International Advantage: The Advantage Newsletter was designed by our team of leading professionals who exclusively service the international business sector.
Group Benefits & Retirement Services
Proposed Changes to Federal Recovery and EI Benefits
In its recent 2021 budget, the federal government proposed a variety of changes to its benefit programs.
The proposed changes include providing up to 12 additional weeks of the Canada Recovery Benefit, to a maximum of 50 weeks. The first 12 weeks of this benefit would be paid at $500 per week. The remaining eight weeks would be paid at $300 per week.
Multiple changes have also been proposed to make Employment Insurance (EI) more accessible to Canadians.
The changes include:
- Maintaining uniform access to EI benefits across all regions
- Supporting multiple job holders and those who switch jobs by ensuring that all insurable hours and employment count towards their eligibility, and
- Simplifying many rules around EI to ensure Canadians can receive benefits sooner
It has also been proposed that the regular EI benefits be extended to no later than November 20, 2021, if needed.
We are analyzing the impact these changes may have to disability benefits. We will provide more details later in the year.
Risk Management Update
There is a common misconception that Errors & Omissions (E&O) policies are for professionals that give advice such as doctors, lawyers, and accountants. But, E&O insurance isn’t just to cover potentially bad advice, it can also cover mistakes – and we all make mistakes.
Learn more about why a manufacturer would need professional liability or E&O coverage.