Conflict of Interest

Managing Conflicts of Interest

The Canadian Council of Insurance Regulators, after public consultations agreed on three principles as best practices in managing actual or potential conflicts of interest. The principles promote consumer confidence in the insurance industry by outlining best practices for managing these situations when they arise.

The Principles are:

  • The client’s interests come first. Agents and Brokers must put the interests of policyholders and purchasers of insurance ahead of their own.
  • Make clear any conflicts or potential conflicts of interest. Consumers must receive disclosure of any actual or potential conflict of interest that is associated with a transaction or recommendation.
  • Ensure products are the right fit. The products recommended must meet the needs of the insurance consumer.

Bay of Quinte Mutual Insurance Co. supports these principles. If you feel that our representatives are not following them, please let us know.

Our company, like all insurers in Ontario is regulated by the Financial Services Commission of Ontario.