Fair Consumer Outcomes

IAIS - ICP 19 Conduct of Business

  • The supervisor requires that insurers and intermediaries, in their conduct of insurance business, treat customers fairly, both before a contract is entered into and through to the point at which all obligations under a contract have been satisfied. - [link]
  • GUIDANCE CONDUCT OF INSURANCE BUSINESS AND FAIR TREATMENT OF CUSTOMERS, ccir-ccrra - 23p
  • GFIA: In addition, GFIA is concerned that the meaning of "fair treatment of consumers" may be considered different from, or in addition to, legally prescribed standards.
  • IAIS: The terms “fair” and “unfair” are well established and understood in the ICPs. The paper must be read with this understanding in mind.  (p4)

2021 11 - IAIS - Resolution of public consultation comments on draft Issues Paper on Insurer Culture - 46p