Friendly
Reminders |
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General Insurance Agents in Ontario are
reminded that they must have all CE hours in place by
September 30 in order to renew their
license.
As well, General Insurance Agents
in Alberta are reminded that they must
have all of their CE hours in place by October
31 in order to renew their license.
Call 1-800-404-2211 if you need hours. |
August
Hours at ILS |
| The ilscorp.com office will be
closed on Monday, August 6 for the Civic Holiday. We
will be open again for business as usual on Tuesday,
August 7.
Though our office will be closed,
you can still take any of our courses online on this
day.
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July
sale at www.ilscorp.com |
| This July, save $25 on an Annual General Insurance
subscription!
From July 1 to 31, enter your promotion code when purchasing
a year-long General Insurance subscription and save!
Access hundreds of General Insurance CE courses all
year long for just $100.
Your Promo Code: 7SALES
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Industry Briefs |
Air passengers
launch suits over TB on board
Atlanta's Andrew Speaker caused some commotion in May
when he was traveling on a Czech Airlines flight from
Prague to Montreal. Speaker was infected with tuberculosis
at the time, specifically XDR-TB, an often-fatal form
of the disease.
Now nine separate civil lawsuits have been launches
against Speaker, himself a personal injuries lawyer.
Among the plaintiffs are two Czech sisters who sat beside
speaker on the transcontinental flight, as well as a
Laval, Quebec man who was also on the plane.
Anlac Nguyen, a Montreal lawyer, is representing these
three plaintiffs and says that they are seeking actual
monetary damages that the two Czech women suffered after
they were unable to enjoy their vacation due to the
medical scare. Nguyen said that the sisters are seeking
around $100,000 each while the man from Laval is seeking
$40,000 in damages – less than what the sisters
are asking since he was not seated as near to Speaker
as they were.
Speaker flew to Montreal and drove to New York in
order to evade a U.S. no-fly order, which was imposed
by U.S. officials after they discovered Speaker's tuberculosis.
Nguyen says that anyone on the flight to Montreal can
join the suit and seek anywhere from $30,000 to $50,000
in damages.
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"Understanding your insurance is a year-round
task": IBC
With summer well underway across Canada, the Insurance
Bureau of Canada is reminding the public – especially
homeowners in British Columbia – to check and
double-check their insurance policies.
British Columbian residents are no strangers to the
havoc of natural or environmental disasters. Over $200
million in claims were paid in the wake of the forest
fires of 2003. However, homeowners need to be aware
that emergency situations can affect their insurance.
During natural disasters, such as wildfires, insurance
companies may have temporary restrictions on taking
on new business, making the instant purchase or upgrading
of insurance exceptionally difficult. These same factors
could also slow real estate transactions during a state
of emergency, potentially affecting realtors and those
looking to buy or sell a home.
--
Survey: Canadians may not be well prepared for
summer road trips
A recent survey from RBC Insurance shows that while
many Canadian families are heading out for summer holidays,
they might not all be as prepared as they could be.
Here are some of the key stats:
- 52% of respondents are "fully prepared"
if their car breaks down
- 51% of respondents have an emergency supply kit
in their vehicle
- Summer 2007 travel plans are up 16% from summer
2006
- 64% of respondents have never bought travel insurance
when traveling outside of their own province/territory
but remaining within Canada
- 37% of respondents have never purchased travel
insurance while traveling to the United States
- 26% of respondents have never purchased travel
insurance while traveling outside of Canada or the
U.S.
Many Canadians appear to be unaware that their provincial
government and employee health care plans do not cover
everything when they leave their home province. In fact,
72% of respondents believe that the majority of their
medical expenses would be covered by a provincial healthcare
plan in the event of an injury occurring while outside
their home province but still in Canada.
Government health insurance plans may limit reimbursement
for expenses such as air ambulance service, prescription
drugs and X-rays. Without additional travel insurance,
this can get very costly - an air ambulance with a full
medical team from New Brunswick to Toronto, for example,
can cost $15,000 and is not covered by a government
health insurance plan (GHIP).
For those traveling to the United States, a two-day
stay in a U.S. hospital for chest discomfort could cost
US$10,800, with only US$400 being covered by GHIP. A
13-day U.S. hospital stay for trauma associated with
a motor vehicle accident could cost US$113,300, with
only US$5,200 covered by GHIP. An appendectomy, which
usually involves a two-day stay, could cost US $18,500,
with GHIP covering only US$800.
Have a comment about a brief? Let us know by clicking
here.
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A Brief Message from ILS
Coming soon: new CAIB Exam Preparation video pricing
ilscorp.com will be changing the pricing for the CAIB Exam
Preparation video course series as of August 15.
This is the last chance to get discounted office pricing
for the CAIB preparation series! Sign up for any of the CAIB
1 through 4 video courses for just $500!
After August 15, only group members will have the option
for office pricing while individual rates will apply. Membership
does have its privileges.
Our CAIB Exam Preparation video courses are comprehensive,
offering all of the benefits of in-class instruction at a
fraction of the cost. After viewing these courses we are confident
that you will have all of the knowledge and tools required
to successfully challenge the CAIB exams.
Sign up now to find out why the ilscorp.com CAIB Exam Preparation
video series continues to be one of the most popular course
series on the Internet!
