Advisor regulatory disclosure requirements have been in place since 2005. When a consumer is considering the purchase of a life, health or investment product from an insurance advisor, the consumer should be provided with a clear understanding of the advisor and who they do business with.  

The Advisor Disclosure Reference Document provides commentary and suggested wording for seven key advisor disclosure items that should be given to clients in writing before the sales transaction. The CLHIA's Reference Document, Advisor Disclosure, has been updated to support the recommendation to restrict travel incentive programs that was put forward in their policy paper entitled “Insurance Distribution in Canada: Promoting a Customer-focused System” (2016). 

Adherence to these disclosure practices supports the principles for managing conflicts of interest adopted by the Canadian Council of Insurance Regulators (CCIR). Please review the best practices set out in this Reference Document and update your Advisor Disclosure document accordingly.

Remember, 
Good Business is Compliant and Compliance Matters!