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Stop The Treadmill I Want to Get Off!

Many small and large businesses alike are concerned about the sustainability of providing benefits to their employees. This is no surprise considering Canadian employer private drug plan payouts reached $7.6 billion in 2011. This increased by $1.8 billion over the past five years, according to IMS Brogan’s Private Drug Plan Database. For most companies, managing employee benefits costs is like being on a treadmill … shop the market, compare, implement, get the renewal increase, shop the market, compare, implement, get the renewal increase… The Good News is – there are solutions to this treadmill methodology. Employers do not have to be content with the status quo. All employers need to ensure their employee benefit costs are competitive and sustainable in an ever changing health care market place. Healthcare delivery is more complex today and demands are greater due to an…read more →

Estimates on Sandy’s Insured Losses Updated

Taken from: Canadian Underwrite “AIR Worldwide has updated its estimates of insured losses from post-tropical cyclone Sandy to between US$16 billion and US$22 billion. The updated estimate is a result of the latest available information on surge height and extent from the U.S. Geological Survey, surface wind speed observation data, and findings from AIR’s post-disaster survey teams, notes a statement from the catastrophe modeller. The higher estimated losses – up from US$5 billion to US$15 billion the day after Sandy made landfall in New Jersey – follows an increase in estimated losses from storm surge damage, Tim Doggett, principal scientist at AIR Worldwide, notes in the statement. “This, in turn, is driven by a reassessment of the percentage of flood losses that will actually be paid, as well as an improved storm surge footprint run against high-resolution industry exposure information.”…read more →

Don’t Let Financial Planning Mistakes Damage Your Retirement

Although many people think that the real danger to their retirement comes from not having enough money or Social Security when the time comes, financial planners say that a far greater risk is making mistakes that squander the resources you have when you leave the workplace. Terence L. Reed, CFP, author of The 8 Biggest Mistakes People Make with Their Finances Before and After Retirement, offers this advice on avoiding four of the most common mistakes: Put your plans in writing. If you’re married or with a partner, be sure that they contribute equally. Retirement isn’t a do-it-yourself project. Written plans are less likely to overlook key elements. Be certain to address every aspect of retirement, such as spending, allocation of expected retirement benefits from pensions or Social Security, provision of insurance, and plans to live or travel. Be realistic about your willingness…read more →

Using U.S. Strategies in Canadian Benefits Plans

Taken from: Benefits Canada “With Canadian healthcare costs on the rise, I often suggest to benefits administrators plan design modifications that would cut costs without reducing benefits—for example, a preferred provider network. However, these suggestions are often met with distaste. I hear objections such as, “We can’t ask our employees to go to one pharmacy and not the other.” The discussion historically has ended there—until recently. Canadian plan administrators fighting rising costs are increasingly considering American-style design considerations. Following are some of those. Pre-approval for services U.S. plans frequently require plan members to obtain pre-approval for services. Certain surgeries, CAT scans, MRIs and other services can be denied if approval is not received first. With paramedical costs growing, some Canadian plans have implemented similar pre-approval for services such as massage therapy, acupuncture, compression hose or orthopaedic shoes. Beneplan clients’ claims history shows that just…read more →

What Do You Think About Us

We at Dan Lawrie Insurance Brokers would like to hear what you have to say about us. you can simply leave us a comment on one of our social sites or even leave a comment on this page. Here are a few examples of what you guy have left us so far. “In my personal experience, Rene Papin is a guarantee of responsibility, trustworthiness and integrity in all his actions. Rene also has a great sense of humour that makes him a pleasure to deal with.” L. Monck   “I was with another Financial Advisor for over 15 years and it wasn’t until the last few years that I noticed my advisor did not call me to review my portfolio with me. I found that very disturbing and when I called them for an update – they told me everything was fine…read more →

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