Interested in a group membership? Call us today for more
information: 1-800-404-2211
Cruising for credits
 Close
your eyes and imagine where you'll be six months from now. The
busy holiday season will be over, New Years long gone while
the Canadian winter howls on.
You could be sitting in your office with the glow of artificial
light warming your heart. You could be dodging slush puddles
on your way to and from work. You could be leaving your home
early in the morning when it's still dark outside and returning
hours later when it’s already dark outside.
Or, you could be on board a luxury cruise ship, spending
your days on land shopping and sight-seeing in the sun. You
could be soaking in live entertainment with friends new and
old. You could even be earning mandatory CE credits while
the vacation continues!
Where would you rather be?
The Second Annual ILS Caribbean CE Cruise is now just six
months away, running from January 27 to February 3, 2008.
Join us and fellow insurance professionals as we tour through
the Caribbean, stopping in Puerto Rico, the British Virgin
Islands, Dominican Republic and Haiti, while having the chance
to earn up to 12 CE credits!
So say "adios" to at least one week of winter this
year and cruise for credits!
Don't forget to talk to your financial advisor about the
tax benefits of attending the cruise!
Want more info? Check out www.ilscorp.com/cruise
for more details, including rates and how to book!
Immobilizers soon required for Canadian vehicles
 Transport
Canada has announced that as of September 1, 2007, all new
cars, vans, light trucks and SUVs must be equipped with anti-theft
electronic immobilizers.
Immobilizers make it more difficult to steal vehicles. They
prevent a vehicle from starting unless the engine computer
recognizes the specific electronic code embedded in the key.
In vehicles with immobilizers, "hot-wiring"–
or starting a vehicle by bypassing the ignition system –
is next to impossible.
Many automakers have announced their plans to equip 2008
model vehicles with immobilizers meeting the requirements
of the Canadian standard (ULCS338/98). These automakers include
the following:
- Audi
- DaimlerChrysler
- Ford
- General Motors
- Hyundai
- Jaguar
- Kia
- Land Rover
- Mercedes-Benz
- Nissan
- SaabSubaru
- Volkswagen
- Volvo
According to the Insurance Bureau of Canada’s list
of most frequently stolen vehicles, none of the top 10 most
stolen vehicles had standard immobilizers. In fact, the first
vehicle listed that does come with an installed immobilizer
was the 2001 Audi S4 Quattro 4-door, which was ranked 28th
on the list.
However, there could be a potential downfall the prevalence
of immobilizers. Toronto police issued a public safety alert
late last month warning residents of rising break-and-enter
crimes. It is believed that organized theft rings that target
luxury cars are breaking into homes in search of car keys
that will deactivate anti-theft devices, including immobilizers.
Police are concerned about the risk of violence during a break
and enter and are suggesting that, when possible, car owners
should park in a locked garage.
Your July promotional code to win $200 cash!
Your promo code for June is: LUXURY2
Take this promo code and visit www.ilscorp.com/cruise.
Enter it and answer a few quick questions and you will be
entered to win $200 cash!
Good luck!
Live CAIB 1 and CAIB 2 Preparation Courses at BCIT throughout
August
West Coast Training's Todd Hochban is teaching CAIB 1 and
CAIB 2 preparation courses this August for students who wish
to get live training before they challenge the exams.
The live, in-class courses take place at BCIT in Vancouver.
From August 20 - 24, Hochban will be teaching
the CAIB 2 Preparation Immersion Course. It should be noted
that the exam registration deadline is August 10
with the exam date scheduled for September 12.
The cost for this course is $561.75, including GST.
From August 27 - 29, Hochban will be teaching
the CAIB 1 Preparation Course. This class is available for
students who want to complete their CAIB designation. “It’s
a fast-paced, quick and thorough course,” says Hochban.
“It’s a good compressed course that acts as a
refresher for students going for their designation.”
The registration deadline for the CAIB 1 exam is also August
10 with the exam scheduled for September
12. Tuition for this course is $294.25.
For more information or to register for any of these courses,
visit: http://www.westcoasttraining.ca/
Can you believe this?
An insurance brokerage firm owner is going to have trouble
getting out of the more than $1 million hole he dug himself
by swindling client after client out of their insurance policy
premiums.
The defendant was arrested twice in 2006 regarding an ongoing
investigation into his company's business dealings as an insurance
broker.
During the first arrest in February 2006, the defendant was
accused of issuing 406 counterfeit certificates of liability
insurance to a company. The brokerage firm was paid $604,649
for the certificates, and none of that money was ever forwarded
to the insurance company. Also, the defendant issued six performance
bonds to the same client in exchange for $69,292, which he
also kept for himself.
Another investigation that resulted in the second arrest
warrant in August 2006, showed that the defendant was responsible
for writing phony insurance policies for seven different companies.
He collected a total of $554,952 as payment for insurance
premiums from these businesses and he deposited it all into
his business account for personal use. None of the seven business’
insurance companies ever received any premiums from the defendant
as payment and none found any record of the policies written
by him.
It was also found that the defendant’s authorization
to act as an insurance broker had been under suspension by
the Commonwealth of Pennsylvania since September 2004.
Sentences are pending.
(Delaware County Criminal Investigation Division: Insurance
Fraud Unit of the District Attorney’s Office)
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