On The Lighter Side.

How do you tell the difference between a plumber and a chemist?

Ask them to pronounce unionized!

Rising Insurance Premiums Partly Caused By Fraud

When it comes to insurance there are lots of ways to cheat the system and the ones who end up paying for this crime will always be you, the honest and fair average consumer who just wants to do the right thing in order to protect themselves and their family from a loss.

We all know that proper insurance will cost a premium and it’s not an investment in the traditional sense, since there won’t be a return on your money. In fact, you really hope it never comes down to having something happen that requires a claim, since that means there was an incident or accident which created the loss but for which there could be inconvenience and distress, or worse, pain, suffering or loss of life.

Of course, when there is a serious incident or accident that involves a lot of damage and bodily injury or death, you’ll be quite relieved to know that by paying for good coverage, you’ll have good protection and the comfort of knowing that things will be taken care of on your behalf.

Still, the point of this conversation relates to fraud and its’ negative affect on insurance premiums. It’s appropriate to have this discussion during March, which is Fraud Prevention Month, and to know that individually and as a whole, the police, the Federal and Provincial Governments, and the insurance industry are working diligently to prevent fraud and prosecute those who are breaking the law.

Image courtesy of CFIB

Of course, like any other crime, the public needs to be as involved in the prevention of this reprehensible activity and assist the experts by engaging in the process, learning how scammers and fraudsters work the system and being ready and willing to report wrong doing when they see it happen. Watch for several upcoming posts that detail how insurance fraudsters work the system and cheat everyone else out of their hard earned money.

Which Animal Inspires Your Success Strategy?

Mon Dieu!

Not to detract from the historical tragedy of the devastating fire in the beautiful and iconic 856-year-old Notre-Dame de Paris but, as an insurance broker, after hearing that the fault may lie with the contractors doing renovations I couldn't help but wonder what they had for insurance and who was the provider. 

Apparently, there is cause to believe that workers may have accidentally started this horrible fire which wiped out the historical wooden structure portion of the world renowned church, with possible heat damage to other portions of the structure. 

If contractors did, indeed, cause the blaze, insurer AXA is on the hook for what will be a monumental payout, not that all the money in France will ever be enough to bring back a building that was almost 1000 years old.  Yes, it seems that it can be rebuilt and many are pitching in millions to help the cause, but a tragedy like this could spell the end of existence to a company that has to absorb the claim for loss that may result.

It will be small solace to the worker(s) who may have been responsible but at least they have some coverage, and they know that almost everyone who has a connection to the church vows that they will have it rebuilt, no matter the cost!

Yuor Bairn At Wrok!

"It deosn't mttaer in waht oredr the ltteers in a wrod are, the olny iprmoetnt tihng is taht the frist and lsat ltteer be in the rghit pclae. The rset can be a toatl mses and you can sitll raed it wouthit too mnay porbelms. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe."

If you read my post last Saturday ( " What I IF Told You" April 6, 2019 ) you'll see that the above statement is true and your brain is a wondrous thing, adapting very well to what seems like a difficult task.

Much the same way "predictive text" works on a Smart Phone, your brain is able to take the context of a sentence and determine what is coming next, thereby formulating the correct words and setting you up for successfully reading what seems like a jumbled mess. 

Of course, this is only partly true in the grand sense, as the jumbled words in the paragraph are carefully arranged. It is relevant that the function words, like "and" and "the", are intact, and that the placement of certain adjacent letters does make a difference. "Porbelm" is easier to relate to "problem" than "Plrbeom" for example, partly because it also carries the sound of the correct word. 

So, despite the fact that your brain is actually about 60% fat, it's truly amazing just what your grey matter can do for you when put to the test! 

Rising Premiums Partly Caused By Extreme Weather

According to Insurance Business Canada magazine, extreme weather events in Canada cost the insurance industry $1.9 billion in 2018, which is part of the reason consumers are seeing a raise in premiums.

A windstorm along the coast of B.C. caused $37 million in damages in one day alone.There was approximately $200 million in losses due to bad weather in the Prairies and if you add in  the $300 million in damages caused by the tornado that hit the Gatineau/Ottawa area, it's not hard to see how quickly these catastrophes add up to one big bill that inevitably gets shared by insurance consumers across the country.

"Considering the steep price of extreme weather events and a changing climate, the Insurance Bureau of Canada continues to work with governments across the country to advocate for increased investment to mitigate the impacts of extreme weather in the future, and make communities more resilient to its damaging effects."         Insurance Business Canada 

"What I If Told You...

....You Read This Blog Title Incorrectly", and other punny signs from the Indian Hills Community Center.

Rising Premiums Partly Caused By Distracted Driving.

April happens to be Distracted Driving Awareness Month and, aside from the fact that too many lives are taken or seriously affected by accidents and injuries associated with being distracted when operating a motor vehicle, the unrecognised collateral damage is the cost to all insurance consumers.

photo courtesy of Wawanesa Insurance

The basic concept of insurance is such that many insureds pool their money together to pay for the losses of a few, so it stands to reason that the effect of the ever increasing losses in our modern society will be a rise in premiums.

In a series of posts associated with those rising costs, I will point out some of the mitigating factors that are affecting you, the consumer, and what can or is being done to help you from the stand point of being an insurer, or in the case of BlueCircle Insurance Brokers, a representative of those insurers.

Without a doubt, some of it is caused by the extreme weather events that are becoming far too common ( watch for my next post about this topic titled "Rising Premiums Partly Caused By Extreme Weather" coming out on April 10th, 2019) But, April is Distracted Driving Awareness Month and some of our business partners, like Wawanesa Insurance, are doing their part to help reduce the risks associated with distracted driving.

For now, step one to protect everyone on the road is to recommend that when getting behind the wheel of a vehicle all drivers should activate the Do Not Disturb feature on their devices.