Insurance protects your most important assets and makes it possible for you to obtain credit, free up capital and create wealth. P&C insurance brokers take their role in protecting people’s assets very seriously.

The P&C insurance industry operates on the principle of utmost good faith which applies equally to customers, insurance companies and brokers. Insurance brokers rely on you to provide fair and honest information about your P&C insurance needs. You can then rely on your insurance broker to act in your best interests to meet those needs.

The insurance industry is strictly regulated. Insurance brokerages and each of their representatives are required to be licensed and to work to high professional and ethical standards which include continuing their education over the term of their licence.

In your dealings with a P&C insurance broker, you should always seek further information if you have any questions about the products or services you are purchasing.

When you buy P&C insurance you can expect to receive a fair transaction based on these principles:

1. Your interests come first, before the interests of P&C insurance brokers and the companies they represent.
2. You should expect to have your P&C insurance needs assessed by your broker and, when he/she makes a recommendation, to be offered products that meet your needs.
3. You should expect a P&C broker to enable your purchasing decision based solely on the attributes of the insurance product or service being offered, including the value of the services of the P&C broker.
4. You should expect your instructions to be carried out faithfully. Your P&C broker must not transact business which is unlawful.
5. You should expect your transactions to be handled with professionalism by a qualified P&C broker. If you have any doubts you may inquire about the P&C broker’s qualifications or conduct with the appropriate regulatory body. The General Insurance Council of Saskatchewan (GICS) has the government mandate to regulate and govern the insurance brokerage industry.
6. You should expect to have your personal information safeguarded and only used for the purpose for which it was originally collected, unless you gave permission for it to be used for other reasons. Your personal information may be divulged without your consent to law enforcement agencies when required or authorized by law.
7. You should expect to be informed if your broker has a conflict of interest, and you should be given the opportunity to halt further dealings with him/her.
8. You are entitled to receive all relevant information before making a decision about a financial product. This includes product features, risks and benefits, and the company(ies) involved.
9. You should expect to have any complaints dealt with in a timely and forthright manner. In the event that a dispute with an insurance industry practitioner cannot be resolved, you should be given information about available avenues for resolving your complaint.