CCIR Releases First Annual Statement on Market Conduct Public Report
The Canadian Council of Insurance Regulators (CCIR) has published its first Annual Statement on Market Conduct public report about insurer policies and practices as they relate to the Fair Treatment of Customers. Insurers can use the report to compare their overall policies, procedures and performance against industry averages and key benchmarks on fair treatment principles.
Insurers value fair treatment principles, as highlighted in the report. However, to strengthen public trust in the sector, the report also noted that insurers can better demonstrate how they have incorporated these principles.
The report data is collected through the Annual Statement information return. FSRA administers the Annual Statement to Ontario’s insurers and would like to thank the sector for taking the time to respond. CCIR plans to publish future reports on Annual Statement data.
FSRA is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at www.fsrao.ca.