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Disclosure of business relationships

​This disclosure is compulsory and must take place both verbally, when the representative speaks to or meets with the insured (before placing the risk or at renewal time), and in writing when the policy is issued or renewed.

Business relationships requiring disclosure may be divided into three categories:

  • ownership interests (“any direct or indirect interest”) that an insurer holds in a firm or vice versa, no matter what the percentage;
  • benefits in the form of a loan obtained from an insurer or any other assumption of costs such as those related to advertising or rent;
  • the concentration of 60% or more in personal-lines insurance book of business with a single insurer.

​Schedule 4 of the Regulation respecting information to be provided to consumers stipulates that.