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Here's what you can do to help keep your credit cards out of the hands of fraud artists and thieves:
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| Ever wonder where your premium dollars go, especially when you don't make a claim? Well, in the aftermath of the ice storm of 1998, by far the worst natural disaster in Canadian history, over 840,000 insurance claims were handled. At the peak of the storm more than five million people were without power and claims departments were receiving as many as ten calls per minute. Insurance companies worked throughout this ordeal in state-of-emergency conditions with adjusters and field staff often working out of independent broker offices, personally visiting customers' homes to inspect damage and get repairs started as quickly as possible. Insured losses totaled $1.5 billion and it's testimony to the industry's prudent long term management of your premium dollars that not a single insurance company failed as a result of the huge claim payout. As a matter of interest, a study by Standard & Poors released in September 1998, found claim activity pumped nearly $900 million into the economies of Ontario and Quebec. The study also determined that insurer payments led to the creation of some 16,000 jobs and generated over $330 million in tax revenue. The people of eastern Ontario and Quebec have very positive feelings about their insurance brokers and the companies they represent as a result of their handling of the storm's devastation. They are now aware of the true value of adequate insurance coverage. Those of us lucky enough to escape the storm's wrath now know precisely where our premiums have gone. | ||
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| Every day on average, there are over 600 automobile accidents in Ontario. If you are injured in one and cannot work, your auto policy provides an income replacement benefit to partially replace the income you have lost . The policy will pay 80% of your net income based on your pre-accident employment earnings. Net income is basically your take home pay (gross pay less employment insurance premiums, CPP payments and income tax deducted). The maximum payment is $400 per week. For most people, this amount is adequate. However, if your income is above average, you should consider purchasing increased benefit coverage from us. It is important to note that any payments made from other sources (such as your employer or any private disability plan) are deducted from the amount payable. Here's how it works. If you are injured in an automobile accident, you may be eligible to get a payment every two weeks to partially replace the income you have lost. You can qualify if you suffer physical or psychological injuries within two years of an accident. The first seven days of your disability are not covered by this plan. Payments will begin within 14 days after the company has received your completed benefits application form and if your disability continues, a payment will follow at least every two weeks. You may require a certificate from a qualified medical person and the insurance company will pay for this certificate. Also, you are expected to participate in rehabilitation or treatments that are reasonable, and if you refuse, benefits can be reduced by 50%. There are lesser income benefits available to caregivers (such as full- time homemaker who looks after dependent children) and non- earners (such as a full- time student). If this describes your situation, we can explain the various benefits available. We urge you to consider your own situation and minimum income needs in the event you became disabled in an automobile accident. Benefit coverage beyond the $400 weekly maximum is available at a reasonable cost. Contact us for more information. | ||
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| No one wants to go through the horror of a home break-in. Unfortunately, over 108,000 breaking and entering offences were committed in Ontario in 1997 (Statistics Canada). Here are some crime prevention strategies compiled by the Metropolitan Toronto Police and the Insurance Brokers Association of Ontario to help you reduce your risk and increase your peace of mind. OUTSIDE YOUR HOME:
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