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Friendly
Reminders |
| Insurance Adjusters in Manitoba
are reminded that they need to have all of their mandatory
continuing education credit hours in place by June
30 in order to renew their license.
ILScorp is happy to offer hundreds of hours of courses
for insurance professionals in any position, so there
is plenty of choice for those who still need credit
hours.
Call 1-800-404-2211 or visit ilscorp.com
if you need hours.
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Industry Briefs |
| Standard Life adds a Whole
Life product to compliment its wealth and estate planning
solutions
Last week the Standard life Assurance Company of Canada
announced the addition of a Whole Life insurance product
to its portfolio of wealth management solutions. The
Whole Life product is now available through independent
financial advisors across Canada.
The company's Whole Life product offers premiums and
values that remain unchanged for the duration of the
contract and is targeted to individuals who are approaching
retirement and looking for tax-efficient ways to maximize
wealth transfer between generations.
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IBC launches D.U.M.B. campaign
The Insurance Bureau of Canada has kicked off a promotion
to help teach Albertans how to drive more responsibly.
The program is called Distractions Undermining Motorist
Behaviour, or D.U.M.B.
Program participants sit behind the wheel of a computerized
vehicle simulator called the D.U.M.B. Car while using
items like MP3 players, maps, and cellphones.
Jim Rivait with the Insurance Bureau says the program
is designed to get people talking about driving distractions
which he says play into 80 per cent of accidents.
The program is administered by a group of University
of Alberta students who will be giving demonstrations
at fairs, festivals across the province this summer.
Rivait says recent polls suggest that most Canadians
are concerned about driver distractions, but at the
same time many people are not willing to change their
own behaviour.
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Saskatchewan report says thousands of skilled
workers needed by 2016
A new report says skilled trade workers are returning
to Saskatchewan, but the province still has more work
than workers.
The Saskatchewan Construction Sector Council released
its labour market trends report from 2008 to 2016.
The report says construction employment will increase
by 3,800 workers in the next few years, but an additional
4,000 will be needed by 2016 to keep pace with retiring
baby boomers.
Michael Fougere with the Saskatchewan Construction Association
says there were really no surprises in the report and
the industry is trying to recruit more skilled workers.
Along with new immigrants coming into the province,
many expatriates are returning and apprenticeship training
programs are on the rise.
Alan Thomarat with the Canadian Home Builders Association
says wages in Saskatchewan are comparable to those in
Calgary or Edmonton.
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Manulife launches first Canadian version of
Guaranteed Minimum Withdrawal Benefit Product for group
retirement savings
Last week Manulife Financial announced its newest innovation
for group retirement savings clients with the launch
of Group IncomePlus.
Group IncomePlus guarantees group retirement savings
plan members retirement income for life, with no minimum
initial or continuing contribution needed. Studies by
behavioral finance teams - including researcher Dr.
Shlomo Benartzi who maintains an exclusive Canadian
relationship with Manulife - point to a growing need
for some portion of guaranteed income as the foundation
of a complete retirement income strategy. Manulife says
that Group IncomePlus gives capital accumulation plan
members an effective option for establishing this foundation.
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June's
Green Tips and Facts |
Currently, Canadians take home over 55 million plastic
shopping bags every week.
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This is Big - Find Out More
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the Flash Player to see this player.
New Commercial Courses coming to ILScorp on Monday, June
16
ILScorp is happy to announce the launch of six
new commercial video courses. The courses, instructed by long-time
insurance educator Todd Hochban, are great new options for
General Insurance professionals needing technical continuing
education credits.
The six new commercial courses include:
Commercial Crime - A review
of Commercial Crime exposures and common definitions are discussed.
Also included are policy reviews of burglary, robbery and
the comprehensive 3-D policy.
Commercial Property Coverages - Commercial
property policies are reviewed in detail. Beginning with the
fire policy, then the Fire and Extended coverage Policy, and
finally the Broad form policy.
Commercial Sales - Selling by design using
the four steps in the sales process are reviewed. Also discussed
are methods to deal with objections, building value, prospecting
and customer service.
