Pacific Place Group website at:

www.pacificplacegroup.com

Real Estate website at:

www.pacificevergreenrealty.com

Holidays & Observances

May 12 Mother’s Day

May 20 Victoria Day

May Seminars

May 1 Equitable Life

May 8 Manulife

May 15 Allianz Travel

May 22 Canada Life

May 29 Sunlife

May NEWSLETTER

Did you know...

FIFTH MONTH IN THE YEAR May is the fifth month of the year in the Julian and Gregorian calendar and consists of 31 days. It is commonly associated as a month of spring in the Northern Hemisphere and autumn (fall) in the Southern hemisphere. It is said that this is the month when plants really start to grow.

May does not start or end on the same day of the week as any other month.

BIRTH FLOWER AND STONE

Its birth flower is the Lily of the Valley and the Crataegus mo-nogyna.

The birthstone for May is the emerald which represents love or success.

Vancouver—Head office (Open May 6, 2019) Surrey

#102—1245 W. Broadway Surrey Central Business Park

Vancouver, BC V6H 1G7 #100-7565 132nd Street

Tel: 604-267-1833 Surrey, BC V3W 1K5

Tel: 778-945-9611

Burnaby Richmond

Metrotown Centre - Metrotower 1 Airport Executive Park

#2129-4710 Kingsway #130-10271 Shellbridge Way

Burnaby, BC V5H 4J5 Richmond, BC V6X 2W8

Tel: 778-945-6900 Tel: 236-521-3799

PPG Locations

Administration Roles and Responsibilities — May 1, 2019

Wayne Yu Corporate Manager 604-267-1833 EXT: 231

Yim Yu Account Manager 604-267-1833 EXT: 244

Mimi Sum Office Co-ordinator 604-267-1833 EXT: 232

Shan Shan Chang Office Administrator (Rmd) Tel: 236-521-3799

Pacific Place-Financial Services Inc./Bridgeforce Pacific Place (Financial Services Division) Tel: 604-267-1833

Hendry Liu General Manager Tel: 604-558-7610 or EXT: 250

Jim Lew Director of Business Development Tel: 604-558-7610 or EXT: 251

James Qiu Sales Manager Tel: 236-521-3799 or EXT: 250

Shalendra Kumar Sales Manager (Surrey) Tel: 604-558-7616

Mohan Poddar Branch Manager Tel: 604-558-7618

Mimi Sum Manulife Investments (Van office) (BBY Tel: 604-558-7614) or EXT: 232

Mable Wong New Business: Manulife Life, HR, PPG Compliance Tel: 604-558-7609

Mkt materials (Van), Software updates or EXT: 225

Angel Li Policy Service, Travel Insurance, New business Equitable Life Tel: 236-521-3791 or EXT: 222

Manulife investments (Rmd office), Mkt materials (Rmd)

Elia Chan Contracting, New Life: BMO, IA, IA Excellence, Group Tel: 604-558-7608

Manulife Investments (Bby), Software updates

Winnie Chan Commissions, Marketing Materials (Bby)

Tiffany Tang New business/Investments: Assumption , Canada Life, CPP, DFS, Tel: 604-558-7609

Empire Life, Humania, Ivari, RBC, SSQ, Sunlife, The Edge,

Software updates on dropbox

Vancouver Burnaby Surrey Richmond

Pacific Place-Insurance Services Inc. (General Insurance Division) Tel: 604-267-1833

Kate Zhang House: New Quote & Endorsements, Claims EXT: 228

Angus Yiu ICBC, IT EXT: 243

Michael Hu Condo Quotes EXT: 239

Tiffany Yu Renewal, Reminder and payments EXT: 226

Emily Wu Renewal, Reminder and payments EXT: 226

Evan Shi Condo Quotes/ICBC EXT: 223

Yuki Li ICBC, ICBC Batching EXT: 237

Hendry Liu Commercial Insurance EXT 250

James Qiu Commercial Insurance EXT 250

Pacific Place-Arc Realty Ltd. (Real Estate / Property Management Division) Tel: 604-267-1833

Lo-Ming Lee Managing Broker EXT: 233

Jason Wood Business Development Consultant EXT: 230

Bingji Hao Managing Broker Assistant EXT: 233

Teresa Chiang Real Estate Conveyancer EXT: 241

Jimmy Ng Property Management Tel: 236-521-3789

Yiyi Yan Administrator/Conveyancer EXT 241

Pacific Evergreen Realty Ltd. (Real Estate Division) Tel: 604-267-1833

David Yang Managing Partner Tel: 604-250-3696

Lo-Ming Lee Managing Broker EXT: 233

Jason Wood Business Development Consultant EXT: 230

Bingji Hao Managing Broker Assistant EXT: 233

Julia He Real Estate Conveyancer EXT: 224

Vancouver Burnaby Surrey Richmond

• L I F E I N S U R A N C E U P D A T E S •

In the News

Get ready to sell new products

Pre-fill applications for even faster processing

Competitive Edge Newsletter

Lower Premiums on Joint Last to Die Plans

Choosing the best simplified solution

Loyalty bonus up to 30% more commissions!

