A new Ontario regulation tackles this growing concern. When an insurer suspects a claim is fraudulent, they can refuse to pay for treatment until the treatment provider supplies reasonable information.
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The term ‘longevity risk’ is being heard more and more frequently these days, and with good reason. Babies born today are expected to live nearly 81 years, and seniors today are living longer than ever before.
So what exactly does longevity risk mean? It’s an insurance term for the risk that pension...
Marketing firms routinely collect extensive information about consumers; information that could soon be utilized as a tool for insurers. The idea has been raised that insurers could utilize consumer buying patterns as an alternative to medical testing when determining applicant eligibility for life...
A New York court recently made a landmark ruling regarding a person’s ability to sell their life insurance policy to a stranger; this is a significant departure from the “insurable interest” principle [see below for historical background]. The controversial case revolves around Manhattan lawyer, Arthur...
