On May 25, 2021, the Canadian Insurance Services
Regulatory Organizations (“CISRO”) released its
proposed Principles
of Conduct for Intermediaries
(“Principles”), which are designed to
complement and supplement the
Fair Treatment of Customers Guidance
(“FTC Guidance”) released by the Canadian
Council of Insurance Regulators (“CCIR”) and CISRO in
2018. The comment period closes July 9, 2021.
The Principles reflect minimum regulatory conduct standards that
are common across Canada regarding the fair treatment of customers,
while recognizing that each jurisdiction has its own regulatory
approach for the conduct of business. Intermediaries should conduct
their business, following the relevant Principles that apply, while
ensuring compliance with all applicable laws, regulations, rules or
regulatory codes within their respective jurisdiction. Any stricter
or more specific requirements, rules or standards of conduct take
priority over the Principles. The Principles also
