Great-West Lifeco recognized as a leader in carbon and climate risk management by CDP

Great-West Lifeco Inc. today announced that it has earned an A- (leadership) rating on CDP’s 2018 Climate Change Questionnaire, which identifies the global leaders in the management of carbon, climate change risks, and low carbon opportunities. Great-West Lifeco once again achieved the highest rating among Canadian insurance companies and was among the top seven Canadian companies.

“This achievement reflects our commitment to reporting high-quality greenhouse gas emissions data and reducing our global impact across global operations,” said Paul Mahon, President and Chief Executive Officer, Great-West Lifeco. “We’re committed to managing our environmental footprint for stronger, healthier communities across Canada.”

Throughout the reporting year, Great-West Lifeco property and asset management teams worked collaboratively toward reducing greenhouse gas emissions by implementing realistic and economically feasible projects, such as building equipment retrofits, ongoing commissioning projects, and other operational enhancements and behavioural changes.

CDP, formerly the Carbon Disclosure Project, is a global disclosure system for investors, businesses and governments to manage their environmental impacts. More than 650 investors with US$87 trillion in assets request information on climate change, water or forests through CDP. Reporting companies now represent more than 50 per cent of global market capitalization.

To view the full list of CDP scores, visit CDP.net.

About Great-West Lifeco Inc.
Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Great-West Lifeco has operations in Canada, the United States and Europe through Great-West Life, London Life, Canada Life, Irish Life, Great-West Financial and Putnam Investments. Great-West Lifeco and its companies have over $1.4 trillion in consolidated assets under administration as at September 30, 2018 and are members of the Power Financial Corporation group of companies. Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO. To learn more, visit greatwestlifeco.com.

All figures are expressed in Canadian dollars, except as noted.

SOURCE Great-West Lifeco Inc.

Saskatchewan licensees: Approved Mandatory Ethics Training Courses

Saskatchewan licensees: Approved Mandatory Ethics Training Courses

All resident Saskatchewan licensees are required to complete an Insurance Councils of Saskatchewan approved ethics course, that is at least three hours in duration. The following courses are approved by the Insurance Councils of Saskatchewan for 3 C.E. credit hours and meets the ethics training requirement.

Looking for Mandatory RIBO Ethics CE? Click Here

These courses discuss professional codes of conduct, with dilemma or scenario-based examples so licensees may spot issues and make the right choices. The aim is to help licensees make sense of what might seem like a convoluted situation and determine the ethical choice.

Insurance Councils of Saskatchewan Approved Ethics Training

Courses approved for All Classes other than Life Licensees (General) 
Ethics and the Insurance Professional Part 1 – Approved for 1 ethic hour
Ethics and the Insurance Professional Part 2 – Approved for 1 ethic hour
Ethics and the Insurance Professional Part 3 – Approved for 1 ethic hour

 

Courses approved for Life and Accident & Sickness and Accident & Sickness licensees
Life Ethics in the Insurance Industry Part 1 – Approved for 1 ethic hour
Life Ethics in the Insurance Industry Part 2 – Approved for 1 ethic hour
Life Ethics in the Insurance Industry Part 3 – Approved for 1 ethic hour

 

Courses approved for Adjuster/Adjuster Representative licensees 
Ethics Training for Adjusters Module 1 – Approved for 1 ethic hour
Ethics Training for Adjusters Module 2 – Approved for 1 ethic hour
Ethics Training for Adjusters Module 3 – Approved for 1 ethic hour

More info on ethics courses

Once you have successfully passed these courses please provide the Saskatchewan Council with documentation to support completion.

Ethics training is important and can have an impact on business, reputation, and daily office morale. You cannot afford to leave ethical decision making to chance, as one hasty action or decision by a licensee can harm an entire organization.

ICBC’s Secret “Meat Chart” for Pain and Suffering and the Actual Law

Source: Erik Magraken BC Injury and ICBC Claims Blog

As reported by the Vancouver Sun, ICBC’s top brass have handed out directives to all adjusters to withdraw settlement offers on existing claims and re-assess claims not by the law but by an internal meat chart.

Details of this secret memo are slowly coming to light and it appears ICBC has created 5 different categories for non-pecuniary damage assessment.  The first three deal with soft tissue injuries, the fourth with more serious injuries and the last with what ICBC deems to be catastrophic injuries.

