CCIR publishes observations on life and health insurer adoption of fair treatment of customers principles

The Canadian Council of Insurance Regulators (CCIR) has published key observations on life and health insurers’ adoption of fair treatment of customers principles. The report includes observations and recommendations to help insurers better protect insurance consumers. 

CCIR reviewed insurers’ business practices to evaluate their application of fair treatment of customers principles across distribution channels. The reviews were a joint effort among Canadian insurance regulators to improve regulatory efficiency. The Financial Services Regulatory Authority of Ontario (FSRA) is a member of CCIR. FSRA was actively involved in these reviews as part of its 2020-2021 Key Areas of Assessment initiative.

Key observations from the report include:

  • Corporate governance and culture: insurers did not fully assess whether their policies and procedures incorporate fair treatment of customers principles or create action plans to implement these principles

  • Agent training and delegating arrangements: contractual agreements or supporting documentation between insurers and intermediaries did not set clear expectations regarding roles and responsibilities

  • Consumer information: information provided to consumers was not always explained in a clear, simple, complete and accessible manner

Life and health insurers can use the detailed recommendations in this report to assess existing practices within their organizations and better meet expectations outlined in the Guidance: Conduct of Insurance Business and Fair Treatment of Customers

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FSRA is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at