Everything a Bride-to-Be Needs to Know About Ring Insurance

Everything a Bride-to-Be Needs to Know About Ring Insurance

With great rings come great responsibility…

Excerpted article was written by Erin Celletti | BRIDES

From the moment you say “Yes!” chances are, you’ll be rocking a shiny new addition on your left hand. While it may be the last thing on your mind during such a happy time, with great rings come great responsibilities—including insurance. Here’s what you need to know.

Why You Should Have It
Jewelry insurance can offer coverage of your precious baubles in cases of theft, loss, damage, and even disappearance. Whether you’ve left it behind on the beach, lost a stone at the gym, or had your ring stolen, ring insurance can offer financial protection and peace of mind when you need it most. While anything happening to your engagement or wedding ring is heartbreaking, knowing it’s properly insured can help to soften the blow.

Questions You Should Ask
When shopping for a ring insurance plan, you have to ask questions to know exactly what coverage you’ll be provided. Will you continue to be insured when out of the country? Are you covered for damage or just loss/theft? Will the policy adjust according to inflation? Will repairs or replacements be comparable? Can you use your own jeweler if you should need to? These and more should all be considered prior to selecting a plan.

What Will You Need?
You’ll need a certified appraisal that verifies and the size, specifications, diamond grading, cost, and purchase price—the whole nine yards. All of this information will be summed up in a formal appraisal, which jewelers and appraisers can provide. It’s a good idea to have one done whether or not you pursue insurance, but you’ll certainly need one for insurance.

When Should You Get It?
In short, the sooner the better. Your soon-to-be fiancé can insure the ring as soon as it is purchased and in his possession—much like you would insure a car prior to driving it off the lot. You might not initially be thinking of anything happening to your precious and sentimental token, but the sooner it’s insured, the sooner you’ll be protected. Once purchased, you or your fiancé can begin to shop for ring insurance providers, or purchase a rider (insurance extension) through existing homeowner or renter policies.

Canadian Health Insurance Company to Cover Medical Cannabis

Excerpted article was written by Allison Tierney 

A major Canadian health insurance company will soon cover medical cannabis. Sun Life Assurance Co. is set to add medical cannabis to its group benefits plan on March 1. It will be the first major Canadian insurance company to take this step.

“Sun Life’s approach reflects current evidence-based clinical knowledge regarding the medical use of cannabis,” Sun Life said in a release on Thursday.

“As this has become something our clients—being the individual companies known as plan sponsors—have been asking us about more and more, we have moved from the stage of evaluate and review, to now offering it as a benefit for medicinal purposes,” Dave Jones, senior vice-president of group benefits at Sun Life, told the Globe and Mail.

The yearly maximums for those who will be covered through Sun Life for medical cannabis range from $1,500 to $6,000 per person per year. Medical cannabis will be an optional coverage through Sun Life, which insures more than 22,000 companies in Canada. Sun Life currently lists the following conditions and symptoms as being eligible for coverage: cancer, multiple sclerosis (MS), rheumatoid arthritis, HIV/AIDS, and for patients in palliative care. There will be a prior approval process for those seeking coverage.

Justin Loizos, owner-operator of the compassion club Just Compassion in Toronto, has officially been a medical cannabis patient since 2012. Loizos uses cannabis as a medicine because he has MS and post-traumatic stress disorder. He estimates he would spend about $80,000 per year for his medical cannabis if he didn’t have access to wholesale pricing through the compassion club he owns.

“I own and operate a dispensary—the only reason I can afford my medicine is because of this,” Loizos said.

Loizos said going through the current legal system rather than the grey area his dispensary operates in isn’t an option to for him right now because what’s offered would fall short of his needs and wouldn’t keep him out of the hospital.

Loizos said the average grams used for medical cannabis patients would be significantly lower than his needs, however, as he describes himself as an “oddity.” He estimated it would be three to five grams per day for an average medical cannabis patient, whereas he uses around 40 grams per day (though it can vary depending on his medical needs).

Loizos said Sun Life’s coverage would likely cover only about a gram per day.

