Climbing and Life Insurance + MORE Aug 18th

OTTAWA – A Canadian government agency has determined that the U.S. rail company whose runaway train crashed into a small Quebec town, killing 47 people last month, has adequate insurance to keep operating for the next month and a half.
The Canadian Transportation Agency said the Montreal, Maine & Atlantic Railway provided evidence it had adequate third-party liability insurance coverage to operate from Aug. 20 to Oct. 1, 2013. The agency’s decision late Friday reversed an Aug. 13 order that would have halted the railroad’s operations from early next week.
The agency said the rail company provided new facts and information demonstrating it had adequate third-party liability insurance for the short term. However, agency spokeswoman Jacqueline Bannister said Montreal, Maine & Atlantic must show it has the funds to pay the self-insured portion of its operations, or the regulator will suspend its operations from Aug. 23.
On July 6, an unmanned train, with 72 tankers of crude oil, came loose, derailed and crashed into the centre of the town of Lac-Megantic near the Maine border in eastern Quebec…

MONTREAL – The railway at the centre of last month’s Lac-Megantic train crash will be allowed to continue operations into the fall.
The Canadian Transportation Agency announced the decision late Friday, reversing a move made earlier in the week.
The arm’s length federal regulator had suspended Montreal, Maine & Atlantic’s certificate of fitness after ruling it didn’t have sufficient third-party liability insurance.
That decision was overturned after the agency determined that the railway had sufficient coverage to operate in the short-term.
The railway’s licence is now valid until Oct. 1.
A statement issued by the agency explained the new decision is based on new information provided by the company. It stressed the extension is for a short time period.
“Based on the new evidence provided today, the agency is satisfied that this provides adequate third party liability insurance coverage for operation from August 20 to October 1, 2013,” the statement said…

Climbing is an exhilirating activity that many people enjoy. There is rock climbing (indoors and outdoors), rock climbing, ice climbing and the ultimate challenge: mountain climbing. However, these are also deemed “high risk” activities by Canadian life insurance companies. Read on to find out how climbing can affect a life insurance application!

Mortgage Rates To Climb For At Least Two More Years
We’ve witnessed a steady upwards trajectory among fixed mortgage rates over the past few months – but what’s in store for the recent years to come? According to the Q3 2013 Housing Market Outlook released this week by the Canadian Mortgage and Housing Corporation, the average posted five-year fixed rate could jump by over 80 basis points by 2014.
The crown mortgage insurance corporation indicates a short term increase to a range of 5 – 5.50 per cent this year, and up to 5.25 to 6 per cent the next. Keep in mind though, that these are posted rates; currently, the highest on our best rates table sit at 5.14, while the lowest discounted rates can still be had in the 2.99 – 3.20 per cent range.
These increases are due to persistently high bond yields (government of Canada five-year bonds closed at a two-year high of 1.94 per cent this week!) and the challenges lenders face as a result of new limitations on their mortgage funding methods…