ontario Mutuals are continually monitoring FSRA announcements, competitor strategies and Government response, and will adjust strategies appropriately.
    We will keep you updated as the situation evolves.

    Business Interruption

    N/A

    Payment Relief for Your Customers

    With respect to payments, we are going to allow for a 2 week deferral on monthly PAC payments. Keeping in mind that we only withdraw on the 1st, 8th, 16th and 24th, the 2 week deferral would be to the nearest regular payment date. This deferral will be done on a policy by policy basis upon request of the broker and we will review any requests outside of our position above on a case by case basis upon request of the broker.

    Declaration of Emergency Endorsement

    N/A

    Vacant Properties

    N/A

    Mid Term Cancelations or Policy Changes

    We will accommodate requests to amend policies mid-term as a result of changed operations or risk exposure due to the COVID-19 pandemic ie: stock/inventory, business receipts, etc.

    E-Signatures & Electronic Communications

    N/A

    Other

    N/A

  • Intact

    Intact

    Last update:
    May 5 2020

    Providing relief to your commercial clients

    We have various relief measures in place to support our customers, depending on their unique circumstance.

    Immediate Relief Offers:

    • Reductions in Receipts/Revenue mid term on CGL coverage
    • Stock Limit changes
    • Comprehensive only/changed Rating Classes on parked Commercial Auto vehicles
    • Private passenger vehicles on IRCA are eligible for the same premium relief options as available for Personal Auto customers

    Renewal Relief:

    • Holding terms on roughly 1/3rd of our renewals at expiring levels for a 6-month period
    • Lowered and tempered annual rate increases will be provided to the balance of our portfolio

    Payment Relief:

    • Working with you on missed payments and direct bill payment deferrals to accommodate customers’ abilities to pay.



    April 24 2020

    For all Intact Insurance brokers in Ontario
    Update: Relief Measures for Your Customers

    As the COVID-19 situation continues to evolve, our priority remains caring for employees and being there for you and your customers, as well as the communities where we live and work when they need us most. Since announcing our customer relief measures in March, we have provided relief to more than 220,000 customers through our payment flexibility and premium adjustment measures, resulting in more than $88M in relief for customers. We thank you for your considerable support and effort in making this happen.

    Enhancing customer relief measures

    Given the depth of the evolving crisis and your feedback, we are increasing our offering to ensure that personal automobile customers are receiving the relief they need. We are now enhancing our current offer to reflect the following:

    • The minimum relief provided will be 15% on all adjustments to kilometres driven;
    • We will accomplish this by applying the kilometres driven adjustment and then adding an additional premium reduction of 15%. All other relief measures remain unchanged;
    • All requests received on or after April 14, 2020 will be processed with the updated adjustment;
    • Our teams will amend all previously processed transactions, whether processed by you or sent through the online form, starting April 14, 2020, to apply the 15% of premium relief;
    • We will continue to support you through processing all online forms received from customers whose driving habits have changed;
    • As was previously the case, changes to kms driven and the discount applied from April 14 onward will be automatically reverted three months after the initial request, requiring no further action by you. For any request coming directly to you, please be sure to follow the process provided to ensure your customers’ policies are captured and automatically reverted;

    Useful information – A revamped Personal and Commercial Lines FAQ

    We have improved the Frequently Asked Questions document to make it more user friendly for you. Note that this document will be updated on an ongoing basis between each bulletin to provide you with the latest information for your Personal and Commercial Lines customers.

    In the Community

    Given the unprecedented challenges COVID-19 presents to our communities, we’re allocating the Intact Foundation’s $1.4M match of the 2019 United Way Employee Campaign towards the United Way COVID-19 relief and recovery programs - supporting the most vulnerable, including people and families living in poverty. This funding will be in addition to our previously announced $2M COVID-19 relief and recovery efforts, bringing our total response to $3.5M.

    Thank you for your continued support. We will continue to communicate with you as the situation evolves.


  • McKillop Farm Mutual

    McKillop Farm Mutual

    Last update:
    April 20 2020

    Auto Insurance Financial Relief Measures

    Farm Mutuals are following the IBC principles and consideration is not being given to premium rebates. However, the Ontario Mutuals are continually monitoring FSRA announcements, competitor strategies and Government response, and will adjust strategies appropriately.
    We will keep you updated as the situation evolves. While the filed automobile rates haven’t changed, policyholders have the option to endorse their policy to recognize any change of use of their vehicle to reduce their premium amount (e.g. class of use, shortening commute distance, taking road coverage off vehicles).

    Business Interruption

    N/A

    Payment Relief for Your Customers

    Non-Sufficient Funds (NSF)

    We will be temporarily waiving NSF fees until further notice.

    Payment Options

    We will continue to work with you in an effort to find alternate arrangements for policyholders with financial circumstances impacted by Covid‐19 and who are experiencing difficulties with payment of premium.

