Ontario requires auto insurers to send publications to consumers explaining auto reforms

Ontario’s insurance regulator is requiring the province’s auto insurers to mail out publications explaining the forthcoming auto insurance reforms to consumers.
The content and wording of the documents, which are not to be altered when sent to consumers, is the product of a working group that included insurers, brokers, the Financial Services Commission of Ontario (FSCO) and other stakeholders.
The first document, called Changes to Ontario Auto Insurance Give You More Choice (also known as the ‘Early Awareness mailer’), advises policyholders that the province’s standard auto insurance policy is changing on Sept. 1, 2010.
Insurers are required to deliver (or ensure delivery via third-party) the Early Awareness mailer to all policyholders in hard copy, post-marked no later than June 30, 2010.
The regulator is encouraging insurers to distribute the Early Awareness mailer at any time before that date.
Insurers will also be required to send to consumers a Point of Sale Disclosure Document, which consists of two parts.
The first part, Summary of Important Changes to your Policy (also known as the Point of Sale or POS document), would be attached to and form part of the insurance certificate.
The POS document provides uniform, high-level information for consideration by policyholders in the lead-up to policy renewal.
The second part, Providing More Choice to Consumers: What You Need to Know About Changes to Auto Insurance in Ontario (also called the ‘More Choice mailer’), supplements the POS document by giving more detailed information on changes to auto insurance policies after Sept. 1, 2010.
The Point of Sale Disclosure Document, including the POS document and the More Choice mailer, must be included with the first renewal of any existing policy with a renewal date that falls between Sept. 1, 2010 and Aug. 31, 2011.
Samples of the documents, as well as the complete FSCO bulletin, can be found on FSCO’s Web site at:
http://www.fsco.gov.on.ca/english/pubs/bulletins/autobulletins/2010/a-09_10.asp