Insurance Consumer Protection Efforts

Insurance regulators from across Canada focused on a full agenda of consumer issues at a recent two-day meeting in Halifax. The Canadian Council of Insurance Regulators agreed to establish a working group, in conjunction with provincial insurance councils and associations, to upgrade minimum standards at a national level for licensing of insurance agents.

The council explored initiatives relating to assisting consumers in resolving claims disputes and insurance direct-marketing practices including telemarketing.

In addition, the insurance and securities regulators from across Canada are collaborating to enhance consumer protection rules for variable insurance contracts and mutual funds.