What Impact Does Manulife’s Disappointing Financial Results Have on Disability Claimants?

What Impact Does Manulife’s Disappointing Financial Results Have on Disability Claimants?

In Person Share Lawyers

A report in the August 5, 2016 edition of the Globe and Mail, entitled The close: Stocks steady as jobs data awaited, Manulife sinks focuses on worse-than-expected financial results for Manulife Financial for their second quarter earnings.

There is no discussion about the outcomes of claims, however, ways to improve financial results and to return more value to investors is always front and centre for large insurers like Manulife, and as Canadian investors, we all want our financial institutions to remain strong and able to fulfill their investment goals, as well as fulfill the contractual obligations set out in the various insurance products they sell.

Poor return on investments and the low interest environment puts pressure on insurers like Manulife to find other areas to return value to investors. So, doesn’t it make sense that a poor investment environment will put even greater pressure on claims departments to save costs on paying claims?   

In our experience, insurance companies are always looking at ways to save money and reduce claim costs, but difficult financial times make it even more likely that insurers will be under pressure to find ways to deny, shut down or cut-off claims for disability benefits and other claims that they handle.

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