However, Craig Jones, the executive director of NORML Canada, said that he’s hopeful the cost of cannabis will go down after Canada’s cannabis legalization and regulation are put into action this year. NORML Canada is a non-profit that “aims to eliminate all civil and criminal penalties” for private cannabis use.

“It’s likely that the cost of cannabis will decline and—once people figure out which strains work best for which conditions—they’ll have no problem accessing through government vendors or from friends,” Jones told VICE via email.

Jones said it’s essential that more good-quality research is conducted on cannabis. He said that doctors are slow to pick up on new therapies such as cannabis—in part due to its stigmatization, but also because there needs to be more quality research and the results of such in the public domain.

“NORML Canada has long held that the full potential of cannabis is yet to be discovered—and with legalization and the end of bureaucratic obstacles, we may be on the verge of a whole new research era,” Jones said.

“I expect that insurers will expand availability as we learn more about what cannabis therapies work for which groups and conditions,” Jones told VICE. “We are at early days. Expect the unexpected.”

Sun Life’s coverage will categorize medical cannabis under “medical services and equipment” rather than under a drug benefit since it does not have a drug identification number (DIN). Medical cannabis does not have a DIN since it has yet to be approved by Health Canada under the Food and Drugs Act.

For Loizos, medical cannabis has greatly improved his life. Proper dosage level has meant that he has greatly reduced his number of hospital visits for MS-related issues, including being able to avoid potentially dangerous therapies such as those including large amounts of IV steroids.

A next step forward, Loizos said, is for provinces’ disability support programs (such as Ontario’s ODSP) to cover costs—not just a gram per day, but whatever amount a doctor prescribes—of medicinal cannabis.

“Sun Life taking this first step is gigantic,” Loizos said. “Even if it’s a gram a day or whatever, it’s not a joke, it’s showing that a major staple in our medical community has accepted cannabis as medicine and is allowing coverage. That’s very positive.”

VICE

Slick roads lead to multiple crashes, including a 50 car pileup, on Calgary roads

By The Canadian Press

THE CANADIAN PRESS

CALGARY _ Roads in and around Calgary are slick, leading to more than 100 crashes _ including a 50-car pileup _ since a snowstorm went through Thursday.

Emergency crews responded around 9 a.m. Friday to a multi-vehicle crash on Stoney Trail between Chaparral Boulevard and Cranston Boulevard in the southern edge of the city.

It took five hours for crews to reopen the roadway Friday afternoon after more than 50 vehicles were involved in the pileup.

At least eight people were transported to hospital in stable condition.

Several drivers involved in the crash told CTV Calgary that a wall of thick fog made it difficult to see what was in front of their vehicle.

Roads are also extremely slippery, particularly on bridge decks, hills, intersections and exit ramps.

Officials are advising people to avoid driving, if possible, but say those who must travel should plan ahead, drive to the conditions and give crews room to work.

Gov’t Plans to Strip Rights for Insurance Company Profits; ICBC Targeting Psychological Injury

Today’s guest post comes from B.C. injury claims lawyer Erik Magraken

The BC Government held a press conference where widespread changes targeting the rights of British Columbians to save ICBC money were announced.

In short the Government is creating an artificial cap on what they call ‘minor’ injuries.  As previously discussed even ICBC admits that the termminor injury catches injuries that are ‘complex and costly’.  The pain and suffering cap will be set at $5,500 and is set to kick in in April 2019.

The Government did not provide a full definition of what they call ‘minor’ but ICBC is already noting that in addition to soft tissue injuries that can disable you for up to a year the cap will also target psychological injuries with the insurer publishing a press release saying mental health issues such as ‘anxiety‘ will be caught by the cap.

The Government stated that “a medical professional” will decide if your injury is “minor“.  It is unclear exactly who this medical professional will be.  If you wish to dispute this designation the government is limiting your rights here as well.  The press release notes that certain ICBC claims will be forced to be adjudicated, not by the courts, but by the BC Civil Resolution Tribunal.  Disputes over “the classification of an injury” will be funneled this way.

As of now this Tribunal does not allow people to be represented by lawyers with s. 20 of the law creating the tribunal stating that the default position for hearings is that “the parties are to represent themselves“.

