CLHIA welcomes commitment in budget to protect disabled employeesRelease Date: 03/30/2012 Source: www.investmentexecutive.com Staff Reference: Stephen Frank; Frank Zinatelli
By IE Staff
The Canadian life and health insurance industry says it welcomes a number of the measures announced in Thursday's federal budget.
The Canadian Life and Health Insurance Association says it was particularly pleased to see the commitment to introduce legislation to require federally-regulated employers to insure the long-term disability plans offered to employees. "This is extremely meaningful for Canadian employees who work for companies under federal jurisdiction. Insuring LTD plans is the only way to fully protect those who become disabled if their employer goes bankrupt," says Frank Swedlove, president of CLHIA. "We believe the provinces should adopt similar legislation so all workers are protected."