    Declaration of Emergency Endorsement

    N/A

    Vacant Properties

    The government of Ontario has ordered non-essential businesses to close for the duration of this State of Emergency. As long as the order to stay closed is in place, we will not consider the business location as vacant, unoccupied or shut down if: it still contains enough insured property on the premises to conduct business (except removal of perishable stock).
    The business owner is visiting the premises a minimum of once every 7 days and is proactive in maintaining a level of care to the premises.

    Mid Term Cancelations or Policy Changes

    N/A

    E-Signatures & Electronic Communications

    N/A

    FAQs About Changing Automobile Use

    How would you manage an existing policyholder who volunteers at local grocery stores, making deliveries of groceries to those not leaving their homes?
    We will continue to provide coverage for clients volunteering to deliver groceries or other necessities.

    How would you manage existing policyholders who make deliveries for restaurants for compensation?
    No coverage would be provided, as this is not a class of business we have ever covered (e.g. pizza delivery, Uber Eats, Skip the Dishes).

    How would you manage existing policyholders who volunteer to make deliveries for restaurants for no compensation? What if they are being compensated mileage only?
    We would continue to provide coverage for clients making deliveries on a volunteer basis, even when receiving compensation for mileage.

  • Portage Mutual

    Portage Mutual

    Last update:
    April 28 2020


    🔴 Click here for the FAQ: COVID-19 pdf.

    Auto Insurance Financial Relief Measures

    N/A

    Business Interruption

    To clarify, our business interruption wordings do not cover losses as a result of the COVID-19 pandemic.

    Payment Relief for Your Customers

    We have agreed to support our broker partners and customers by implementing the following directives:

    1. Temporarily suspending NSF fees
    2. Temporarily suspending policy terminations for non-payment of premium
    3. Working with customers who are currently facing policy termination in order to defer payments, as appropriate.

    Encouraging customers that have issues to contact us by email at: accounts.mb@portagemutual.com

    Declaration of Emergency Endorsement

    N/A

    Vacant Properties

    Our property wordings exclude loss of damage at locations that to the insured’s knowledge have been vacant, un-occupied or shut down for more than 30 days.

    Many businesses have been closed as a result of government mandated closures which began on March 16, 2020. Until further notice, we will not consider those businesses that have been mandated to shut down because of COVID-19 to be vacant or un-occupied.

    It is our expectation that while a business is closed, that the insured or another competent individual will attend the premises at least twice a week to confirm that there has not been any damage.

    Other loss prevention measures that should be considered include:

    • Locking all doors and windows to secure the premises
    • Activating burglar and fire alarms
    • Considering turning off the water main and draining pipes, unless the buildings is protected by a sprinkler system
    • Maintaining heating
    • Removing cash and other valuables from the premises
    • Storing high target stock in a separate locked area or moving it away from windows to make them less visible from the outside
    • Maintaining exterior perimeter lighting
    • Maintaining security cameras and video records

    Mid Term Cancelations or Policy Changes

    N/A

    E-Signatures & Electronic Communications

    N/A

    Other

    N/A

  • RWAM Insurance

    RWAM Insurance

    Last update:
    April 23 2020

    RWAM is pleased to offer Plan Sponsors premium relief during these challenging times.

    RWAM Insurance Administrators cares about the health of our Plan Sponsors and Plan Members during these difficult times. We also recognize the financial impact that this pandemic is having on businesses across the nation.

    Effective May 1st, we will be reducing dental premiums by 50% which will be reflected on the May invoice. This reduction will also remain in effect for June premiums. This applies to all groups with insured dental benefits.

    This approach will ensure that Plan Sponsors maintain dental coverage for critical emergency dental claims as well as ongoing orthodontic coverage (if applicable to the plan). It will also maintain the accuracy of your claims experience reports which provide an important historical picture of claiming patterns.

    Please note the following:
    • For groups that have elected to defer their renewal date, the reduction will be calculated based on current dental premiums.
    • Groups that participate in the Profit Participation Plan (PPP), which is a form of refund accounting, will also receive the 50% reduction in May and June dental premiums.
    • Groups that have suspended or terminated the dental benefit will not receive a future credit.

    As always, RWAM is here to help. Should you have any questions please contact RWAM Group Benefits Advisor with any questions.

  • RSA

    RSA

    Last update:
    April 20 2020

    Auto Insurance Financial Relief Measures

    We recognize that driving patterns have changed radically in the past month. We are helping to pass on the savings from the reduction in auto claims to customers in the form of reduced car insurance premiums to align to their current driving behaviours. Your customers will see reduced auto insurance premiums if they are driving or commuting less or who are no longer using their vehicles because their circumstances have changed due to COVID-19. Savings will vary depending on individual driving habits

    Business Interruption

    N/A

    Payment Relief for Your Customers

    This is an unprecedented time where many of your customers are struggling financially. We want to do our part to ease that burden by offering flexible payment options to help support those customers. Options may include payment deferrals for those that have been affected through illness or job loss as a result of this pandemic.

    Please remember that another way RSA is offering further financial support is through automatic waiving of Non-Sufficient Funds (NSF) fees during the COVID-19 crisis, effective April 1, 2020. (Please note that financial institutions may still charge a separate fee for NSF).

