Ontario auto insurers must contact policyholders
The Financial Services Commission of Ontario is requiring auto insurers contact policyholders in advance of the September 1, 2010 auto insurance reforms.
FSCO, in consultation with the Consumer Information Working Group, drafted three publications to provide consumers with information about the auto insurance changes.
The “Changes to Ontario Auto Insurance Give you More Choice” publication – also known as the “Early Awareness” mailer – gives basic information about upcoming changes, and lets policyholders know that more information will be included with their next renewal. Insurers are required to deliver, or ensure delivery via third-party, the Early Awareness mailer to all policyholders, in hard copy, post-marked no later than June 30, 2010.
For new business, i.e., policies written after the general distribution of the Early Awareness mailer and before September 1, 2010, insurers are to deliver the Early Awareness mailer to the new policyholders no later than September 1, 2010. It may be delivered on its own or with other communications, for example, policy documents.
A Point of Sale Disclosure document must be included with the first renewal of any existing policy with a renewal date between September 1, 2010 and August 31, 2011. The disclosure document has two parts: “Summary of Important Changes to your Policy” and “Providing More Choice to Consumers: What You Need to Know about Changes to Auto Insurance in Ontario.”
To access these documents, see the following links.
“Changes to Ontario Auto Insurance Give You More Choice” (Early Awareness mailer): PDF here.
“Summary of Important Changes to Your Policy” (POS document): MS Word document here.
“Providing More Choice to Consumers: What you need to know about changes to auto insurance in Ontario” (More Choice mailer): MS Word document here.
Instructional guide re: Changes to Ontario Auto Insurance Give You More Choice (Early Awareness mailer): PDF here.
Instructional guide re: Summary of Important Changes to Your Policy (POS Document): PDF here.
Instructional guide re: Providing More Choice to Consumers: What you need to know about changes to auto insurance in Ontario (More Choice mailer): PDF here.
