D-9.2, r. 18 - Regulation respecting information to be provided to consumers

Schedule Disposition versions

2012-09-01

Schedule 4

(ss. 4.8 and 4.9)

DISCLOSURE OF INFORMATION ON INSURERS

The business relationships to be disclosed are as follows:

· the fact that the insurer with which the damage insurance agent or damage insurance broker may place a risk holds a direct or indirect interest in the ownership of the firm on behalf of which this agent or broker is acting;

· the fact that the firm on behalf of which the damage insurance agent or damage insurance broker is acting holds a direct or indirect interest in the ownership of the insurer with which this agent or broker may place a risk;

· the fact that the firm of the independent partnership on behalf of which the damage insurance agent or damage insurance broker is acting or this broker as an independent representative or, as the case may be, the executive officers, directors, shareholders or partners thereof or other legal persons or partnerships on behalf of which these executive officers, directors, shareholders or partners are also executive officers, directors, shareholders or partners, have been granted a loan or any other form of financing by the insurer with which they may place a risk; and

· the fact that the aggregate disks placed with the insurer or other insurers that are members of the same financial group represented 60% or more of the total volume of risks placed in personal-lines damage insurance by the firm or the independent partnership on behalf of which the damage insurance agent or damage insurance broker is acting or by this broker as an independent representative, calculated on the value basis of direct written premiums annualized as at 31 December of each year.

The damage insurance agent or damage insurance broker must make the disclosure prescribed in section 4.8 or 4.9 by using one of the following phrases, and making the necessary changes:

(1) for disclosure of ownership interests with an insurer or the granting of a loan or any other form of financing by an insurer:

· “Our firm has a financial relationship with the insurer ABC Inc.”;

· “The insurer ABC Inc. has granted a loan or financing to our firm.”;

· “Our firm is owned in part by the insurer ABC Inc.”;

· “Our firm owns part of the insurer ABC Inc.”.

(2) for disclosure of the name of the insurer with which the aggregate risks placed by the firm represent 60% or more of the total volume of risks placed in personal-lines damage insurance:

· “Our firm does business primarily with the insurer ABC Inc.”;

· “ABC Inc. is our firm’s principal insurer.”;

· “I am an agent for the insurer ABC Inc. and I propose only products offered by that insurer.”.

O.C. 587-2007, s. 5.