    Declaration of Emergency Endorsement

    N/A

    Vacant Properties

    N/A

    Mid Term Cancelations or Policy Changes

    N/A

    E-Signatures & Electronic Communications

    N/A

    Other

    As a way to step up for our local heroes serving their communities, we have made provisions for customers who are temporarily using their vehicle for delivery (e.g. an employee of a pharmacy, restaurant, grocery store, or as part of an app-based food delivery service) during the COVID-19 crisis to be covered under their existing policy without an impact to their car insurance premium.

    To reduce any further financial hardship on your Personal Insurance customers, we are working through plans to temper our current rate approach for both auto and property. We will look to dampen the impact of our planned rate actions for your customers. As plans are finalized, we will reach out to you to communicate those specifics.

  • Western Assurance

    Western Assurance

    Last update:
    May 5 2020

    PREMIUM RELIEF

    Effective July 1, 2020 to September 30, 2020, WA will be implementing a rate cap for both Auto and Property renewal premiums*.


    AUTO INSURANCE
    Private passenger automobile renewals will have an overall impact of 0% and will not increase over prior term.
    • This renewal premium cap does not apply to risks with a new claim or conviction in the prior term or to any endorsement premiums

    PROPERTY INSURANCE
    Homeowners will experience a rate increase of no more than 10%
    • Limited Sewer Back-Up, Waterproof Coverage™ and Earthquake are included in this capping structure
    • This does not apply to risks with a new claim in the prior term
    We remain committed to our brokers and customers during this time and are proud to provide support to those who have been impacted. We are working with urgency and pace to have these changes implemented into our system as quickly as possible; if the system is not accurately reflecting these changes for your impacted customer, please contact your underwriter.

    *This timeline may be extended past September 30, 2020 depending on how the COVID-19 pandemic progresses.

    Auto Insurance Financial Relief Measures

    We recognize that driving patterns have changed radically in the past month. We are helping to pass on the savings from the reduction in auto claims to customers in the form of reduced car insurance premiums to align to their current driving behaviours. Your customers will see reduced auto insurance premiums if they are driving or commuting less or who are no longer using their vehicles because their circumstances have changed due to COVID-19. Savings will vary depending on individual driving habits

    Business Interruption

    N/A

    Payment Relief for Your Customers

    This is an unprecedented time where many of your customers are struggling financially. We want to do our part to ease that burden by offering flexible payment options to help support those customers. Options may include payment deferrals for those that have been affected through illness or job loss as a result of this pandemic.

    Please remember that another way RSA is offering further financial support is through automatic waiving of Non-Sufficient Funds (NSF) fees during the COVID-19 crisis, effective April 1, 2020. (Please note that financial institutions may still charge a separate fee for NSF).

    Declaration of Emergency Endorsement

    N/A

    Vacant Properties

    N/A

    Mid Term Cancelations or Policy Changes

    N/A

    E-Signatures & Electronic Communications

    N/A

    Other

    As a way to step up for our local heroes serving their communities, we have made provisions for customers who are temporarily using their vehicle for delivery (e.g. an employee of a pharmacy, restaurant, grocery store, or as part of an app-based food delivery service) during the COVID-19 crisis to be covered under their existing policy without an impact to their car insurance premium.

    To reduce any further financial hardship on your Personal Insurance customers, we are working through plans to temper our current rate approach for both auto and property. We will look to dampen the impact of our planned rate actions for your customers. As plans are finalized, we will reach out to you to communicate those specifics.

  • South Easthope Mutual

    South Easthope Mutual

    Last update:
    April 28 2020


    🔴 Click here for the Covid Refund Memo pdf

    Auto Insurance Financial Relief Measures

    Farm Mutuals are following the IBC principles and consideration is not being given to premium rebates. However, the Ontario Mutuals are continually monitoring FSRA and Government announcements and will adjust strategies appropriately.


    Specifically, South Easthope will provide auto insurance relief in the following ways:
    • Changing driver classes if possible (ie. no longer commuting to work)
    • Reducing coverage on vehicles that are not being driven at all during the pandemic.
    • Waiving additional charges for people who are temporarily volunteering in their community (ie. Delivering groceries, medications to vulnerable community members)

    Business Interruption

    Business interruption coverage responds only after an insured peril (ie. Fire, Wind) causes direct damage to insured buildings that results in a financial loss to the business. Rates for this coverage are based only on these types of loss.

    There is no coverage for business interruption losses due to COVID-19 or any other form of a pandemic.

    Payment Relief for Your Customers

    If a policyholder member cannot make a payment due to COVID-19

    • All policies will be dealt with on a case-by-case basis.
    • For policies on a monthly, we will hold one payment at a time (we will need to be notified for each payment that needs to be held).
    • We recognize that every situation is different and there is need for more than one option to catch up on the missed payments.

    Some Examples might be…

    • To add extra payments (twice a month) until the amount is paid off
    • To divide the missed payments amount across remaining payments
    • To double the monthly payments until the amount is paid off
    • To add one extra payment to pay the missed payments in one shot

    Declaration of Emergency Endorsement

    N/A

    Vacant Properties

    We will not apply the vacancy exclusion within the policy during the time of the pandemic on the assumption that business owners take reasonable steps to check on their property on a regular basis.

