Aviva Canada has pledged its support to a bill introduced by the Quebec government that would promote transparency in the financial sector.
The company believes that adopting Bill 150 – which would require general insurance brokers to offer clients quotes from four different insurers, among other provisions – would lead to an increase in consumer confidence.
In a statement, Aviva mentioned that it generally favours the bill’s proposed changes to the distribution of financial products and 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 noteworthy provisions of the bill include the retention of the 20% ownership rule and a requirement for agents/brokers to disclose the names of the insurers they work with.