Commercial Property - Commercial property
definitions are discussed in detail. Also reviewed are several
common policy clauses used in commercial property policies.
Risk Management - Risk Management is discussed
illustrating the many benefits to the broker. Also included
is a detailed discussion of the 5 step risk management process.
Underwriting - A discussion of Underwriting
information is reviewed in detail. Also included are technical
descriptions of the many components of interest in commercial
businesses.
These courses will be available on June 16 as part of the
Annual General Subscription. Current subscribers with an Annual
General Subscription can take these courses for free.
Not yet a subscriber? Contact us today at 1-800-404-2211 or
visit www.ilscorp.com
to get started!
Gas Woes Hit the Globe
 Forget
last night's television programming or catching up on family,
today’s water cooler talk seems to be mostly focused
around gas prices.
According to a report by petroleum industry research group
MJ Ervin & Associated, the average price for gasoline
in Canada is at a new record high. The average price for a
litre of gas is now $1.372, up 6.2 cents from last week.
The high price of fuel is having impacts in industries across
the board. Consumers too are feeling the pinch as they see
more dollars flow into the pump and out of their wallets.
However, Jane Savage, president and CEO of the Canadian Independent
Petroleum Marketers Association says that the gas retailers
aren’t the ones rolling in the profit. She said that
retailers generally bring in a gross margin of about five
or six cents for each litre sold.
Savage said it’s the gas stations run by integrated
oil companies, like Petro-Canada, Esso and Husky, who are
faring better since they are able to make profit from the
production of crude oil as well as from commercial selling.
How bad are gas prices? The following is a sample of data
collected on the morning of Wednesday, June 11. All prices
are converted to CAD$/L.
Canada
- Montreal: $1.519
- Calgary: $1.339
- Ottawa: $1.399
- Toronto: $1.30
- Vancouver: $1.489
- St. John's: $1.422
- Halifax: $1.356
United States
- Miami, FL: $1.071
- Buffalo, NY: $1.112
- Wichita, KS: $0.991
- New Orleans, LA: $1.055
- San Diego, CA: $1.194
- Houston, TX: $1.104
World
- Sydney, Australia: $1.48
- Brussels, Belgium: $2.23
- Copenhagen, Denmark: $2.46
- Cairo, Egypt: $0.32
- Frankfurt, Germany: $2.43
- Moscow, Russia: $1.049
- London, England: $2.335
- Sao Paulo, Brazil: $1.497
- Istanbul, Turkey: $2.98
How are you coping with high gas prices? Send
us an email and let
us know.
Holiday Hours at ILScorp
 To
celebrate Canada's 141st birthday, the ILScorp office will
be closed on Tuesday, July 1.
We hope you will enjoy the holiday and stay safe. However,
if you'd like to take ILScorp courses, you still can. Our
courses are available 24 hours a day, every day of the year,
just as long as you have an Internet connection.
Have a safe holiday!
Did you know that the name of the holiday was officially
changed from Dominion Day to Canada Day on October 27, 1982,
a move largely inspired by the adoption of the Canada Act,
1982, earlier in the year? However, many Canadians had already
been informally referring to the holiday as "Canada Day"
for a number of years before the official name change.
Live Preparation Courses at BCIT
West Coast Training's Todd Hochban is again holding in-class
preparation courses at the Vancouver campus of BCIT. The upcoming
courses include:
CAIB III – August 18 – 22, 2008
Exam Registration Date – August 8
Exam date – September 10
West Coast Training's CAIB Preparation Immersion class is
a great way for students to have their knowledge reinforced
by a professional insurance educator. Students are reminded
that they must register for the examination by the deadline
and the cost is not included in the course tuition.
Fundamentals of Insurance Preparation Course
– September 15 – 19, 2008
Exam on the last day of the course
This five-day school at BCIT gives students the information
they need to know to successfully pass the licensing exam.
While this West Coast Training course boasts an 80% pass ratio,
students who are unsuccessful in the examination are invited
to the next Fundamentals of Insurance Preparation Immersion
Course no charge.
For more information, visit West
Coast Training.
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