APEXA aims to be adopted as industry standard

Personal Health & Dental Plans

• L I F E I N S U R A N C E U P D A T E S •

Understanding Life Insurance Brochure

IA Connected—Be in the know!

New immigration guidelines

LaCapital - Newsletter

Infosource News

Our digital experience is improving! Find out how

New functionality for 5575 Insurance Policies

Renewal Commission Rates

SSQ New fund offerings

Solutions Magazine

The credit insurance rider now available at UL Mutual

Compliance Department

Pacific Place Financial Services Inc. / Bridgeforce Pacific Place Inc.

Is your client replacing or even considering replacing their current coverage? What is considered a replacement, and what is your responsibility? Read this informative article from Ivari.

Ivari LIRD (Replacement) Requirements

Compliance Department

Pacific Place Financial Services Inc. / Bridgeforce Pacific Place Inc.

Q&A

Q: When assisting a client with key person insurance, is it a requirement to complete a cor-porate/business FNA? How formal does it need to be? Can it just be a note in the file that illustrates there was a discussion around the amount of coverage?

A: All insurance sales must be justified numerically based on need. Of course it is never a perfect science, but the numbers, math and any discussion notes should be present in your client file and available for inspection/audit by regulators and carriers. Your E&O insurance provider may also require your FNA and complete client file in order to defend you against a client complaint or lawsuit.

We are pleased to announce the Insurance Council of British Columbia ("Council") is now offering the ability to complete your annual filing through our online portal.

To do this you will need to register for an online portal account and link it to your licence(s). The process on-ly takes a few minutes and once completed you can:

Pay for and complete your annual filing online with your Visa, Mastercard, or debit card

Verify and update your contact information (in accordance with Council Rules)

Check on the status of your filing

See a recent (post 2008) history of your licence(s) To register your account, you will be required to provide your date of birth, and this unique per-

sonal identification number (PIN):

000059366 (Note: you must use all digits including any leading zeros)

Click here: Insurance Council Portal to begin the registration and filing process. If the information that you provide does not match the information that Council has on file for you, you will need to contact Council to update your information prior to registering for an online account. If you require instructions to help you with the registration and online filing process click here.

If you have questions or require assistance, please contact Council at: Within Metro Vancouver: 604-688-0321 Within Canada, toll-free: 1-877-688-0321 Press 5 to reach the annual filing support line Press 6 for help with accessing the online portal

Please note that your annual filing must be completed and the filing fee of $225.00 must be received by Council by Monday June 3, 2019. If you file after Monday June 3rd, you will be required to pay a late filing fee of $200 for a total filing cost of $425.00. Any licensees who have NOT submitted their annual filing by Tuesday August 6, 2019 will have their licence(s) terminated.

Traditional filing methods are still available. For further information please visit Council's website.

Thank you and enjoy your new portal experience!

Insurance Council of British Columbia Suite 300, 1040 West Georgia Street, PO Box 7, Vancouver, BC V6E 4H1 Tel: 604-688-0321 Toll Free within Canada: 1-877-688-0321 info@insurancecouncilofbc.com | insurancecouncilofbc.com

Annual Filing Now Open Online!

Great-West Life, London Life and Canada Life are coming together under one brand – Canada Life – effective immediately, the companies have announced.

Read more →

If you haven’t heard… Great-West, London Life and Canda

Life come together under one brand

Pacific Place Financial Services Annual Conference

Qualification Period: January 1, 2019—December 31, 2019

Travel Period: 2020

Qualification: 75,000 FYC

Be part of this annual PPFS conference on us!

This event is not to be missed!

There is lot’s of time left to submit cases from all carriers.

Check with Mable or Mimi to see how close you are to attend.

A Broken ankle in Orlando could cost

$45,000US during a March Break family trip

Unexpected costs beyond medical care could be financially

devastating without travel insurance

Read full story HERE

Be aware if you are including your clients email address for policies up to

$1M of coverage, the policy will be sent to them electronically.

