Province should have warned consumers, BC opposition says. – Allegations that insurance giant Manulife benefited from the sale of illegal mortgage insurance that defrauded thousands of Canadians have led to three class action lawsuits and questions in the B.C. legislature where opposition members claim that the province should have warned consumers.
The province last year fined three companies — including Manulife Financial Corp., the Manufacturers Life Insurance Co., and Benesure Canada Inc. — for breaking laws that govern British Columbia’s insurance industry.
While Finance Minister Mike de Jong has said that nobody was harmed by the scheme, the lawyer whose firm has filed two of the class action suits says thousands of mortgage holders were defrauded, some without their knowledge.
Andrew MacLeod – the Tyee – 15 Apr 2015.
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