TORONTO, Canada – The Canadian Council of Insurance Regulators will make an examination of travel insurance one of its key priorities in 2015 and is seeking input from the public on how the business is conducted in Canada, announced Chair Carolyn Rogers today.
“We have heard the concerns of the public and insurance brokerage community and know how important it is for consumers to have confidence in their insurance protection when they travel,” said Rogers. “As a result, we have formed a working group that is currently undertaking research on travel insurance and we’re inviting comments from the public.”
The CCIR includes representatives from every province and territory in Canada, and the new group intends to work with the Canadian Insurance Services Regulatory Organizations (CISRO) and with the insurance industry on the travel insurance issue. Both CCIR and CISRO recognize the insurance industry’s commitment to improving consumer confidence in the product.
“We welcome this initiative by the CCIR and are committed to work with them to ensure that consumers have the knowledge and information that they need to have confidence in the emergency travel health insurance they purchase” says Frank Swedlove President and CEO of the Canadian Life and Health Insurance Association (CLHIA).