By Vincent Gaudreau, CIB, FCIP, CRM, insurance broker and RCCAQ chair

Online insurance sales are now a reality. We do not oppose this type of transaction; we merely wish to ensure that consumers benefit from your advice.

What happens if people want to take out auto insurance at two A.M.? No problem! But they must also have access to the information they need; that way, if they ever have to file a claim, there will be no unpleasant surprises.

That's why we're making your voice heard on this issue. Here is a summary of the main initiatives involved:

Background

 •Bill 188 (An Act respecting the distribution of financial products and services), which took effect in 1998, regulates online distribution and our profession as a whole.
•The government is expected to review this legislation in the near future.
•Insurance is not a straightforward product; purchasing insurance raises important issues for consumers.
•Brokers' primary role involves advising clients and defending their interests (this is what sets brokers apart from insurance agents).
•The direct insurers are undertaking a major lobbying campaign with the AMF.
•The AMF issued a report in early April in which it ruled that certified representatives are not required to be involved in online transactions.

Where we stand

•We must recognize that online insurance sales meet the needs of some consumers.
•We must emphasize the importance of maintaining certified representatives' involvement in online transactions.
•We must not let consumers take on sole responsibility when they purchase insurance products.

Ongoing initiative

•Pursuing our lobbying efforts with the AMF.

Other issues of concern

Would you like to know about other issues of concern to us? Please consult the list and show your commitment by renewing your RCCAQ membership today!