P&C insurers in BC, Alberta must become GIO members
The governments of British Columbia and Alberta have passed regulations under their provincial Insurance Acts that require all companies transacting home, auto and business insurance, to be members of the General Insurance OmbudService (GIO), effective July 1, 2012. Updates, including this requirement, are being made to the Insurance Acts of both provinces.
In BC, this regulation does not apply to ICBC and mutual companies.
The GIO is an independent service that helps Canadian consumers resolve disputes about their home, auto or business insurance coverage. The GIO was created in 2002 and is independent of governments and the insurance industry. In 2004, the Alberta government designated the GIO as the dispute resolution service for complaints about auto insurance premiums.
“We are delighted that the Government has entrusted us to extend our service to customers of all insurers working in Alberta,” said Roger Palmer, GIO’s Independent Director, Prairies, Northwest Territories & Nunavut.
