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Latest News
CMHC to raise mortgage insurance premiums for new homebuyers as of March 17 + MORE Jan 18th
OTTAWA _ Canada Mortgage and Housing Corp. is raising the cost of mortgage loan insurance for new homebuyers effective March 17.
The Crown corporation estimates the increases will add about $5 to a monthly mortgage payment for its average homebuyer.
“We do not expect the higher premiums to hav.... More »
Insurers won’t demand genetic tests + MORE Sep 28th
Insurance companies won’t tell prospective customers they need genetic testing — but will expect them to disclose tests they’ve already had..... More »
Insurance Add-Ons You May Want to Consider Purchasing + MORE Oct 3rd
When it comes to purchasing car insurance, going for the cheapest rate can be tempting in order to save money. After all, rates are already high enough as it is.
But you might be surprised what basic things aren’t always included in a base rate. As per Canadian laws, the most basic plans gene.... More »
As a Young Adult, These Are The Top 3 Financial Lessons I Learned in 2018 Jan 3rd
Growing up, I thought I always had a knack for being financially responsible. My parents constantly lectured me about the importance of spending within my means and saving from a young age, so I would be careful not to spend too much while out with friends, and would throw a few dollars in my savin.... More »
Anthem: Hackers compromised 5 workers’ credentials, may have been in network since December Feb 7th
SAN FRANCISCO – The hackers who stole millions of health insurance records from Anthem Inc. were able to somehow commandeer the credentials of five different employees while seeking to penetrate the company’s computer network — and they may have been inside the system since December.
A.... More »
Car insurance in 90 seconds
– moneysense.ca
MoneySense Senior Editor David Hodges breaks down insurance company jargon to help you determine what level of coverage you really need.
MM&A’s bankruptcy reveals glaring gaps in rail insurance rules
– theglobeandmail.com
As the lawyers descend on the Montreal Maine & Atlantic Railway Inc., a vague set of industry insurance rules is unearthed
Usage-based insurance
– moneysense.ca
Usage-based insurance has recently launched in Ontario and Quebec on a voluntary basis by Desjardins Insurance and its subsidiary, The Personal Insurance Company. But what is it and how does it work? A small wireless device is installed into a vehicle’s diagnostic port to measure distance travelled annually, frequency of hard braking and acceleration, as well as time of day the vehicle is driven. Drivers can then log in online and share the info with their insurance company to determine whether they can save on insurance, up to a maximum of 25%, based on their habits.
Roughly half of Canadians have more than $10,000 set aside in an emergency fund while 17% have less than $1,000 and 20% have up to $5,000, according to a new poll for BMO. “Financial emergencies, such as a broken furnace or major car repairs, can crop up at any time and, without some form of financial cushion, can potentially cause households to take on more debt than is necessary,” said BMO’s Janet Peddigrew…
Roughly half of Canadians have more than $10,000 set aside in an emergency fund while 17% have less than $1,000 and 20% have up to $5,000, according to a new poll for BMO. “Financial emergencies, such as a broken furnace or major car repairs, can crop up at any time and, without some form of financial cushion, can potentially cause households to take on more debt than is necessary,” said BMO’s Janet Peddigrew…
