Designed to protect all Canadians from financial crisis due to a critical illness
TORONTO, Nov. 5, 2020 /CNW/ – Following the Ontario Budget, Insurance Bureau of Canada (IBC) issued this statement:
IBC applauds the Ontario government for its 2020 Budget – Ontario’s Action Plan: Protect, Support, Recover.
“During these uncertain times, the Ford government continues to show its adaptability and support for auto insurance consumers,” said IBC Ontario Vice-President Kim Donaldson. “Today’s budget removes barriers for insurers who are committed to offering the innovative products that consumers are accustomed to receiving from other sectors. In addition, the budget fosters innovation by allowing insurers to bring new products to market that help drivers control their premiums, while also acknowledging a growing demand for a fully digital experience and removing restrictions on usage-based insurance products.”
IBC and its members are especially pleased to see the government’s commitment to improving the consumer experience for Ontario drivers through measures like allowing a fully digital auto insurance experience for Ontario drivers. The government is also showing its resolve to crack down on fraudulent actors in the auto insurance space, building on the momentum they’ve created with a review of the towing system.
About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.
P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 128,000 Canadians, contributes $9.4 billion in taxes and has a total premium base of $59.6 billion.
For media releases and more information, visit IBC’s Media Centre at www.ibc.ca. Follow us on Twitter @InsuranceBureau or like us on Facebook. If you have a question about home, auto or business insurance, contact IBC’s Consumer Information Centre at 1-844-2ask-IBC.
SOURCE Insurance Bureau of Canada
TORONTO _ Brookfield Business Partners LP has signed a deal to buy the remaining interest in Genworth MI Canada Inc. that it does not already own in an offer that values the company at about $3.8 billion.
Brookfield owns a 57 per cent stake in the residential mortgage insurance company.
Under the terms of the agreement, Brookfield will pay $43.50 per share for the shares it does not hold
Genworth shares closed at $35.58 on the Toronto Stock Exchange on Friday.
The deal requires approval by a two-thirds majority vote by shareholders, as well as the approval by a simple majority of votes cast by minority shareholders, which excludes Brookfield.
Genworth MI Canada rebranded earlier this month and has been operating under the Sagen MI Canada banner.
Understanding the impact of your communication style and others is just the starting point of a good relationship.
There is another essential factor that needs to be considered. What motivates the other person, or in other words, what is it they want that is making them behave the way they do? Words, body language, and tone of voice are simple mechanisms that individuals might use to get what they want!
This is the first in a series of posts to explain the most common personality language. DISC is the foundation of understanding for virtually every human personality type. The science of DISC is proven and trusted all over the world as the benchmark in understanding human behaviour. Understanding your communication style is the initial step towards better relationships.
DISC stands for:
A plethora of suppliers represents DISC’s elements under a variety of aliases, including but not limited to colours, temperatures, seasons, bunnies and tigers and a variety of other pseudonyms.
DISC’s elements are common to all personality types and vary in intensity from one person to another, no matter what they are called.
It is essential to understand that every personality has all of these elements in it to varying degrees. In other words, some will be highly dominant and low compliant, with a very low steady style and a moderate influencing style.
Understanding how the various elements of the DISC blend with each other is extremely important.
Hence, you should avoid referring to someone as HIGH DOMINANT or LOW COMPLIANT since all of the 4 elements will come into play in various situations.
In future posts, we will break down each behaviour element together and explore how these elements of the DISC blend and how to best communicate with the various styles.
Edited for ILSTV
By Shawn Jeffords and Liam Casey
THE CANADIAN PRESS
TORONTO _ Health-care workers, businesses and non-profits could receive liability protection against COVID-19-related lawsuits under legislation proposed by the Ontario government Tuesday, but critics said the bill would result in extra protection for long-term care providers who failed residents during the pandemic.
Attorney General Doug Downey said that if passed, the proposed law would ensure that anyone making an “honest effort” to follow public health guidelines while working or volunteering would not be exposed to liability.
He noted, however, that the bill would not prevent lawsuits against those who willfully or through “gross negligence” endangered others during the pandemic.
“This is not going to help anybody who’s a bad actor, people who ignore the public health guidance,” he said. “This is really to help those who are doing things in good faith.”
The government said health-care workers and institutions, front line retail workers, charities, and non-profits would be covered by the bill. The legislation would also cover coaches, volunteers and minor sports associations, and would be retroactive to March.
In terms of long-term care providers, Downey said the bill would cover those who saw “inadvertent transmission” of COVID-19 in their facilities.
“Those who act in good faith and make honest efforts will receive a level of protection,” Downey said.
“But this will not help people who are being sued for wrongful death, assault and battery, or failure to provide necessities, or fraud or charter violations, or trespass to the person.”
The Ontario Long-Term Care Association, which represents more than 70 per cent of nursing homes in the province, has been asking for such measures for months, CEO Donna Duncan said.
The proposed law will not absolve any provider of responsibility when it comes to issues of gross negligence, she said.
“Liability protection is a necessary measure to stabilize and renew Ontario’s entire long-term care sector,” Duncan said in a statement. “Without it, many insurance companies will cease coverage, as they have already begun to do, putting homes across the province at risk and jeopardizing their expansion and renewal.”
COVID-19 has killed 1,907 long-term care residents since the pandemic began. There has been a recent surge of cases in the second wave, with 87 homes currently experiencing outbreaks.
