The Canadian Council of Insurance
Regulators (CCIR) after public consultations, agreed on three principles
as best practices in managing actual or potential conflicts of interest.
The principles promote consumer confidence in the insurance industry by
outlining best practices for managing these situations when they arise.
The principles are:
- The client’s interests come first:
Distributors must put the interests of policyholders and purchasers
ahead of their own;
- Make clear any conflicts or
potential conflicts of interest: Consumers must receive disclosure
of any actual or potential conflict of interest that is associated
with a transaction or recommendation; and
- Ensure products are the right fit:
Products recommended must meet the needs of the consumer.
Our company supports these principles. If
you feel that our representatives are not following them, please let us
know. . |
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