*** If you want to have a hard copy of the policy please remember to leave

this blank.

Manulife app NN700E

If you want E-Delivery… here are the criteria.

ICBC UPDATE

ICBC gets green light for interim 6.3

per cent rate hike

The Insurance Corporation of B.C. (ICBC), the province's public auto insurer, has been approved to raise insurance rates by 6.3 per cent.

The B.C. Utilities Commission (BCUC) has approved ICBC's request for an interim basic insurance rate increase effective April 1, 2019.

The insurance corporation applied for the proposed rate hike in December as the B.C. government at-tempted to address what Attorney General David Eby described as a "financial dumpster fire" at ICBC.

Eby revealed in November that ICBC was set to lose $890 million in 2018-2019, following a $1.3 billion net loss in 2017-18.

According to ICBC, the hike means "an average increase of less than $60 for personal customers' basic insurance coverage."

A BCUC panel will make a final decision as to whether or not the rate hikes will become permanent.

Effective April

As of April 1, all new and renewal policies will be subject to the rate hike.

According to the public insurer, the temporary approval "will lessen the depletion of ICBC's already low basic insurance capital while the BCUC reviews the full application."

The province has pointed the finger at the previous government for leaving the insurer in financial ruin. Since the start of the 2017 financial year, ICBC is said to have lost more than $2 billion.

In January, Eby warned drastic changes would be necessary.

According to ICBC, injury claims costs have soared by 43 per cent in just five years, totalling roughly $3.67 billion in 2018 alone.

Reforms rollout

In an attempt to stem the losses, the province has already rolled out a list of reforms including higher fines for repeat bad drivers, an independent dispute resolution system and a $5,500 limit on payouts for minor injuries.

Looking for office space?

We have office space for rent!

Please contact Mimi Sum or Wayne Yu if interested.

Surrey Central Business Park

5 ways to improve FINTRAC compliance

1. Verify the corporation and the person signing:

The main issue identified in the study is real estate purchased by numbered companies that may not have any real con-nection to Canada and are used as a vehicle to launder money. Make sure you ask for the articles of incorporation or a recent tax assessment to make sure the person signing for the company has authority. Then, personally identify the per-son signing.

2. Are there other directors, shareholders and addresses for the corporation?

It is also important to ask if there are any other directors in the corporation. If so, their names and addresses must be listed. If anyone else owns 25 per cent or more of the shares of the corporation, these shareholders and their addresses must also be listed. Also, look for the registered office of the corporation as well, which should be on the articles of incor-poration or the tax assessment.

3. Ask the lawyer if you cannot verify the information yourself.

The buyer’s lawyer will also have to verify that the person signing for the company has authority. If you are not sure how to read the documents, consult with the buyer’s lawyer, who can review all the company documents contained in the minute book, to make sure you have all the proper information.

4. Where is the money coming from?

No one expects you to be a detective. Yet under the FINTRAC guidelines for completing the receipt of funds form, it is requested that you obtain verification of the account number that the deposit money is coming from. If you have a certi-fied cheque it will identify the account, but it is more challenging if a bank draft is used because the account information is not on it.

While FINTRAC asks that you obtain either a void or cancelled cheque from the account that was used, or a bank form showing the account information, the fact is that many clients will refuse to give this to you due to fears about identity theft. In that case, ask the client directly if the deposit came from their account and then write on the form something to the effect of, “Buyer confirms deposit came from their bank account.”

5. Is company officer connected to your community?

When the person signing for the company is connected to your community, there is less likelihood for fraudulent activi-ty. This is why it is so important to clearly complete the occupation of the buyer on the FINTRAC forms, because it shows how the buyer is connected to your community. Different precautions will have to be used when you are dealing with overseas buyers.

What “the customer is always right” actually

means

This was ingrained inme: the customer is always right. Even if they are wrong.

You’ll never argue them into submission or agreement. Concede. Serve.

When you are dealing with a customer or client, whether they are right or wrong,

you do everything and fulfill your obligations.

Read full article HERE

Read full article HERE

Real estate ‘stalker?’ Female realtors

warned of suspicious man trying to get

them alone

Female realtors in Metro Vancouver are being warned about a “suspicious” man who appears to be trying to get them alone.

Real Estate Board of Greater Vancouver president Ashley Smith

said there have been multiple reports about the man approach-

ing women either by phone or in person at open houses, and try-

ing to set up private showings.

Congratulations to Navy Chen!

38:25

Almost as fast as the winner of the Sun Run Justin Kent at 29:30