Comments on: Insurance You Can Do Without – Credit Card Protection Insurance http://canadianfinanceblog.com/2009/06/23/insurance-you-can-do-without-credit-card-protection-insurance.htm The Canadian Source For Personal Finance Mon, 15 Mar 2010 01:11:51 -0600 http://wordpress.org/?v=2.9.2 hourly 1 By: Vince http://canadianfinanceblog.com/2009/06/23/insurance-you-can-do-without-credit-card-protection-insurance.htm/comment-page-1#comment-3601 Vince Fri, 12 Feb 2010 18:48:11 +0000 http://canadianfinanceblog.com/?p=651#comment-3601 Many of the companies named in the Marketplace report are underwritten by American Bankers operating as Assurant Solutions in Canada. They underwrite credit insurance for: GE Money, HBC, TD, Canadian Tire, RBC, MBNA, Presidents Choice, American Express and many others. Essentially the coverage for all of these insurance packages is often similar yet the cost per $100 for coverage ranges widely; not always an identical value to the client. Also, you should be licensed to sell insurance; few of their sales agents are not licensed. Credit insurance is a major money centre for financial institutions and people depend on the money they've provisioned for in the event of a claim. After the recent financial meltdown, we know banks are not great at regulating themselves. Certainly, the banks have protected themselves, who is protecting us? Many of the companies named in the Marketplace report are underwritten by American Bankers operating as Assurant Solutions in Canada. They underwrite credit insurance for: GE Money, HBC, TD, Canadian Tire, RBC, MBNA, Presidents Choice, American Express and many others.

Essentially the coverage for all of these insurance packages is often similar yet the cost per $100 for coverage ranges widely; not always an identical value to the client. Also, you should be licensed to sell insurance; few of their sales agents are not licensed.

Credit insurance is a major money centre for financial institutions and people depend on the money they’ve provisioned for in the event of a claim. After the recent financial meltdown, we know banks are not great at regulating themselves. Certainly, the banks have protected themselves, who is protecting us?

]]> By: Friday Links | The Canadian Finance Blog http://canadianfinanceblog.com/2009/06/23/insurance-you-can-do-without-credit-card-protection-insurance.htm/comment-page-1#comment-1172 Friday Links | The Canadian Finance Blog Fri, 11 Sep 2009 09:03:36 +0000 http://canadianfinanceblog.com/?p=651#comment-1172 [...] included Insurance You Can Do Without – Credit Card Protection Insurance in this week’s Cavalcade of [...] [...] included Insurance You Can Do Without – Credit Card Protection Insurance in this week’s Cavalcade of [...]

]]> By: Cavalcade of Risk #87 – Risk Perceptions « ozrisk.net http://canadianfinanceblog.com/2009/06/23/insurance-you-can-do-without-credit-card-protection-insurance.htm/comment-page-1#comment-1158 Cavalcade of Risk #87 – Risk Perceptions « ozrisk.net Thu, 10 Sep 2009 03:49:26 +0000 http://canadianfinanceblog.com/?p=651#comment-1158 [...] on agreeing to do the Cav was against posts on credit cards. Sorry – but I will have to make one exception. This one talks about the popularity of credit card default insurance - and why you probably do [...] [...] on agreeing to do the Cav was against posts on credit cards. Sorry – but I will have to make one exception. This one talks about the popularity of credit card default insurance - and why you probably do [...]

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