Insurance for education savings schemes chosen by Chubb Canada

Chubb Canada has been chosen as the selected provider to provide insurance for the education savings plans distributed by Children’s Education Funds Inc. (CEFI).

CEFI offers Registered Education Savings Plans (RESPs), which are savings accounts designed for parents interested in saving money for their children’s post-secondary education. Parents interested in saving money for their children’s post-secondary education can benefit from these plans.

Having been established in 1991, the company, with its headquarters in Ontario, provides three different types of registered education savings plans (RESPs): the group option plan, the achiever plan, and the self-initiated option plan. According to a notice on the company’s LinkedIn website, a trained and licensed dealing representative supports each of these programs.

Partners in insurance are tapped by CEFI
CEFI issued a press release on Thursday announcing its decision to collaborate with Chubb Canada to enhance the services offered to its members.

Furthermore, it designated NFP Canada as the broker of record for the insurance program that it established.

CEFI stated that Chubb Canada has been providing insurance to clients in Canada for many years. We are thrilled to announce that we will be collaborating with Chubb Canada to continue providing services to our subscribers. We are glad to report that NFP Canada has been chosen as our insurance program’s broker of record.

Chubb will begin providing insurance for CEFI’s RESPs starting on January 1, 2024, according to the information provided in the press release.

Updates from Chubb
Last week, Chubb announced the appointment of Frederico Spagnoli as the division president of consumer lines for Overseas General Insurance, the company’s overseas general insurance arm.

Within the Canadian market, Chubb also formed a partnership with the cybersecurity company NetSPI in order to improve its cyber products for companies operating in a variety of industries. Specifically, the cooperation has made it possible to gain access to increasingly sophisticated technologies for attack surface management and penetration testing.