November 2005

November 2005

Warning Notice from Lloyd's Underwriters

November, 2005 – Lloyd's is alerting brokers and policyholders that neither Marine Risks Limited of Toronto and Miami nor its representative Iain Duncan are Approved Coverholders or Registered Open Market Correspondents and that they have no authority from Lloyd's to place Canadian Business in the Lloyd's market. 

• Warning notice from Lloyd's Underwriters        

    
Summary of Responses on the Consultation Paper on Relationships between Insurers and Sales Intermediaries – Achieving Best Practices

November 4, 2005 –  The Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) released the Summary of Responses on the Consultation Paper on Relationships between Insurers and Sales Intermediaries –Achieving Best Practices.

The Industry Practices Review Committee (IPRC) conducted fact gathering through the questionnaires sent to insurance companies in the fall of 2004, the questionnaires that the Autorité des marchés financiers (AMF) and the Registered Insurance Brokers of Ontario (RIBO) sent to agents and brokers and the June 2005 discussion paper.  The IPRC has not made any recommendations during this fact gathering stage.

This paper has been prepared by the IPRC to summarize the comments received and provide analysis.  The IPRC will now be turning its attention to determine whether any recommendations should be made to achieve best practices in managing conflicts of interest in the insurance industry.

• CCIR letter to Stakeholders
• Executive summary
• Summary responses