Canadian Life and Health Insurance Facts - 2021

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Canada's life and health insurers know that millions of Canadians count on us during times of crisis. For all of us, 2020 was one of those times. Like you, insurers experienced the disruption and tragedy of the COVID-19 pandemic. The crisis tested and demonstrated the resilience of the life and health insurance industry and the importance of our products for Canadians' well being. From the very start, our call centres responded to thousands of additional calls and claims for travel cancelation insurance, and travel health insurance. Insurers proactively provided premium reductions and deferrals to help employers through the pandemic and to protect the workplace drug and health benefits their employees count on. We invested heavily in new online solutions to help Canadians access their benefits in a timely fashion even at the height of the crisis. We worked with unions and others to make sure truckers who keep Canada's supply chain working would have coverage against COVID-19 even in the US. We also collaborated with health practitioners and governments to help mental health services and paramedical services like physiotherapy and chiropractic care successfully transition to virtual care. These steps meant that over 26 million Canadians ended 2020 with access to medications and other health care supports — which is approximately the same number of Canadians who had coverage at the start of the year. Insurers remained financially strong, with capital reserves well above regulators' expectations. We hope that this edition gives you a sense of the resilience of our members, their people and their products and how they helped to support so many through such a difficult year. Stephen Frank President and CEO 1 Canadian Life & Health Insurance Facts // 2021 Edition

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