CCIR working on industry guidance on fair treatment of insurance customers

Guidance will outline regulators’ expectations on insurance industry conduct

Ensuring the fair treatment of customers by insurers and intermediaries is key to a new guidance being developed by the Canadian Council of Insurance Regulators (CCIR).

The guidance—expected to be released in draft form for public consultation in the second quarter of 2018—will outline regulators’ expectations regarding the conduct of insurance businesses.

Related: CCIR urges jurisdictions across Canada to approve EPAI

“The development of this new guidance is consistent with our strategic priorities as stated in our 2017-2020 Strategic Plan,” CCIR chair Patrick Dery said in a news release.

CCIR is working with the Canadian Insurance Services Regulatory Organizations to draft the guidance, which will align with the Insurance Core Principles (ICPs)—the international standards for insurance regulation.

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