The following information is presented by the Carleton Research Department. In order to keep our customers abreast of what is happening in the consumer credit and credit insurance industries, the following law changes have been compiled for your review. Please check to see if any of the listed changes will impact your operations.
*This alert is intended to convey general information only and not to provide legal advice or opinions.
The Commissioner of Insurance issued a Bulletin on July 21, 2017 specifying the prima facie credit insurance rates to be in effect for a three-year period starting January 1, 2018.
The new rates will be:
CREDIT LIFE INSURANCE
CREDIT ACCIDENT AND HEALTH INSURANCE – 12 Month Rate per $100 of initial insured indebtedness