For immediate release (Toronto, November 24, 2022) – Assuris and the OmbudService for Life and Health Insurance (OLHI) have been working in the best interests of Canadian policyholders for decades.
This is Financial Literacy Month, and it is a perfect opportunity to remind Canadians that they can rest assured that OLHI is there for them when they have a complaint regarding their life and health benefits. And, in the unlikely event that a life insurance company fails, Assuris will protect their benefits.
“We opened our doors on November 29, 2002. Since then, OLHI has helped Canadians with life and health insurance complaints,” said Glenn O’Farrell, CEO and Ombudsman of OLHI. “Our free, independent and impartial alternative dispute resolution service is a reliable, effective and faster alternative to the courts when you have an unresolved complaint.”
“Assuris has provided a safety net for every Canadian life insurance policyholder since 1990. If you have life insurance in Canada, you have Assuris protection,” said Paul Petrelli, President & CEO, Assuris. “If your life insurance company fails, Assuris ensures that your benefits continue to be honoured up to our guaranteed protection level so that you have no significant impact to your financial wellbeing.”
OLHI and Assuris help safeguard the insurance sector. Every day, most Canadian policyholders enjoy excellent service from their insurers. But if something goes wrong, you can have peace of mind that Assuris and OLHI are here to help you.
“Every week, Canada’s life and health insurers provide 29 million Canadians with over $2 billion in life and health insurance benefits, while working hard to deliver a high degree of customer satisfaction,” Stephen Frank, President and CEO of the Canadian Life and Health Insurance Association said. “Consumers can have even greater confidence knowing that the services of Assuris and OLHI stand behind our industry as well.”
Assuris is an independent, not-for-profit, industry-funded compensation organization founded in 1990. Our mission is to protect policyholders if their life insurance company fails. Every life insurance company in Canada is required by the federal, provincial, and territorial regulators to become a member of Assuris. Assuris is designated by the federal Minister of Finance under the Insurance Companies Act of Canada. Assuris is recognized by the Autorité des marchés financiers (AMF) as the compensation body whose members are Quebec-chartered life insurers.
The OmbudService for Life and Health Insurance turns 20 on November 29, 2022. Since 2002, OLHI has responded to almost 1 million consumer inquiries, nearly 40,000 complaints and over 20,000 consumer requests for help finding a lost life insurance policy.
For 20 years, OLHI has provided a free, bilingual, independent, and impartial alternative dispute resolution public service for Canadian life and health insurance consumers. As an alternative dispute resolution public service, OLHI provides accurate and accessible information about life and health insurance concerns. Our services include:
- Guiding consumers through the complaints process.
- Answering their questions.
- Helping them find lost policies or policies of deceased loved ones.
For more information:
Head, Public Education, OmbudService for Life and Health Insurance
Executive Vice President, Operations