Lastly, if you wish to not have your rights stripped by caps the Government is asking that the victim of bad drivers, not the bad drivers themselves, pay more stating that “Drivers will have an option to purchase additional coverage for a higher limit in pain and suffering compensation. The limit will be set at $75,000 and will cost approximately $1,300 a year, on top of the cost of their basic and other optional insurance. Charging for this optional coverage means the customers who stand to benefit from increased coverage will pay for it, rather than every B.C. driver.

You read that right – if you don’t want your rights stripped you need to pay $1,300 more per year, not the distracted and impaired drivers on our roads!

As Yogi Berra said, It Ain’t Over Till It’s Over!  If the above strikes you as unfair please  contact your MLA and tell the government plainly and clearly ‘no to caps’.

 

TIRF: Cannabis-impaired driving has become a top road safety concern

From the President:

Cannabis-impaired driving has become a top road safety concern amidst discussion about the proposed legalization of marijuana in Canada. Data sources that provide insight into the magnitude and characteristics of this problem are essential to inform discussion and shape legislation, policy and programs to address it.

The presence of drugs among drivers killed in road crashes is one important indicator of the problem. According to TIRF’s National Fatality Database, in 2013, almost 50% of fatally injured drivers that tested positive for drugs had used cannabis, and almost two-thirds of them were aged 35 and younger. Although positive tests do not necessarily indicate impairment, the prevalence of drugs in drivers killed in road crashes certainly warrants concern.

Data regarding the attitudes and self-reported behaviours of Canadian drivers also provide an important window on the problem. The Road Safety Monitor annual public opinion poll series has explored this topic for the past several years. These data revealed an increase in self-reported driving within two hours of using marijuana from 1.6% in 2013 to 2.6% in 2015, which represents an increase of 62.5%. While data from 2016 showed a small decline to 2.3%, preliminary data for 2017 suggest this percentage has increased above 2015 levels.

Collectively, these data underscore that there is much work needed to reduce this problem. The good news is that road safety organizations across the country are working to put in place public education about the impairing effects of marijuana on driving. However, much more work is needed to ensure that education is backed up by strong enforcement and proven tools to manage drug-impaired drivers.

Learn more about drug-impaired driving at www.druggeddriving.tirf.ca and recent TIRF reports available at www.tirf.ca.

Robyn Robertson
TIRF President & CEO

IBC applauds BC’s move to curb rising auto insurance costs

On behalf of Canada’s private auto insurers, Insurance Bureau of Canada (IBC) welcomes today’s announcement that the British Columbia (BC) government will double accident benefits and introduce a cap on awards for minor injuries following auto accidents.

This announcement follows BC Attorney General David Eby’s earlier statements detailing the financial challenges facing the Insurance Corporation of British Columbia (ICBC) and the significant increase in legal costs in BC’s auto insurance system. BC is the last province to introduce measures to limit awards for soft-tissue injuries. Its accident benefits have not been increased since 1991, limiting the ability of injured parties to access the care they need.

“A minor injury cap has been used effectively in other Canadian provinces to help control costs and limit the rate pressures facing drivers,” said Aaron Sutherland, Vice-President, Pacific, IBC. “But caps alone will not reduce rates in BC. Opening ICBC to competition and allowing Canada’s private insurers to bring choice to the market would bring significant savings to BC drivers, and must be part of any long-term solution to the challenges in BC’s auto insurance system.

“An MNP report released last week showed that opening ICBC to competition would save BC drivers up to $325 every year,” continued Sutherland. “Drivers pay more for their auto insurance in BC than anywhere else in Canada. The experience and innovative tools Canada’s private insurers have brought to other Canadian provinces can help improve the affordability of auto insurance in BC.”

Additional Resources

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 120,000 Canadians, pays $9 billion in taxes and has a total premium base of $52 billion.

For media releases and more information, visit IBC’s Media Centre at www.ibc.ca. Follow IBC on Twitter @InsuranceBureau and 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.

If you require more information, IBC spokespeople are available to discuss the details in this media release.

SOURCE Insurance Bureau of Canada

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