January 19, 2018 13:15
Robert Dumas, Lyne Duhaime and Jean St-Gelais | Photo : Denis Méthot
Consumers will have a insurance provisional after an online purchase of an insurance product and will have a period for 10 days to cancel a contract after you purchase on the Internet.
This is one of the less known of bill 141, which was highlighted at the last day of the parliamentary commission of the draft law. This protection, said Robert Dumas, president, Sun Life, is part of measures to ensure greater protection and more flexibility to consumers when purchasing a product online.
Support almost total
Mr. Dumas and his colleague Jean St-Gelais, chairman of the board and chief executive officer of The Capital, represented thecanadian Association of insurance companies of persons (CLHIA), in the company of the president of theCPOMA-Québec, Lyne Duhaime, during this public consultation. The organization has endorsed nearly complete to the entire bill.
«The draft law 141 in its entirety is intended first and foremost is the protection of the consumer, a summary St-Gelais. This is the most important. For the rest, it’s a lot of adapting to new technologies, international regulations and ensure that our regulations are more fluid. Nothing in there makes life a lot of the industry. It will work as before. With new technologies, it will be more clear and more simple. «
Mr. St-Gelais also said that the Rooms had done a good job over time. «However, we are surely rendered to another step where it is easiest to have an organization that brings together the functions of consumer protection to a place. The integration of the Rooms, in my opinion, fits perfectly in the niche of consumer protection. «
The sale by Internet
To this day, there is no rule governing the sale of insurance via the Internet. Bill 141 provides, in particular, the distribution of insurance online without the mandatory intervention of a representative. A client who feels the need can, however, ask the council at any time during the transaction.
The CLHIA remember that no insurer will have any interest in what a client doesn’t provide the good product and is bad advice. Robert Dumas sees a very good eye as to the sale by the Internet is severely regulated and supervised by the Authority. He sees it as a pledge of safety for the consumer.
«As an insurer, I would be very happy to have a body that defines the parameters. We take already measures to get there. If there are higher standards that are believed to be reasonable, we do agree with this. The worst thing that can happen with Internet sales, it is only six months, two years or four years later, the consumer is coming back to us and told us that he had misunderstood, or that the product did not correspond to his need. If there is a mechanism or regulations that define some of the parameters, we will be happy to apply them. «
Even if people in the insurance industry provide a very strong growth in the sale of insurance through Internet in the future, the CLHIA recalls that the adviser will retain a very important role in the sale and supply of insurance products. She said that she was pleased to see that the rules that surround the practice of the certified counsellor will remain.
Disappearance of the distribution Guide
Taken up by the minister of Finance, Carlos J. Leitão, Lyne Duhaime has not shed tears over the disappearance announced the distribution guide, which no longer appears in the new draft of the bill 141. This absence has been reported by other groups.
«This way, we were a little surprised because everyone always claimed that the guide distribution was not reaching her goals, she responded. It is a guide which was long and the consumer had difficulty finding their way around. From our side, we much prefer what we find in the bill. The insurer has the responsibility to ensure that the person has the necessary information. We think that we are going to achieve a lot more objectives of consumer protection, an obligation of result, rather than having a distribution guide, a very long, very detailed, very prescriptive, which often does not protect better the consumer. «