    Mid Term Cancelations or Policy Changes

    We have temporarily suspending NSF (non-sufficient fund) fees being charged by South Easthope Mutual now up to June 30,2020.
    If the policy gets to registered letter status for non-payment (this would only come up if there has been no communication with the policyholder after non-payment – see payment relief section above) an extra 30 days will be given prior to the Registered Letter of cancellation being sent. The member will only be charged the premium that is owing on the date the payment is due. Agents and Brokers are encouraged communicate between the policyholder member and company to avoid Register Letter Status for non-payment.

    Policy cancellations requested a policyholder member as a result of the COVID-19 pandemic, will be calculated pro-rata as opposed to short rate, up to June 30, 2020.

    E-Signatures & Electronic Communications

    These are our preferred methods of communication over the course of the pandemic. We will accept scanned copies of any form that requires a policyholder's signature. We will continue to accept hard copies of signatures by mail or courier.

    Other

    We will do our best to work with the policyholder and come up with a solution that works for both them and South Easthope Mutual.
    Policy cancellations requested a policyholder member as a result of the COVID-19 pandemic, will be calculated pro-rata as opposed to short rate, up to June 30, 2020.

  • Travelers

    Travelers

    Last update:
    April 24 2020

    Auto Insurance Financial Relief Measures

    Stay-at-Home Auto Premium Credit Program, which will provide a 25% credit on one month’s premium to our Canadian personal auto customers.
    This credit is automatic and there is no action required by you or your customers. It’s our way of supporting our customers, and we hope it helps ease some of the financial burden they may be experiencing at this time. Customers will receive the credit automatically either on a future bill or via a mailed cheque.
    Separately, we are extending auto coverage for customers whose temporary job responsibilities include using their personal vehicles to make food, grocery, pharmacy and medical supply deliveries. This does not include vehicles participating in a commercial delivery network.
    We will keep you updated as the situation evolves.

    Business Interruption

    Business Interruption coverage is triggered when a policy holder suffers a loss of income due to direct physical loss, or damage to covered property at its location or another location. It does not cover: loss of income due to market conditions; a slowdown of economic activity; or a general fear of contamination. Nor does the policy provide coverage for cancellations, suspensions and shutdowns that are implemented to limit the spread of the coronavirus. If there has been direct physical loss or damage to property, the policy may contain exclusions. A common exclusion is for losses resulting from a virus or bacteria, which would include coronavirus.

    Payment Relief for Your Customers

    Specifically, we will suspend cancellation and non-renewal of coverage due to nonpayment through May 15, 2020. We will not charge non- sufficient funds (NSF) fees during this period, providing customers with extra time if needed to pay their premiums without risking cancellation. We will work with impacted customers and brokers on a on a case-by-case basis to provide billing support and address billing relief requests due to COVID-19. We will also observe all directives issued by federal, provincial or local authorities.

    Declaration of Emergency Endorsement

    We did not adopt the formal IBC Declaration of Emergency endorsement in our personal and business insurance property wordings. We will consider extensions on a case-by-case basis due to COVID-19.

    Vacant Properties

    Travelers recognizes that many of our customers have been forced to close or conduct only limited operations due to the unprecedented government orders issued in response to COVID-19. For the purpose of applying vacancy, unoccupancy or shut down limitations in our commercial property policies, Travelers has decided not to count the days that a building is vacant, unoccupied, or shut down solely because of a governmental order due to COVID-19 affecting the use or occupancy of the described premises or the area immediately surrounding the described premises. This direction will continue until the earlier of the following:
    • The date on which the government order affecting the use or occupancy of the described premises or the area immediately surrounding the described premises is lifted; or
    • June 1, 2020.

    Please note that whether a building is vacant, unoccupied or shut down and the application of coverage depends on the facts and circumstances of each claim or loss, all applicable policy provisions, including how the applicable policy defines “vacant” or similar terms, and any applicable law. It should also be noted that the decision to provide temporary relief from the application of vacancy, unoccupancy or shut down restrictions does not extend to any other term or condition, and this direction does not amend, or otherwise affect, the provisions or coverages of any insurance policy issued by Travelers. Nor is it a representation that coverage does or does not exist for any particular claim or loss under any such policy.

    As of right now this direction remains in place until June 1, 2020. Travelers will continue to monitor the situation and communicate any decisions to extend this direction beyond June 1, 2020.

    Mid Term Cancelations or Policy Changes

    We will be thoughtful and consider each request individually. For any request, we will require the appropriate documentation.

    E-Signatures & Electronic Communications

    We continue to support electronic signatures Customers can return the forms by mail or email using either a scanner or taking a picture with a cell phone and emailing them to you.

