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Practices in disability : the industry is preparing to face the consultation of the Authority

by

Hubert Roy

1 May 2018 13:30

Photo : Freepik

Industry players surveyed by the Journal of the insurance industry have confirmed that they collaborate in the procedures of theAutorité des marchés financiers, who wants to better know the practices of insurers in terms of claims processing of group disability insurance.

The Authority revealed two weeks ago that it will conduct a consultation to this effect. A report will follow. The regulator will be used subsequently in its surveillance activities.

A review taken seriously, says CLHIA

From the side of the’Association of canadian companies and insurance (CLHIA), is said to «extend its full cooperation» to the Authority for its review on the practices of the industry in terms of claims for group disability insurance.

«The insurance companies take this review seriously and will analyze the findings of the report «, said in the Journal of insurance Dominique Biron-Bordeleau, analyst, public and government affairs for the Quebec of the CPOMA.

She adds that the current information available to the CLHIA does not reveal the existence of a particular problem. «The CLHIA has already taken steps to survey its members to have a better picture of the processing of insurance claims for disability related to psychological factors «, she also revealed.

An opportunity to find out more, said the Room

The Chambre de la sécurité financière said it supported any initiative aimed at better protecting consumers of financial products and services. «Without knowing the details of this exercise, it would be important to take the opportunity to look at the burden that represents the approach to be taken to a consumer who is dissatisfied with the decision of the insurer,» said Julie Chevrette, communications director, the Newspaper of insurance.

Carry out such an exercise would ensure that the practices are not only fair, but they do not constitute an additional load which the consumer could happen in the circumstances. «It is necessary to avoid transferring to the consumer the burden of its protection «, said Ms. Doe.

The Desjardins group will participate

The Mouvement Desjardins has also served on the Journal of insurance that it will participate in the process. The financial institution does not wish, however, to not comment further on the while, waiting to see how the consultation will be available, said spokesman Jacques Bouchard.

The co-operative had been taken up directly in this issue, while the case of Samuel Archibald, author and professor at theUniversity of Quebec at Montreal, having suffered from depression, had made a lot of noise in the media.

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