In recent years, regulators at the Federal and Provincial level have increased their requirements from insurers. A number of these requirements deal with the protection of the consumer, some of which are more specifically targeted at insurers’ interaction with the consumer. In these instances, the consumer needs to be advised of his/her rights and responsibilities. As well, the regulator has asked insurers to improve their internal processes within the companies in their dealings with brokers and agents; processes that need to be well documented and reported to the regulator.
In particular, the insurer’s Complaint Handling Process and the insurer’s Privacy Code need to be made available to the public. In turn, the Insurance bureau of Canada developed the “Code of Consumer Rights and Responsibilities” which constitutes the industry’s public response to conflicts of interest. These conflicts of interest are managed internally by mutual insurers through their “Code of Business Conduct for Agents and Brokers” and their “Code of Business Conduct for Employees and Directors”. You will find in the side menu of this section of the Web site the consumer protection policies that CAMIC suggests its members to adopt with respect to your privacy, complaints, your rights and managing conflicts of interest.