I have not yet had the privilege of seeing ICBC’s full memo to their adjusters (who have been instructed to keep the details secret) but sources tell me that ICBC will be valuing pain and suffering by completely artificial criteria which run contrary to well established law.  If and when full details of ICBC’s new policy are shared with me I will gladly publish them.

In the meantime, if you are being told that your claim is worth an artificially small amount based on ICBC’s internal assessment please know your rights.  It is well established that non-pecuniary damages are assessed individually on a case by case basis using the following non-exhaustive list of factors.  If ICBC is not prepared to use these you can be confident BC courts will –

a)     age of the plaintiff;

b)     nature of the injury;

c)     severity and duration of pain;

d)     disability;

e)     emotional suffering; and

f)       loss or impairment of life;

g)     impairment of family, marital and social relationships;

h)     impairment of physical and mental abilities;

i)       loss of lifestyle; and

j)       the plaintiff’s stoicism (as a factor that should not, generally speaking, penalize the plaintiff: Giang v. Clayton, [2005] B.C.J. No. 163, 2005 BCCA 54).

A survey by Kanetix.ca shows 25% of drivers never review their policies—missing out on savings

Read more

Yes, climate change is a crisis: surveys

The results are in.

After many people were buzzing about a new Angus Reid poll that concluded most Canadians believe the country faces a crisis due to a lack of pipelines, we did a few informal surveys of our ownto ask the public some questions that we felt had been left out.

Twenty-four hours later, we have received about 800 votes and have some overwhelming results.

We must admit that our tongues were firmly planted in our cheeks as we proceeded, but we believe that these issues are no laughing matter. And while our own poll wasn’t scientific, we’d challenge Angus Reid to do the same survey with our questions (we used a similar wording to what they used but changed the topic) and see what happens.

Now one question we didn’t ask was about how all of the issues surrounding pipelines relate to Indigenous rights, protected under the Constitution. We made a deliberate choice not to include it as a poll question because we don’t think that human rights are the sort of issue that should be decided based on a popularity contest.

In fact, history has shown us that rights need to be enshrined in our laws to protect the minority.

In the meantime, here are our results.

Out of 223 votes, 86 per cent of the respondents said that the Alberta Energy Regulator’s internal estimate of $260 billion in financial liabilities for the oilpatch is a “crisis.”

Out of 182 responses, a whopping 96 per cent said that a recent scientific assessment by the United Nations IPCC ( Intergovernmental Panel on Climate Change) that said the world had only 12 years left to prevent some of the worst impacts of climate change is a “crisis.”

Out of 193 responses, 89 per cent said that the Ontario government’s recent decisions to cancel green energy policies is a “crisis.”

And finally, out of 181 votes, 96 per cent said that the fact that large portions of Canada’s forests are at risk of dying off as climate change aggravates wildfires, droughts and infestations is a “crisis.”

Have we mentioned yet that the Insurance Bureau of Canada has just sent out some warnings about a new report that estimated severe weather caused $1.9 billion in insured damage in 2018?

“Climate change is costing Canadian taxpayers, governments and businesses billions of dollars each and every year,” said Craig Stewart, vice-president of federal affairs for the Insurance Bureau of Canada, in a statement. “We must take the necessary steps to limit these losses in the future. The cost of inaction is too high.”

Are the billions of dollars in losses from climate-related catastrophes a “crisis or not?”

Well, as Alberta Environment Minister Shannon Phillips wrote on Twitter, this is the “Insurance Bureau of Canada, everybody.”

Read more here:

 

Canada needs a digital ID system, bankers association says

CTV News

The Canadian Bankers Association says Canada must create a digital identification system, potentially utilizing technology such as blockchain, biometrics and document review over a live video connection.

The association’s chief executive says moving away from a paper-based, face to face process towards a modern identification system of this kind is needed to “unlock the full potential” of the digital revolution that is underway.

Neil Parmenter added in his speech in Toronto today that the need for digital identification “will only grow more urgent” as Ottawa explores the possibilities of open banking, the payments system is modernized and blockchain and artificial intelligence move into “new frontiers.”

The Department of Finance last week officially launched its public consultation on the merits of open banking, a framework that would allow consumers and businesses to permit third parties such as fintechs to access their financial data to provide innovative services.

Parmenter says the CBA is calling for a “federated” model of digital identification which would create linkages between federal and provincial systems, which hold information such as social insurance and drivers’ licences, respectively.

He says this digital identification system, which the CBA previously outlined in a white paper, could make it possible to authenticate an individual’s identity electronically using multiple digital reference points from different systems.

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