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Insurers may not pay if you go to coronavirus hot spots – Vancouver Sun

Published

5 years ago

March 10, 2020

Insurers are warning you many have to cover your own hospital costs if you ignore Canadian travel advisories

People watch embarkation preparations being made aboard the Grand Princess cruise ship carrying passengers who have tested positive for coronavirus docked at the Port of Oakland in Oakland, California.

KATE MUNSCH / REUTERS

If you are tempted to take advantage of a cheap flight to COVID-19 hot spots such as Italy or China, you could be paying your own hospital bills if you get sick.

Pacific Blue Cross is warning its clients that that will not be covered for medical expenses related to infectious disease if a travel advisory or health warning for your destination is issued by the Canadian government and publicized before your departure date.

The company advises members to check for government health advisories for their destination.

“If you have or want to purchase travel medical or trip protection insurance or if you are covered under a group travel medical plan, you should be aware of your coverage before you travel,” the company said in a statement.

Canada has issued Level 3 travel advisories for China, Iran and northern Italy to “avoid non-essential travel.” Travelling to a country under a Level 3 or 4 warning typically voids your coverage for medical expenses.

In practice, that means that your medical claims will be honoured as long as there is no Level 3 or 4 advisory for your destination on the effective date of your medical coverage, travel industry insiders say.

A Level 1 travel advisory means exercise normal security precautions, Level 2 advises a high degree of caution. Level 3 advises avoiding non-essential travel, while Level 4 advises Canadians to avoid all travel to the affected region.

Level 1 health notices have been issued for Singapore and Hong Kong, and Level 2 notices are in force for South Korea and Japan.

Confirm the exact terms of your health care and travel coverage with your insurer, as there is considerable variability among companies and policies are changing almost daily in response to the growing crisis.

Canada Life Financial “will continue to assess” claims related to COVID-19, including those that occur during travel to a country with a travel advisory warning.

The company has expedited disability claims related to COVID-19 and is also considering claims from people under quarantine at the direction of a physician, a company official said.

BCAA also will not provide trip cancellation or trip interruption coverage on claims related to COVID-19 on policies purchased after March 5. TuGo will not provide coverage for claims related to COVID-19 on policies purchased on or after March 4.

The Public Health Agency of Canada and Canada’s chief public health officer, Theresa Tam, have also recommended that people “avoid all cruise ship travel.”

Canadians who take a cruise against that advice may not be able to return home on a government-organized repatriation flight, or may have to pay the cost of returning should they become ensnared in a quarantine, the agency said.

If the coronavirus that causes COVID-19 is detected on your ship, you could be subject to quarantine aboard the ship or in a foreign country under local rules. Your access to consular services may also be limited by local authorities.

Ports in India, Malaysia, Doha, Sri Lanka, South Korea, Taiwan and the United Arab Emirates have banned cruise ships outright, while many other countries have banned passengers from China, Iran, Italy and Korea from disembarking.

The cruise warning is not a Level 3 advisory, so there are no insurance implications, yet. It’s effect has been devastating, nonetheless.

“That advisory is the single biggest blow to the industry since this virus became headline news,” said travel agent Claire Newell. “I was surprised because there are hundreds and hundreds of ships in regions that haven’t been affected.”

The onslaught of holiday cancellations has triggered an overhaul of the insurance products being offered to travellers, many of them temporary offers.

“A lot of package tour operators are offering worry-free clauses in their cancellation policies,” she said. “The industry has been hit very hard and they are trying to spur bookings because people are afraid.”

However, the cancellation windows vary from 30 days before departure to as little as 48 hours. Most allow you to rebook free, but do not offer refunds.

Discounts of up to 75 per cent are available for people willing to book a cruise.

“That’s what is going to get people over their fear, a hell of a good deal,” she said, adding that more than 90 per cent of people who are booking a holiday also buy cancel-for-any-reason insurance.

The COVID-19 epidemic is fuelling demand for “self-driving” holidays and Canadian destinations such as Niagara and the Gaspé, as well as destinations such as Iceland, Scotland and South America, where only a handful of cases are confirmed.

“There is a lot of interest in Peru, which is a great bucket list destination,” said Newell.

rshore@postmedia.com

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Business

Canada Goose to get into eyewear through deal with Marchon

Published

3 hours ago

September 19, 2024

Anne Joseph

TORONTO – Canada Goose Holdings Inc. says it has signed a deal that will result in the creation of its first eyewear collection.

The deal announced on Thursday by the Toronto-based luxury apparel company comes in the form of an exclusive, long-term global licensing agreement with Marchon Eyewear Inc.

The terms and value of the agreement were not disclosed, but Marchon produces eyewear for brands including Lacoste, Nike, Calvin Klein, Ferragamo, Longchamp and Zeiss.

Marchon plans to roll out both sunglasses and optical wear under the Canada Goose name next spring, starting in North America.

Canada Goose says the eyewear will be sold through optical retailers, department stores, Canada Goose shops and its website.

Canada Goose CEO Dani Reiss told The Canadian Press in August that he envisioned his company eventually expanding into eyewear and luggage.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:GOOS)

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Business

A timeline of events in the bread price-fixing scandal

Published

4 hours ago

September 19, 2024

Anne Joseph

Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.

Here’s a timeline of key events in the bread price-fixing case.

Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.

Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.

Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.

Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).

Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.

June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.

Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”

Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.

July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.

Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)

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Business

TD CEO to retire next year, takes responsibility for money laundering failures

Published

7 hours ago

September 19, 2024

Anne Joseph

TORONTO – TD Bank Group, which is mired in a money laundering scandal in the U.S., says chief executive Bharat Masrani will retire next year.

Masrani, who will retire officially on April 10, 2025, says the bank’s, “anti-money laundering challenges,” took place on his watch and he takes full responsibility.

The bank named Raymond Chun, TD’s group head, Canadian personal banking, as his successor.

As part of a transition plan, Chun will become chief operating officer on Nov. 1 before taking over the top job when Masrani steps down at the bank’s annual meeting next year.

TD also announced that Riaz Ahmed, group head, wholesale banking and president and CEO of TD Securities, will retire at the end of January 2025.

TD has taken billions in charges related to ongoing U.S. investigations into the failure of its anti-money laundering program.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:TD)

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