    Other

    1. For restaurants that were not doing delivery before but now will be as a result of their restaurant being closed, Travelers will cover those operations and will add Non-Owned Auto at no additional charge If not already on the policy.
    2. If your customer’s vehicle is stored/located outside of the province or country for more than six consecutive months due to COVID-19, please contact your underwriter to discuss and provide all the necessary details. We’ll review on a case-by-case basis
    3. Q: If a customer is temporarily working from home due to COVID-19, is coverage for Incidental Office Use or the Home Business endorsement required to be added to the policy?
      A: No additional coverage or endorsements are needed. Temporarily performing office work from home due to COVID-19 restrictions, when a policyholder normally works in another location, is not considered business use. The Incidental Office Use or Home Business endorsements do not need to be added to the policy, and additional premium does not apply.

    The Stay-at-Home Auto Premium Credit Program is among several initiatives we have launched to provide relief during this challenging time. These include suspending cancellation and non-renewal of coverage through May 15. And we have pledged $5 million to COVID-19 relief efforts to assist families and communities.

  • Wawanesa

    Wawanesa

    Last update:
    April 9 2020

    Auto Insurance Financial Relief Measures

    Previous communications have indicated that brokers can "Endorse the policy mid-term to reflect updated information used for rating."

    Business Interruption

    Generally, Commercial insurance policies and traditional Business Interruption policies do not offer coverage for Business Interruption or supply chain disruption due to a pandemic such as COVID-19. Business Interruption only responds if physical damage occurs.

    Payment Relief for Your Customers

    1. Non-Sufficient Funds: We realize this situation is evolving rapidly and some of our policyholders will have their personal household finances impacted. To assist, we will be waiving Non- sufficient Funds Fees (NSF) until further notice. We anticipate that we will do so until at least May 25, 2020.
    2. Cancellation of Insurance Policies: We will make every attempt to avoid policy cancellations for non-payment of insurance premiums until further notice. We anticipate that this will be until at least May 25, 2020.
    3. Deferral of Monthly Premium Payments: Some policyholders may have financial difficulty over the coming months. If a policyholder is having an issue, please call your broker to consider payment options. We will support the deferral of payments on a case by case basis.
    4. Premium Payments: Some policyholders may have premiums due in a lump sum at renewal. Wawanesa will provide for flexible payment options upon request.

    Declaration of Emergency Endorsement

    The Declaration of Emergency Endorsement extends the termination or expiry date of a Personal Property or Commercial policy when a Canadian public authority declares an “emergency”. This coverage is now available to our policyholders if their policy is not renewed by the expiry date or they have a claim in the period.

    The policy period will be automatically extended, or the effective date of the cancellation will be suspended until the “emergency” is over which will be the lesser of: a) 30 days; or b) the total number of days the “emergency” order was in effect; c) subject to a maximum of 120 consecutive days. Policyholders will still be asked to pay the additional premium for the extra policy period that is provided under this endorsement.

    Please note that this extension of coverage does not apply to Automobile insurance policies.

    Vacant Properties

    Property is considered vacant if the insured has no plans to return. We will not consider the following instances as vacant.

    1. Commercial buildings where business is temporarily halted or closed due to the COVID-19 pandemic,
    2. Seasonal or Secondary Dwellings where policyholders are restricting their movements in response to the COVID-19 pandemic and will therefore not be visiting the dwelling as often as they normally would. Policyholders should still be aware of restrictions regarding water damage due to freezing during the regular heating season when they are away from their property for more than 4 consecutive days. Please refer to the applicable policy wordings.

    APRIL 9: As the economic impact of the pandemic continues, building owners and property managers need to be monitoring their vacant or unoccupied premises and addressing concerns as they arise.

    Mid Term Cancelations or Policy Changes

    If a policyholder’s business is greatly impacted by the COVID-19 crisis and revenues are expected to substantially reduce, we will endorse the policy mid-term to reflect updated information used for rating.
    If a policyholder’s business is required to park their commercial vehicles due to the COVID-19 crisis our underwriters support our customers that wish to delete or amend coverage during this time.

    E-Signatures & Electronic Communications

    Wawanesa accepts electronic signatures.

    Other

    1. For policyholders who have purchased our Commercial General Liability coverage, this policy form has no pandemic exclusion. Coverage will respond to allegations of negligence related to the pandemic, subject to the terms and conditions of the policy wording.
    2. We will allow them to use their personal vehicles for the purposes of delivering food and other products. This period began March 16th and will be valid until further notice.


TRAVEL


  • Destination Travel Group

    Destination Travel Group

    Last update:
    May 4 2020

    IMPORTANT - OPTION AFTER DEPARTURE

    May 4 2020
    Good morning Valued Partner,

    COVID-19 continues to evolve and change the products we offer our customers. Unfortunately, effective May 4th, 2020, until further notice, The Destination: Travel Group Inc. will no longer be allowed to sell our after departure option for all our Travelling Canadians that are already at their destination. This includes all extensions and new policies on the following products:
    • Destination: Travel Health Plans
    • Destination: Travel Leisure Plan
    • Destination: International Student Insurance for Canadian Students studying abroad

    We are still able to offer coverage under these products to all eligible Canadians that have not left their province of residence at the time of application. However, we would like to remind you that COVID-19 is currently excluded from the coverage, pursuant to the travel advisory from the Canadian Government to avoid all non-essential travel outside of Canada.

