Life expectancy and insurance | Waterloo Stories

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Life expectancy and insurance

People are living longer than ever, which means insurance companies and pensions face bigger payouts. Waterloo actuarial scientists are helping them cope.

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One of the most radical shifts in the last century is how much longer people are living. Life expectancy has been steadily rising for as long as there’s been reliable data, which for Canada means since the 1920s. In most senses, that’s a good thing.

But increased life expectancy is a challenge for financial institutions, because when people live longer than expected, they get more pension and health insurance payouts and, in some cases, life insurance payouts. That means increased liability for insurance companies and pension plans.

Luckily for financial services companies, Fairfax Chair and associate professor Johnny Li of Water... http://life-insurance.ucoz.com/news/waterloo_insurance_company/2013-07-01-4336

The Economical Insurance Group

waterloo insurance company

The Economical Insurance Group

The Economical Insurance Group is a general insurer with a Canada wide presence. It is the largest property and casualty insurer in Canada. The group has 700,000 policy holders and 1,300 employees. It was founded in 1871 in Kitchener, Ontario as The Economical Mutual Fire Insurance Company of Berlin. The Economical still is a mutual society. It has $2.5 billion in assets and has more than doubled in size since 1998. It is still a mutual company

Subsidiaries

They have a number of member companies, including the Perth Insurance Company, The Mattei Companies, Federation Insurance Company of Canada, The Missisquoi Insurance Company, Western General, Waterloo Insurance Company, Westmount Financial and Family Insurance Solutions Inc. All Economical member companies sell their policies through independent brokers.

Federation Insurance C... http://insurance-auto.ucoz.com/news/waterloo_insurance_company/2013-05-31-2690