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What's New

December 2008
 
CCIR - Final Report on the Review of the Implementation of the Three Principles for Managing Conflicts of Interest

The CCIR has released its final report on the above noted topic. Three principles previously identified by the CCIR as being key to providing consumer confidence in the insurance industry are:

1. Priority of Client's Interest

2. Disclosure of Conflicts or Potential Conflicts of Interest, and

3. Product Suitability

After reviewing the practices of intermediaries and insurers, the CCIR has determined that support for the three principles is high and that no further steps by regulators are necessary at this time.  The report recommends that individual regulators continue to monitor support for the principles and appreciates industry's continued support.  The report can be found on the CCIR website at ccir-ccrra.org. The CCIR will be providing aggregate results of the surveys of insurance agents and insurance companies that were conducted as a part of this review so that participants can compare their answers to the industry results.   

 

 

 

 



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