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Monthly Archives: August 2015

National Financial Literacy Conference Releases Report

GIO Canada is always looking to strengthen the conversation surrounding Financial Literacy, so we’re excited to announce the release of the final conference report from the 2014 National Financial Literacy Conference, presented by the Financial Consumer Agency of Canada.

Back in November 2014, GIO Canada participated in the National Financial Literacy Conference and helped to facilitate some of the round-table discussions. This was Canada’s fourth national conference on the topic and brought together close to 300 delegates to engage in discussions on the topic. It was a great success and GIO was proud to be a part of it.

Some conference topics included:

  • Exploring ways to move the dial on financial literacy indicators
  • Preliminary results from the 2nd Canadian Financial Capability Survey
  • Examples of successful collaboration
  • Best practices in program evaluation
  • The launch of a national financial literacy resource
  • Case studies in changing financial behaviour

The conference report summarizes the main themes, ideas and discussion points that emerged in a PDF viewable by clicking here.

We hope that this report will prove thought-provoking and will generate more discussion in the important topic of Financial Literacy.

Uber: More Insurance Issues from the App

Uber, the socially driven, ride-sharing app, has been all over the news lately. For those who are not familiar, Uber is an application that you download onto your smartphone, and once installed you simply open the app and summon a vehicle. The app knows where you are and advises on time of arrival. You can even follow the vehicle as it makes its way towards you. Payment is by the credit card you installed with the app. No cash changes hands.

Traditional taxi companies are upset and many have tried to block this program. Municipalities and the courts are reviewing several cases. Setting licensing, tax and legal issues aside, we are interested in the insurance implications.

Your car’s insurance coverage and ratings are based upon how you are using your vehicle. Typical questions include whether you drive to work or not, and the length of that drive. While you may not have been asked if you are using your vehicle for ride-sharing such as Uber, we strongly encourage full disclosure. Car pooling with your friends or colleagues every morning is a different risk classification than joining the Uber team.

If you’re thinking of earning some extra income by becoming an Uber driver, we would encourage you to call your insurance broker or company agent.