Articles by Nichola Saminather

Canadian Life Insurers to See Double-Digit Profit Drop in Q2 on COVID-19 Impact

Canadian life insurers are set to see double-digit earnings decreases in the second quarter as the pandemic-induced economic slowdown has ushered in decade-low interest rates and weighed on sales. Analysts predict declines in underlying earnings per share of between 10% …

Insurance Costs Rising for Cannabis Firms as Unhappy Investors File Slew of Lawsuits

Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and misinformation, with more such action expected. Some …

Cryptocurrency Firm Quadriga Collapsed Due to Late Founder’s Ponzi Scheme: Regulator

Last year’s collapse of Canadian cryptocurrency trading platform QuadrigaCX was due to a Ponzi scheme operated by founder Gerald Cotten, who died suddenly in December 2018, the country’s biggest securities regulator said on Thursday. Cotten died at age 30 from …

Canadian Health Insurers Reluctant to Provide Cover for Medical Marijuana

Sun Life Financial, Canada’s No. 2 insurer, recently started covering medical marijuana in its Canadian health insurance plan – more than 17 years after the country first legalized it. The coverage, which requires employers to pay a premium, extends only …

Marijuana Sales to Be Legal in Canada Starting in October: Trudeau

Marijuana sales will become legal in Canada beginning October 17, Prime Minister Justin Trudeau said on Wednesday, making it the first major economy to legalize its recreational use. Stocks of marijuana producers, which have rallied in anticipation of legalization, extended …