January 30, 2018 (Montreal, QC) – Aviva Canada is pleased to participate in public hearings on Bill 150 - An Act Respecting the Distribution of Financial Products and Service. Adopting this legislation will lead to increased consumer confidence in financial services.
Overall Aviva favours the proposed changes to the distribution of financial products and services. Fundamentally, Bill 150 maintains the 20% ownership rule, provides clarity on the distinction between agents and independent brokers, requires an agent or broker to disclose the name of insurers it offers products and requires a broker to provide four quotes to consumers. These measures will help to increase transparency and protection for consumers in Quebec.
“In a period of rapid change, we congratulate the Quebec government on this Bill that will give consumers choice and ensure they are protected and treated fairly,” says Martin-Eric Tremblay, Senior Vice-President, Quebec Region, Aviva Canada. “We are pleased to advocate for consumers and the independence of brokers. We encourage the government to pass Bill 150 to ensure Quebecers continue to benefit from a robust and competitive insurance marketplace.”
To read Bill 150, click here.
About Aviva Canada
Aviva Canada is one of the leading property and casualty insurance groups in the country, providing home, automobile, leisure/lifestyle and business insurance to 2.9 million customers. A subsidiary of UK-based Aviva plc, Aviva Canada has more than 4,000 employees focused on creating a bright and sustainable future for our customers and our communities.
Aviva Canada invests in positive change through the Aviva Community Fund, Canada’s longest running online community funding competition. Since its inception in 2009, the Aviva Community Fund has awarded $8.5 million to over 280 charities and community groups nationwide. Aviva Canada, bringing over 300 years of good thinking and insurance solutions to Canadians from coast-to-coast.