    Should you have any further questions, please contact The Destination: Travel Group Inc.




    April 23 2020

    Dear Valued Partner,

    During these unprecedented times, our top priority remains the health and safety of our employees, partners, and customers and making sure we provide the support you need.

    We recognize that, as a result of COVID-19 and the advisories put in place to protect Canadians, their travel plans may have been impacted. As opportunities to travel still remain uncertain, Manulife are extending coverage under our Destination: Travel Health Plans and Destination: Travel Leisure Plan multi-trip plans. All policies with an effective date between July 1, 2019 and March 13, 2020 will be automatically extended for 3 months free of charge. After this revised expiry date, your customers will be able to apply for a new policy. For example, if the policy expiry date is May 15, 2020, we will be extending this date to August 15, 2020.

    You can find the endorsement for the clients attached. We ask that you forward this document to them as soon as possible. Your customers should keep the endorsement with the original documents they received when they initially purchased their annual policy, as both documents will serve as confirmation of the insurance coverage they have with us.

    Important Note: Policies underwritten by Cumis General Insurance Company are not eligible for this extension!

      Destination: Travel Health Plans (Policy numbers beginning with DTHXXXXXX) and
      Destination: Travel Leisure Plan (Policy numbers beginning with DTLXXXXXX) multi-trip plans sold with Cumis General Insurance Company are not eligible for this extension. Customers would need to purchase a new policy.

    As new developments unfold, we continue to closely monitor the Coronavirus outbreak.

  • TuGo Travel

    TuGo Travel

    Last update:
    April 28 2020

    April 28 2020

    Airline refunds for flights to, within or from the United States (US)
    The US Dept of Transportation requires that all US and foreign airlines with flights travelling to, within or from the US provide a refund to travellers when the airline cancels the flight.

    For example, if a traveller has a flight to New York with Air Canada, and the airline cancels the flight, the traveller is entitled to a full refund on their airfare.

    Airline refunds for flights travelling within or scheduled to leave the European Union (EU) The European Commission requires that any airline with flights travelling within or scheduled to leave Europe to provide a refund to travellers when the airline cancels the flight. For cancelled flights into Europe, refunds are available for all European airlines. This applies to EU member countries and the non-EU members that are part of the Schengen zone (Switzerland, Liechtenstein, Norway and Iceland).

    For example, if a traveller has a flight from Montreal to Paris with Air France, and the airline cancels the flight, the traveller is entitled to a refund on their airfare. But if a traveler had booked the flight with Air Canada and that flight was cancelled, Air Canada is not required to issue a refund under the EU’s Air Passenger Rights, although they might choose to do so. If the airline does not issue a refund, the insured may then claim for the non-refundable expenses.

    How does this impact Trip Cancellation & Trip Interruption coverage?

    • These expenses aren’t covered under our policy since they are refundable by the airline. TuGo’s Trip Cancellation and Interruption Insurance covers non-refundable pre-paid travel costs.
    • Since travellers are entitled to refunds when these flights are cancelled by the airlines, they must contact the airline directly.
    • Unfortunately, not all airlines are following these obligations, so the traveller may have to escalate a complaint with their carrier.

    What if the traveller cancelled their flight?
    If the traveller cancels the flight themselves, then these airlines are not obligated to provide a refund.

    Remember!
    Travellers can’t submit a claim if they’re receiving a refund or a credit voucher from airlines, cruises and other travel providers. Making your customers aware of these ineligible expenses will save them time, or from disappointment if their claim is denied.


    April 23 2020

    Dear partners,

    While coverage remains the same for existing policies purchased before April 3, 2020, TuGo won’t provide coverage for COVID-19 (Coronavirus) related expenses for new Visitors to Canada Emergency Medical Plans and Student Medical policies purchased on or after April 3, 2020.

    These amendments apply to the following products:   • Traveller - Visitor to Canada
      • Traveller - Visitor to Canada Holiday Package
      • Visitors to Canada Platinum
      • Student Medical



    Policy extensions for policies sold before April 3, 2020
      • Policy extensions for policies with no lapse in coverage, sold before April 3, 2020 via Partner Express or Customer Service don’t require an endorsement since COVID-19 is covered.
      • If a policy has lapsed, it will be considered a new sale, therefore, COVID-19 won’t be covered.

    New policies sold on or after April 3, 2020 via Partner Express, Consumer Express or TuGo’s Customer Service team
    Travellers will automatically receive the endorsement indicating no coverage for COVID-19 with their policy wording, when the fulfillment is emailed.
    If you’re providing a printed copy instead, you must download the appropriate endorsement and include it with fulfillment.

    We thank you for your continued support and we’re wishing you all the best in health and business.

    TuGo


    April 22 2020

    Dear partners,

    As we all know, COVID-19 has brought unprecedented changes to personal and professional livelihoods; it’s also brought with it an unprecedented number of refund requests. Please know that the TuGo team is doing our best to respond as quickly as possible.

