Aviva Canada praises Quebec’s financial sector plans

Published: January 31, 2018

Updated: July 24, 2018

Author: Luke Jones

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Aviva Canada has published its response to the Quebec government’s plan to improve transparency in the province’s financial sector. The country’s second largest property and casualty insurer says it fully supports the introduction of a bill.

Bill 150 would mandate general insurance brokers to offer quotes to customers from four different insurance providers, alongside other provisions. Aviva Canada says the proposal would give customers more confidence in the financial sector.

In a statement this week, Aviva Canada said it approves of the changes and welcomes new approaches to the distribution of financial services:

“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,” said Aviva Canada senior vice-president of Quebec region Martin-Eric Tremblay. “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.”

Other parts of Bill 150 will allow the 20% ownership rule and add a requirement for insurance brokers and agents to reveal names of all insurance companies they work with.