“Consumer confidence is the overall grade point average for how the industry is seen to be dealing with risk. This is where you measure not only the effectiveness of regulation, but, more fundamentally, the reputation of the industry as a whole. Confidence in the insurance marketplace can only be achieved with a balance of regulatory protection and good business.”
(Madame Danielle Boulet, Chair of the CCIR and Quebec’s Department of Solvency)
You have worked hard to build your practice. You advise your clients of the best insurance solution to protect their family but have you done everything possible to protect your business? Compliance has become an important part of your day-to-day business activities which affects how you interact with your clients and operate your businesses. There may be regulatory and financial penalties, not to mention the possible affect to your reputation if you do not understand your obligations and adopt sound business practices. Regulators are raising the bar on compliance risk management and assessing the controls in place to manage those risks. There is a lower tolerance of those who have not identified their obligations and put appropriate measures in place.
HUBs goal is to help you identify the key components required in your compliance regime and provide you with the information and tools to help you. This link will direct you to a summary of your key obligations. In addition, HUBLINK provides access to a variety of tools and resources designed to help you incorporate sound business practices and remain compliant. We encourage you to review the information and solutions that are available to assist you in meeting your needs.
Sound business practices add value and builds client trust.
Remember,
Good Business is Compliant and Compliance Matters!