Dozens of homes across the province face numerous lawsuits, including several class-action suits with unproven claims in the hundreds of millions of dollars.
The Insurance Bureau of Canada said it supports the legislation, which it called balanced and responsible.
Steve Kee, a bureau spokesman, said the legislation illustrates the government’s support for entrepreneurs and hardworking Ontarians as they focus on getting through the COVID-19 threat.
“Today’s legislation is intended to protect the good actors _ those who follow public health guidelines _ from certain civil liability,” he said in a statement.
“As tabled, it would not protect bad actors against other legal consequences, including criminal charges.”
Michael Smitiuch, a personal injury lawyer who represents several families who are suing long-term care homes after losing loved ones to COVID-19, criticized the government’s proposed law.
“Losing a loved one during this pandemic because of mistreatment and lack of attention is already devastating to families, but having them die in vain will be even worse if they can’t seek justice for them,” Smitiuch said.
He said the government is essentially “raising the bar” on negligence to a “high degree of negligence.”
“This will create an unnecessary layer of protection for bad actors,” Smitiuch said. “These changes will help insurance companies save money and will hurt victims and their families.”
NDP Leader Andrea Horwath said she was shocked by the new bill and that if a long-term care home failed in its duty to protect a resident, it should be liable.
“This bill protects the for-profit long-term care homes,” she said. “It protects the backside of the Ford government, but what they never did was protect the seniors in long-term care.”
Green party Leader Mike Schreiner said he is concerned that the bill will protect the “bad actors” the government says will still be held accountable.
“Negligent long-term care homes do not deserve a ‘Get out of Jail Free’ card for the lives that were stolen on their watch,” he said in a statement.
By Liam Casey
THE CANADIAN PRESS
Ontario’s long-term care homes are having trouble securing liability insurance for COVID-19, a situation that could force some of them to close, a group representing more than 70 per cent of the province’s homes says.
The Ontario Long-Term Care Association says its homes are being offered new policies without a key provision: coverage for infectious diseases, including COVID-19.
The association has now turned to the federal government for help, saying potential claims could place a burden on the homes’ finances, and loans could be denied over the lack of coverage.
“We’re operating in good faith trying to do the best we can, but we really do need help with this and we need help urgently,” said CEO Donna Duncan.
Previously, long-term care homes received $5-million to $10-million coverage for damages or claims related to infectious diseases, Duncan said.
Now, insurance companies are including a “contagious disease exclusion endorsement” in policies for the homes, she said.
COVID-19 and a laundry list of other diseases are specifically not covered, according to one policy obtained by The Canadian Press.
The Insurance Bureau of Canada, which represents the majority of insurance companies in the country, said coverage for losses related to communicable diseases is available in certain policies but isn’t easy to get.
“In an active pandemic environment, coverage for pandemic-related financial losses would naturally be extremely difficult to obtain,” spokesman Steve Kee said.
“This situation is akin to trying to get fire insurance when your house is on fire.”
Insurance companies continue to provide general liability insurance to long-term care homes, he said.
Duncan said some homes have already lost liability insurance against infectious diseases when they renewed their deals this summer.
Without that coverage, some homes are being refused loans and lines of credit, she said.
In one case, Duncan said, a small home that hasn’t had a single case of COVID-19 sought to build a new facility to get away from the three- and four-bedroom wards that have proven to be like death traps if COVID-19 got in. The facility needed financing to get the project going, but was denied money from a lender because of the lack of liability insurance for COVID-19, she said.
The lack of coverage against infectious diseases also leaves directors and members of boards personally liable to any legal action, Duncan said.
There are numerous lawsuits, including several class-action suits that have already been brought by grieving families against homes where residents died of COVID-19.
Duncan said the majority of homes have insurance renewals set for Dec. 31.
Her association has pleaded its case to the federal government in a letter sent late last week, asking Ottawa to provide a “backstop” and essentially insure the insurance companies.
“In consultation with insurers, reinsurance companies and major lenders, it is clear to us that long-term care is now essentially uninsurable for outbreaks,” Duncan wrote.
The insurance industry is open to the association’s federal government backstop idea, Kee said.
The Prime Minister’s Office referred questions to the Minister of Health, which did not answer questions about the request from the long-term care association.
A spokesman for Health Minister Patty Hajdu said the federal government will work with the provinces “to set new, national standards for long-term care that ensure the health, safety, and well-being of residents.”
In Ontario, the majority of homes are for-profit, with the remainder not-for-profit or municipally owned.
Several experts questioned whether it is appropriate for taxpayers to insure for-profit insurance companies and thereby cover any claim against long-term care homes.
Tamara Daly, the director of the York University Centre for Aging Research and Education, said taxpayers providing insurance to the long-term care industry is not workable.
“I think it would be a knee-jerk reaction to publicly fund liability insurance,” she said.
Daly and Samir Sinha, the director of health policy research at the National Institute on Ageing and a professor of medicine at the University of Toronto, said public money would be better spent fixing the long-term care home system in the province rather than fixing the insurance issues.
“If we dealt with the fundamental issues right off the beginning, if homes had enough staffing, enough PPE, they may not have been in the situation in the first place,” Sinha said.
More than 1,900 residents of long-term care homes have died from COVID-19 since the pandemic hit. The number of cases in the province’s 625 facilities are surging once again as the second wave takes hold, with outbreaks in 72 homes by mid-October.