Canadian regulators publish principles of conduct for insurance intermediaries

The Canadian Insurance Services Regulatory Organizations (CISRO), a national body made up of provincial and territorial authorities that regulate insurance intermediaries, has published principles for insurance intermediaries that will help ensure the fair treatment of customers in the life & health and property & casualty insurance sectors.

The Principles of Conduct for Insurance Intermediaries (Principles) were developed with stakeholder feedback in summer 2021. The Principles outline shared minimum standards of professional behaviour and conduct expected of insurance agents, brokers, adjusters and other business entities that distribute insurance products and services across Canada.

The document is intended to complement the Guidance Conduct of Insurance Business and Fair Treatment of Customers issued by the Canadian Council of Insurance Regulators (CCIR) and CISRO. The Principles are aimed to support increased consumer protection by helping Canadians better understand the high standards of ethics and integrity they should expect from insurance intermediaries.

Visit the CISRO website for more information and to review the Principles and accompanying Q&A.