The Canadian Council of Insurance Regulators (CCIR) has released its Travel Health Insurance Products Position Paper, which details its final recommendations for the issues it recently identified in the provision of travel health insurance.
The hope is that CCIR’s recommendations will enhance consumer protection and confidence in travel health insurance.
"We have heard the concerns of the public and insurance brokerage community and with this clear, nationally agreed way forward, we are reinforcing the pre-eminent goal of consumer confidence in their insurance protection when they travel," said CCIR chair Patrick Déry. "It is our belief that these measures will go a long way towards meeting consumer expectations wherever Canadians live in the country."
Some of the recommendations outlined in the paper include: the development of common standardised definitions and terminology; improvements to the application, screening and claims process; simplifying and improving disclosure documents; ensuring adequate controls and oversight mechanisms are in place throughout the product lifecycle; and improved training and information for sales forces.
The CCIR said it is encouraged by the industry's commitment to improving the consumer experience and will continue efforts to monitor the implementation of the recommendations to ensure they are adopted in a timely manner.