11:37:23 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



Manulife Financial Corp
Symbol MFC
Shares Issued 1,805,798,064
Close 2024-03-12 C$ 32.25
Market Cap C$ 58,236,987,564
Recent Sedar Documents

Globe says Manulife, rivals see preferred deals panned

2024-03-12 07:37 ET - In the News

Also In the News (C-IFC) Intact Financial Corp
Also In the News (C-L) Loblaw Companies Ltd
Also In the News (C-TD) Toronto-Dominion Bank

The Globe and Mail reports in its Tuesday, March 12, edition that health care professionals warn that auto insurers are limiting patients' choices by signing exclusive deals with providers for treating injuries sustained in car accidents. A triple bylined item in The Globe reports that Manulife Financial and Shoppers Drug Mart had proposed an agreement that brought the issue of preferred provider networks (PPNs) into the spotlight. The deal, which was later cancelled, would have limited chronically ill patients to purchasing their medication only at pharmacies owned by Loblaw. Similar agreements have become increasingly common across the insurance industry -- including among auto insurers. According to health care professionals who work with accident victims, certain deals tend to favour big physiotherapy chains such as Loblaw-owned Lifemark. These deals may also lead to conflicts of interest, as the terms of the contract could unfairly decide the type of treatment a patient receives. Auto insurers Aviva Canada, Intact Financial and TD Insurance told The Globe they currently operate open networks. Lifemark confirmed it is "a preferred provider network for a number of insurance companies."

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