Latest news with #CISRO
Cision Canada
3 days ago
- Business
- Cision Canada
CISRO issues principles to strengthen catastrophic event response and insurance adjuster mobility Français
TORONTO, Aug. 13, 2025 /CNW/ - The Canadian Insurance Services Regulatory Organizations (CISRO) has released principles to enhance the responsiveness of adjuster licensing for catastrophe and disaster events across Canada's insurance sector. These principles support labour mobility and reinforce the leadership of regulators and adjusters in delivering timely, coordinated service to Canadians, especially during crises. The frequency and severity of catastrophic events such as wildfires, floods and severe storms continues to rise, CISRO's Principles for Adjuster Authorization During Natural Catastrophes and Disasters provides guidance to Canadian regulators to facilitate timely deployment of qualified adjusters while maintaining oversight that protects consumers. These are grounded in seven core principles: Reflect Appropriate Consumer Outcomes - Regulatory responses to catastrophic events should prioritize timely service to policyholders and minimize procedural delays that could hinder recovery efforts. Enhance clarity and transparency - Regulators should ensure that emergency licensing requirements and processes are communicated consistently and are accessible. Promote regulatory agility - Licensing protocols should be designed to enable swift, flexible responses to catastrophic events while maintaining appropriate oversight. Foster Interjurisdictional Coordination - Jurisdictions are encouraged to align definitions and thresholds for catastrophe declarations. Support Proportional Oversight - Expedited licensing for catastrophic events should be balanced with post-event review within an appropriate regulatory framework. Encourage Innovation and Preparedness – Exploration of alternative licensing structures can strengthen the industry's ability to respond to catastrophic events. Advance Practical Mobility –Practical coordination and mutual recognition are prioritized over complete harmonization in recognition of legislative diversity across provinces and territories. These principles seek to ensure the technical competence and regulatory compliance of adjusters, but also to uphold the principles of Fair Treatment of Customers. By embedding customer-centric values into licensing standards, regulators continue to align with broader consumer protection goals and reinforce public trust in the insurance sector. Developed by CISRO's multi-jurisdictional Adjuster Licensing Committee, the Principles for Adjuster Authorization During Natural Catastrophes and Disaster offer a clear framework that supports regulatory flexibility, coordination across jurisdictions, and consumer-focused outcomes. This initiative is an important step in CISRO's broader efforts to foster insurance workforce mobility across Canada. The Principles for Adjuster Authorization During Natural Catastrophes and Disasters are available on CISRO's website at About CISRO The Canadian Insurance Services Regulatory Organizations (CISRO), is a forum of Canadian regulatory authorities who are dedicated to consistent qualifications and conduct of business standards for insurance intermediaries. CISRO members collaborate on initiatives that support a consistent approach to consumer protection through the regulation of insurance intermediaries. Media Contacts:
Cision Canada
26-06-2025
- Business
- Cision Canada
Canadians encouraged to check home insurance coverage on National Insurance Awareness Day Français
TORONTO, June 26, 2025 /CNW/ - June 28 marks the third annual National Insurance Awareness Day in Canada, which is recognized by the Canadian Insurance Services Regulatory Organizations (CISRO), a national coalition of insurance regulators. On this day, Canadians are encouraged to take time to review their insurance policies and engage in dialogue with their licensed insurance professionals to ensure they have the right coverage for their homes and property. Insurance provides security by helping people in recovering from losses caused by events such as damage, illness, or death. However, many people underestimate the value of their personal belongings, property, or the cost to rebuild their home when filing an insurance claim. Therefore, it is crucial to ensure that your home insurance coverage is adequate to fully protect your property. "With National Insurance Awareness Day on June 28, Canadians are reminded to review their insurance policies periodically throughout the year to remain up to date. Do they have sufficient coverage to support their resilient recovery if a loss occurs?" says Louise Gauthier, CISRO Chair. "Our goal is for every Canadian to feel well protected. That's why we encourage everyone to use this opportunity to review their insurance coverage." Considerations when reviewing or buying home insurance policies: Have there been any lifestyle changes that might require a review of your insurance policy? Has there been a change in value, a sale, or accumulation of items since the last time you looked at your policy? Has there been any work (e.g. finishing the basement) or economic realities that could lead to an increase in the cost to rebuild or replace your property (for example, current replacements or rebuilding costs)? The sale of insurance is regulated in Canada. Insurance salespersons, agents, brokers, and adjusters must be licensed to conduct insurance business. A licensed insurance professional can provide you with expertise and advice to ensure you have risk protection for what matters most. You can make sure you are dealing with a licensed salesperson, agent, broker, agency or firm by looking up their name and licence status on your local provincial or territorial regulator's website. About CISRO The Canadian Insurance Services Regulatory Organizations is a forum of Canadian regulatory authorities who are dedicated to consistent qualifications and conduct of business standards for insurance intermediaries. CISRO members collaborate on initiatives that support a consistent approach to consumer protection through the regulation of insurance intermediaries. A complete list of CISRO member organizations can be found at Media Contact: Ashley Legassic (For English media - Toronto) 416-226-7762 Sylvain Théberge (For French media - Montréal) 514-940-2176
