Insurance protects your most important assets and makes it possible for you to obtain credit, free up capital and create wealth. Property and casualty (P&C) insurance brokers take their role in protecting people's assets very seriously.
When you buy P&C insurance you can expect to receive a fair transaction based on these principles:
Your interests come first, before the interests of P&C insurance brokers and the companies they represent.
You should expect to have your P&C insurance needs assessed by that individual and, when he or she makes a recommendation, to be offered products that meet your needs.
You should expect a P&C broker to enable your purchasing decision to be based solely on the attributes of the insurance product or service being offered, including the value of the services of the P&C broker.
You should expect your instructions to be carried out faithfully. Your P&C broker must not transact business which is unlawful.
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.
You should expect to have your personal information safeguarded and only used for the purpose for which it was originally collected, unless you have given 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.
You should expect to be informed if he or she has a conflict of interest, and you should be given the opportunity to halt further dealings with him or her.
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 involved.
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.