    In response to all of these requests, we have some good news to share—customers will now be given the option of a Travel Insurance Voucher with bonus, in place of a partial or full refund! 

    Which voucher or refund applies to my customer?

    • For a partial refund or voucher to apply, travellers have already travelled and returned home early, with days remaining on their policy.
    • For a full refund or voucher to apply, travellers must have cancelled their trips and their Emergency Medical policies haven’t gone into effect.
    • To be eligible, customers:
      1. Must be covered under a Single Trip policy or an extension on a Multi Trip Annual policy. 
      2. Haven’t made a claim or intend to make one. 
      3. Are requesting a voucher under the same terms & conditions that a refund can be applied for (details found under “Refunds” in the policy wording).

    The value of choosing the voucher over a refund

    By choosing to apply for vouchers instead of refunds, your customers will benefit from:

    • An added minimum of 10% more days to their future policy! Bonus days are based on the number of days the traveller has remaining on their Single Trip policy or Multi Trip Annual extension. We’ll round up the bonus day, offering your customer at least 1 extra day free of charge.
    • Any applicable administration fees will be waived.
    • Less paperwork involved compared to refunds: travellers won’t have to provide proof of return documentation, like they would for a refund. 
    • Customer retention: Although refunds are available, opting for vouchers would not only benefit travellers, but also help retain them as your customers. Lock them in with pre-COVID-19 pricing—and retain the associated compensation, too. It’s a win-win!

    How to apply

    For a voucher: 
    Direct your customers to the Travel Insurance Voucher page (https://travellers.tugo.com/voucher) to read about the benefits of the voucher, eligibility requirements, and other important information.

    For a refund:


    We know it’s not easy in these challenging times, so we thank you for your continued support.


    Wishing you all the best in health and business,
    TuGo


  • GMS

    GMS

    Last update:
    N/A

    Trip Cancellation Plans

    Travel Suppliers Offering Vouchers/Credits as Refunds

    Our Trip Cancellation plans provide coverage for costs clients can’t recover when trips are cancelled. When it comes to travel suppliers offering vouchers or credits for the total value of a cancelled trip, our policy considers this a full refund. With a full refund available in voucher/credit form, an insurable loss hasn’t occurred and a claim isn’t payable under the policy. With that said, clients may be eligible for a premium refund in these situations. Call our broker toll-free number 1.855.821.6881 for more information.

    Client disputes over refunds and vouchers/credits should be directed to their travel service provider, transportation carrier, or the Canadian Transportation Agency.

    COVID-19: Exceptions and support to help your clients keep their coverage


    The COVID-19 pandemic continues to disrupt life and leave clients feeling uncertain about the future. During times like these, we believe coverage is more important than ever. We’re committed to providing support and solutions to make sure the individuals and families covered under our health and group benefits plans can maintain their coverage through this challenging time. If you have clients concerned about retaining their plans, please visit our updated COVID-19 page. It now includes Group and Individual Health FAQs related to options available to help ease the financial stress clients might be experiencing and accommodate their coverage needs. You can also contact us or encourage your clients contact us directly.

    Immigrants & Visitors to Canada (VTC) Changes and Rates effective April 24th.

    VTC rates and product changes were being postponed in light of the global spread of COVID-19. Since then, we've been monitoring the situation closely and will be making the following changes effective April 24th.
    • New rates will be implemented.
    • Any expenses related to COVID-19 will be excluded.

    Please note eligibility and stability remain unchanged.

    How do these changes affect existing policies and extensions?
    While coverage remains the same for existing policies purchased before April 24th. GMS will not provide coverage for COVID-19 related expenses for new VTC policies sold on or after April 24th.

    Any clients wishing to extend their existing policy and have coverage for COVID-19 related expenses included must purchase an extension before April 23rd 11:59 P.M. CST. Any extensions sold after the 24th will be considered a new sale and coverage for COVID-19 expenses will be excluded.

    We thank you for your patience and understanding during this time.



MUTUAL FUNDS


  • IA-carlington-investments

    IA Clarington

    Last update:
    May 4 2020

    Optimal Resiliency in Times of Uncertainty

    Research-driven guidance on how to enhance personal resilience and more effectively navigate the adversity brought on by the COVID-19 crisis.
    Optimal Resiliency in Times of Uncertainty is an 1 hour webcast featuring Dr. Robyn Hanley Dafoe who is an expert on resiliency and workplace wellness. Here’s only a few of the topics covered:
    • Building resiliency.
    • Why having someone in your corner is more important than ever.
    • Cognitive nimbleness vs brittle thinking.
    • Turning distress into positive stress.
    • How to “show up” and get through something.

    Presenter: Dr. Robyne Hanley Dafoe, expert on resiliency and workplace wellness.

  • CI Funds

    CI Funds

    Last update:
    April 24 2020

    Canadian and U.S. equity markets continued to fluctuate as investors weighed the possibilities of slowly easing lockdown restrictions and a quick economic recovery against the fallout of plummeting oil prices.

