There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
Latest News
How to achieve financial goals with your spouse Apr 4th
Shannon Jarrett and Marcin Duran are the original odd couple when it comes to reconciling their very different approaches to money management. Despite sharing a home and domestic life together (including two kids) in Hamilton, Ont., they’re by and large living separate financial lives. “We donâ€.... More »
What is term life insurance and how, exactly, does it work? May 27th
When it comes to conversation-starters, life insurance generally doesn’t rank in the top 10 topics. We get it—who wants to think about the end of their own life? But it’s important to know the ins and outs of life insurance coverage so you leave your loved ones financially secure in the event .... More »
Canada’s Best Travel Credit Cards 2019 + MORE Mar 4th
With a good travel credit card, travel suddenly becomes affordable. And it helps if you sign up for the right travel credit card—one that doesn’t just focus on points, but also has perks like companion flights, amazing insurance coverage and flexibility with transferring points between cards.
Th.... More »
Prospective home buyers feel the heat over new mortgage rules, but all hope is not lost, industry leaders say Jul 10th
Mortgage default insurance is mandatory on down payments between five and 19.99 per cent, and as of July 1 it will be even harder to qualify through the national housing agency. But don’t panic just yet..... More »
What Brexit could mean for Canada Jun 27th
One of the few bright lights in the world economy just went out.
It took some time for the United Kingdom to get going again after the financial crisis. But through 2015, it was the only country in the Group of Seven’s rich industrialized nations to post economic growth in excess of two per cent f.... More »
Police charge man, 19, in Heartbleed privacy breach
– macleans.ca
OTTAWA – Police have charged a 19-year-old man from London, Ont., in connection with the loss of taxpayer data from the Canada Revenue Agency website.
Stephen Arthuro Solis-Reyes was arrested at his residence Tuesday and is charged with unauthorized use of a computer and mischief in relation to data, the RCMP said Wednesday.
A search of the residence resulted in the seizure of computer equipment.
The agency was forced to shut down its publicly accessible website Friday as the world learned about the Heartbleed computer bug, a previously undiscovered global Internet security vulnerability.
Other government computer sites were also temporarily taken down over the weekend.
On Monday, the agency said 900 social insurance numbers had been compromised.
The loss was detected Friday, but the agency delayed telling Canadians about it at the request of the RCMP.
The police said the delay allowed them to pursue their investigation through the weekend and helped track down a suspect.
“The RCMP treated this breach of security as a high priority case and mobilized the necessary resources to resolve the matter as quickly as possible,” said Assistant Commissioner Gilles Michaud…
Stephen Arthuro Solis-Reyes was arrested at his residence Tuesday and is charged with unauthorized use of a computer and mischief in relation to data, the RCMP said Wednesday.
A search of the residence resulted in the seizure of computer equipment.
The agency was forced to shut down its publicly accessible website Friday as the world learned about the Heartbleed computer bug, a previously undiscovered global Internet security vulnerability.
Other government computer sites were also temporarily taken down over the weekend.
On Monday, the agency said 900 social insurance numbers had been compromised.
The loss was detected Friday, but the agency delayed telling Canadians about it at the request of the RCMP.
The police said the delay allowed them to pursue their investigation through the weekend and helped track down a suspect.
“The RCMP treated this breach of security as a high priority case and mobilized the necessary resources to resolve the matter as quickly as possible,” said Assistant Commissioner Gilles Michaud…
Mortgage Rule Update: How Will OSFI B21 Impact You?
– ratesupermarket.ca
A new round of mortgage regulations has been introduced to the Canadian Housing Market, but don’t panic – this set is much less likely to impact your ability to buy a home.
The Office of the Superintendent of Financial Institutions (OSFI) revealed the proposed regulations today for public review. They’ll remain open for comment until May 23, when a final version will be drafted and implemented. Dubbed B21, the changes target providers of mortgage default insurance, which is required by all buyers paying less than 20 per cent down on their home purchase.
The purpose of the regulations is to create consistency between mortgage insurers’ underwriting practices, and create greater disclosure and transparency.
An Additional Round of Changes
These changes are a follow up to the B20 regulations introduced last summer, the fourth in a series of changes designed to discourage risky borrowing and too-high debt ratios. Those restrictions capped amortizations at 25 years, changed TDS and GDS ratios, and limited LTVs for refinances and HELOCs…
Heartbleed bug accused charged over SIN breach – CBC.ca
– news.google.ca
CBC.caHeartbleed bug accused charged over SIN breachCBC.caThe RCMP's National Division has charged a 19-year-old London, Ont., man following the theft of 900 social insurance numbers from the Canada Revenue Agency in a web security breach linked to the Heartbleed bug. Stephen Arthuro Solis-Reyes was …RCMP arrests London man in Heartbleed SIN theftToronto StarLondon, Ont., man, 19, charged in Canada Revenue Agency Heartbleed hackSarnia ObserverRCMP says it nabbed Heartbleed hackerComputer Dealer NewsBBC News -The Globe and Mail -Calgary Heraldall 1,485 news articles »
OTTAWA – Canada’s financial regulator is looking to issue new guidelines governing high-risk mortgages in the country’s housing market.
The Office of the Superintendent of Financial Institutions has asked for comments on the guidelines that would compel mortgage insurers to do due diligence on the ability of borrowers to service their debts and also require them to tighten monitoring procedures.
But OSFI has stopped short — so far — of further tightening mortgage rules, such as requiring that low-risk mortgages also be subject to 25-year amortization periods. Currently the rule applies only to higher-risk mortgages with less than 20 per cent down payment, where insurance is mandatory.
CIBC deputy chief economist Benjamin Tal says the new guidelines, once adopted, would have only minimal impact on the market.
They would formalize what is already the practice in Canada among lenders, such as Canada’s banks.
Tal adds that OSFI and the government are no doubt monitoring the spring housing market to determine if stricter measures are needed, but are likely encouraged that the market is showing signs of cooling…
The Office of the Superintendent of Financial Institutions has asked for comments on the guidelines that would compel mortgage insurers to do due diligence on the ability of borrowers to service their debts and also require them to tighten monitoring procedures.
But OSFI has stopped short — so far — of further tightening mortgage rules, such as requiring that low-risk mortgages also be subject to 25-year amortization periods. Currently the rule applies only to higher-risk mortgages with less than 20 per cent down payment, where insurance is mandatory.
CIBC deputy chief economist Benjamin Tal says the new guidelines, once adopted, would have only minimal impact on the market.
They would formalize what is already the practice in Canada among lenders, such as Canada’s banks.
Tal adds that OSFI and the government are no doubt monitoring the spring housing market to determine if stricter measures are needed, but are likely encouraged that the market is showing signs of cooling…
Security experts believe the data breach announced by the Canada Revenue Agency on Monday could be far worse than officials are letting on. The government department revealed Monday that 900 social insurance numbers were taken from its servers during a six-hour-window after the HeartBleed exploit was publicly announced a week ago.
