Canada Life has become a member of the Canadian Association of Financial Institutions in Insurance, and David Fear, Senior Vice-President, Creditor Insurance at Canada Life has been appointed to CAFII’s Board of Directors.
Toronto, April 30, 2018 – The Canadian Association of Financial Institutions in Insurance (CAFII) is pleased to announce that The Canada Life Assurance Company (Canada Life) has joined the Association as a new member. In that connection, David Fear, Senior Vice-President, Creditor Insurance at Canada Life has been appointed to CAFII’s Board of Directors.
Canada Life, together with Great-West Life and London Life, serves the financial security needs of 13 million people across Canada.
“We are pleased to welcome Canada Life as a CAFII member,” said Peter McCarthy, Chair of the CAFII Board. “We are pleased Mr. Fear is joining our Board, and look forward to the contributions he and his colleagues at Canada Life will make in helping our Association fulfill its mission.”
“As Canada’s first domestic life insurance company, we are pleased to join many of our industry peers within CAFII,” said Mr. Fear. “We look forward to working together to advance the interests of Canadians.”
CAFII is a not-for-profit industry Association dedicated to the development of an open and flexible insurance marketplace. It was established in 1997 to create a voice for financial institutions involved in selling insurance through a variety of distribution channels. Its members provide insurance through client contact centres, agents and brokers, travel agents, direct mail, branches of financial institutions, and the internet.
CAFII believes consumers are best served when they have meaningful choice in the purchase of insurance products and services. Its members offer travel, life, health, property and casualty, and creditor’s group insurance across Canada. In particular, creditor’s group insurance and travel insurance are the product lines of primary focus for CAFII, along with alternate, direct distribution channels.
CAFII works with government and regulators (primarily provincial/territorial) to develop a legislative and regulatory framework for the insurance sector that helps ensure Canadian consumers get the insurance products that suit their needs. The Association’s aim is to ensure appropriate standards are in place for the distribution and marketing of all insurance products and services.
In addition to Canada Life, CAFII’s members include the insurance arms of Canada’s major financial institutions – BMO Insurance; CIBC Insurance; Desjardins Financial Security; RBC Insurance; ScotiaLife Financial; and TD Insurance – along with major industry players American Express Bank Canada, Assurant, CUMIS Services Incorporated, Manulife (The Manufacturers Life Insurance Company), and valeyo (formerly Canadian Premier Life Insurance Company).
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