Left Navigation Code of Consumer Rights and Responsibilities Insurance companies selling home, auto and business insurance are committed to protecting your rights. These include the right to be informed fully, to be treated with respect, to timely claims handling and complaint resolution, and to privacy. Insurance is a two-way contract, and you have a role to play. You are responsible for understanding your needs, asking questions and providing accurate, up-to-date information to your insurer. For more information about your role, speak to your insurance representative and read your policy. Right to Be InformedYou have the right to an easy-to-understand explanationof how insurance works and how insurers calculate pricebased on relevant facts. You can expect to access clearinformation about your policy, your coverage and theclaims settlement process. Under normal circumstances,insurers will advise an insurance customer of changes to,or the cancellation of, a policy at least 30 days prior to theexpiration of the policy. Your insurer is required to provideyou with the renewal terms of your policy at least 30 daysprior to the expiration of the policy.You have the right to know how your broker or agent iscompensated, and if they have any conflicts of interest.Right to Timely and Transparent Claims HandlingYou can expect qualified staff to respond to your claimin a timely manner. You have the right to be informed ofprocedures and timelines for settling your claim, as well asthe status of your claim. If your claim is denied, you havethe right to be informed why.Right to Complaint ResolutionYou can access your company’s complaint resolutionprocess. Your insurer, agent or broker can provide youwith information about how you can ensure that yourcomplaint is heard and promptly handled. You mayalso contact your provincial insurance regulator or theindependent General Insurance OmbudService (www.giocanada.org).Right to PrivacyYou have the right to understand how your personalinformation will be used. All insurers have privacystatements and are subject to Canada’s privacy laws.Ask your insurer to provide you with a copy of itsprivacy statement. Responsibility to understand your needsYou are responsible for asking questions and educatingyourself about your policy. Visit www.ibc.ca forinformation about questions you should ask yourinsurance provider. Make sure you ask all relevantquestions and give your insurance provider a detailedexplanation of your circumstances to help him or hermake informed recommendations on what your policyshould include. This will ensure that you have the rightinsurance coverage.You are responsible for making premium payments asrequired by your insurer. Failure to do so could result in alapse of coverage or cancellation of your policy.Responsibility to Provide Accurate InformationYou are required to provide all relevant information inyour application for insurance and you must ensurethat the information is accurate. If you have questionsabout the application or policy, contact your insurancerepresentative and have him or her explain it to youto ensure that you understand your and the insurer’sobligations.Responsibility to Update Your InformationTo maintain your protection against loss, you mustpromptly inform your insurance company, broker oragent of any change in your circumstances, such asrenovations to your home, the purchase of a big-ticketitem that may require additional insurance coverage orhaving a home-based business.Responsibility to Report the FactsYou must report an accident or claim, providing completeand accurate details, as soon as possible following theaccident or incident giving rise to the claim. Useful LinksStandards of Sound Marketplace PracticeThese Standards were developed within a risk-based regulatory framework to strengthen public confi dence and to assure regulators and consumers that the property and casualty insurance industry operates in compliance with government policy objectives.