    • On April 20, U.S oil prices fell below zero for the first time in history, ending the day at -$37.63. With so much of the economy paused, the absence of demand has left a lack of storage facilities for soon-to-be-delivered oil. As expected, last week’s OPEC production cut was not enough to rectify this.
    • Canada’s annual inflation rate fell to a near five-year low in March as gasoline prices plunged.
    • The U.S. announced weekly jobless claims of 4.427 million, bringing total job losses to over 26 million in the last five weeks, wiping out all gains since the Great Recession.
    • The U.S. House of Representatives approved a $484 billion coronavirus relief bill to fund small businesses and hospitals; this brought the country’s total crisis response funds to almost $3 trillion.
    • The number of confirmed COVID-19 cases worldwide surpassed 2.6 million. Europe continued to slowly loosen restrictions in certain regions, as did some southern U.S. states.

    Should any of this change my views on my investments?

    The market’s recent turbulence has been difficult emotionally for many investors, and we should be proud that we have followed our long-term plan. Going forward, we will continue to see numbers like those above; some may be positive for the economy and others negative, but it is important to see them as data that are constantly changing, rather than as indicators to overhaul your portfolio.

    To emphasize the benefits of staying invested in both good times and bad, I thought I would share the chart below. Regardless of what the market does in the days, weeks, months and years ahead, history has shown that staying the course has reaped benefits over the long run. My advice is to continue to do so as developments such as this week’s drop in oil prices play out.




MORTGAGE DEFERRALS



Canada Emergency Wage Subsidy (CEWS)

GOVERNMENT SUBSIDY


  • Canada Emergency Wage Subsidy (CEWS)

    Canada Emergency Wage Subsidy (CEWS)

    Last update:
    April 28 2020

    As a Canadian employer whose business has been affected by COVID-19, you may be eligible for a subsidy of 75% of employee wages for up to 12 weeks, retroactive from March 15, 2020, to June 6, 2020.
    This wage subsidy will enable you to re-hire workers previously laid off as a result of COVID-19, help prevent further job losses, and better position you to resume normal operations following the crisis.
    Government program link

  • Canada Emergency Business Account - CEBA

    Canada Emergency Business Account - CEBA

    Last update:
    N/A

    How to apply for the government's $25-billion CEBA business loan program

    Here's everything you need to know about the Canada Emergency Business Account

    The federal government has rolled out a series of measures to help Canadian businesses and families weather the COVID-19 pandemic. Here’s everything you need to know about the Canada Emergency Business Account, or CEBA:

    What is the CEBA?

    The Canada Emergency Business Account is part of the federal government’s loan and loan-guarantee program for small and medium-sized businesses affected by the COVID-19 pandemic.

    ​ The $25-billion program opened to applicants on April 9, and provides a $40,000 loan that is interest-free until Dec. 31, 2022.
    • How to get the Canada Emergency Response Benefit — $2,000 every four weeks for up to 16 weeks • How to get your tax refund as quickly as possible amid the COVID-19 crisis • Can I be laid off during the coronavirus crisis?
    The loans are intended to help businesses meet their financial obligations amid shutdowns of non-essential businesses to slow the spread of the virus.

    CEBA loans are backed by the government, and up to 25 per cent of each loan, or $10,000, is eligible for forgiveness if the rest is paid on time (by Dec. 31, 2022). For those unable to repay at that time, the loan can be converted into a three-year term loan at an interest rate of five per cent.

    “Every entrepreneur who banks with us wants to see their business through this challenging time so they can focus on their ambitions for growth,” Laura Dottori-Attanasio, group head of personal and business banking at Canadian Imperial Bank of Commerce, said Monday. When the program opened to applications last week, she said it was clear from conversations with small business owners that there was an “urgent need for this new source of funding.”

    Who qualifies?
    Canadian-operated businesses that have federal tax registration and a payroll in the 2019 calendar year of between $25,000 and $1.5-million, verifiable by Canada Revenue Agency documentation (a T4 summary of remuneration paid, or T4SUM), are eligible.

    How do you apply? Qualifying businesses apply online through the bank or financial institution that holds their primary business operating account.

    Applicants need their T4SUM document from the Canada Revenue Agency, as well as their 15-digit CRA business number or employer’s account number. Bank account information is also required.

    Banks such as Toronto-Dominion Bank, Bank of Montreal and Canadian Imperial Bank of Commerce require those applying to have online business banking set up.

    ​​​ Who doesn’t qualify?
    Businesses that were behind on their payments for an existing loan on March 1 of this year are not eligible for CEBA loans.

    Sole proprietors who use a personal chequing account while operating in the name of a business are not eligible.

    Businesses owned by a government body or an elected official cannot receive a CEBA loan.

    Most union, charitable, or religious organizations are not eligible under the CEBA program.



  • Canada Emergency Commercial Rent Assistance (CECRA)

    Canada Emergency Commercial Rent Assistance (CECRA)

    Last update:
    April 24 2020

    Please be advised that there is an update within the below link for businesses regarding a new program that is about to launch, called Canada Emergency Commercial Rent Assistance (CECRA)::
    Canada Emergency Commercial Rent Assistance

    More details are expected to be released in the next few days.