# Wednesday, 21 December 2005
                 

It is becoming considerably more important that customers are well informed about insurer-agent relationships and agent compensation related to the products and services they buy.

In June 2005, Canadian insurance regulators released a Consultation Paper, which included a proposal to regulate what agents must disclose about their insurer relationships and compensation. The insurance industry has responded by stating that they believe an industry-led standard is preferable to such regulation.

For over a year, several insurers have been working with the Canadian Life & Health Insurance Association (CLHIA) and its industry counterparts to develop guidelines for agent disclosure. Earlier this year, the industry released an Advisor Disclosure Reference Document that sets out those guidelines. A modified version of the document for group benefits and group retirement business was released in September. The CLHIA has urged regulators to allow these guidelines to be fully implemented and assessed before taking further regulatory action.

Insurers and agents are advised to work together to ensure customers have clear and complete information. They need to disclose about the agent’s business relationships with insurers, agent compensation (including any potential incentive reward), and any conflicts of interest. 

posted on Wednesday, 21 December 2005 02:25:07 (GMT Standard Time, UTC+00:00)  #   
# Thursday, 08 December 2005
                 

HealthQuotes.ca is happy to announce the launch of our health and travel insurance blog.

We will be posting insurance related topics that we feel will be of use to the Canadian public.

We encourage feedback, and would like to establish a flow of information and dialog between us as brokers and the public.

All postings are stored so that people can search for topics of particular interest.

Enjoy!
The HealthQuotes.ca Team

posted on Thursday, 08 December 2005 18:45:50 (GMT Standard Time, UTC+00:00)  #   
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