Insights

Tax season is here. For many, it brings with it a desire to get a jump start on their financial outlook for the year ahead. McGill University, in partnership with RBC Future Launch and The Globe and Mail, has unveiled a free personal finance essentials course for individuals to take charge of their financial situation. The spring 2021 course, which is open now until April 25, is taught by McGill's Desautels Faculty of Management professors with subjects such as budget building, investing, under

Putting people first is the NFP way and that extends to making sure our clients are aware of the risks they face. Scott Saddington joined NFP last month as senior vice-president, Financial and Executive Services & Insurance, to help grow the firm's new Complex Risk Solutions Group in Canada. As an industry veteran with nearly 30 years of experience, he helps clients better understand their current and future risks and primarily help overcome significant balance sheet challenges. NFP sat dow

The first half of 2020 revealed a looming risk: claims for trade credit insurers covering unpaid trade receivables - outstanding invoices on sales that are shown as a major asset on the company balance sheet - were growing. Insurers' claims for unpaid receivables in North America were up 53% over last year, and few companies were immune. Government injections of liquidity and more flexible banking terms may have only created a near term protective bubble of sorts. According to PwC, most of thes

Just as the COVID-19 pandemic continues to evolve, so is the travel insurance industry. Two key issues are currently taking place during the second wave of the pandemic with people and airlines consistently trying to keep up with public health regulations. Negative COVID-19 Tests The Canadian government made it mandatory for travelers five years old and above to produce a negative PCR COVID-19 test prior to returning to the country, effective January 7. Passengers won't be allowed to board if t

A recent study shows there are significant advantages to delaying Canada and Quebec Pension Plans until age 70. The paper from the National Institute of Ageing and FP Canada Research Foundation says people who elect to take benefits at age 60 instead of waiting can lose over $100,000 of lifetime income. A $1,000 monthly benefit at age 60 increases to $2,218.75 at age 70 with inflation protection built in to the pension plan. Don't want to wait until age 70? The paper found that even delaying be

As COVID-19 numbers - infection rates, hospitalizations and deaths - remain at unsettling levels, recent news regarding vaccine progress is providing a much-needed dose of hope. Health Canada authorized use for the Pfizer and Moderna vaccines in December and priority groups have been receiving doses ever since with the goal of completing immunizations across the country in 2021. Federal and provincial public health officials continue to encourage people to wear masks, distance, get flu shots an

As Canada and other governments around the world create plans for vaccine distribution, Canada is looking to tackle other health issues caused by the COVID-19 pandemic. Former Innovation Minister and Liberal MP Navdeep Bains says confronting the mounting mental health crisis is a top goal for 2021. Whether it's the suffering businesses in his community or behaviour changes in his children who have been isolated from friends and classmates since the pandemic started, Bains has experienced the co

The entire infrastructure for transporting goods around the world shifted dramatically in 2020 due to the COVID-19 pandemic. Supply chains were tested across industries, highlighting the need for continuity plans. It started last March and April when the virus started to severely impact operations around the world. Public health regulations prevented some goods from being shipped to certain locations, while the demand for other materials, such as personal protective equipment, soared and shorta

The holiday season will look different for many this year with public health regulations preventing several traditions from taking place. Elements that would normally cause stress and anxiety this time of year such as deadlines, financial obligations and family commitments have only been amplified as a result of COVID-19. Increased case counts, lockdowns, travel restrictions and quarantine rules from the second wave are causing distress. The mental health of people - employees, clients, supervi