Who's Looking Out for You?

When it comes to understanding the insurance industry in Canada and Ontario specifically, it can get a bit confusing for the average consumer. What organizations are out there? And what regulatory bodies are helping protect your rights as a policyholder?Insurance Bureau of Canada (IBC)Website: ibc.caThe IBC is a national association that represents private home, business and auto insurance companies. The IBC acts on the part of its members by responding to and forecasting industry issues, as well as support members' needs by identifying new industry opportunities.The IBC also lobbies the federal and provincial governments in order to help promote changes in public policy, which benefit insurance companies and, in turn, their customers. The bureau also helps foster public understanding of how car, home and business insurance works.Financial Services Commission of Ontario (FSCO)Website: fsco.gov.on.caFSCO is a regulatory body that covers, among many various industries, the insurance industry. FSCO's mandate is to help promote public trust and consumer confidence in the Ontario auto insurance industry. This government-mandated body essentially helps make sure that the auto insurance industry stays above-board in its actions.Registered Insurance Brokers Association of Ontario (RIBO)Website: ribo.comThis self-regulated body serves insurance brokers in Ontario. RIBO serves consumers by regulating the ethical conduct, licensing, professional ability and competence and insurance-related financial obligations of all the independent insurance brokers in Ontario. RIBO helps ensure that consumers don't become victims of fraudulent or illegal activity.CGI Group Inc.Website: cgi.comCGI Group Inc. is a technology firm that provides consumers with a history of their driving claims. CGI serves the auto insurance industry in Canada by providing you with your insurance history report, which includes your automobile policy and claims history as reported by the Canadian property and casualty industry. You can request a insurance history report once every 12 months, provided it is only used for your own personal information.If you want to obtain information or your insurance history report, you can visit InsuranceHotline.com to get more information on how to connect with CGI Group Inc.Ontario Ministry of Transportation (MTO)Website: mto.gov.on.caIf you're a driver, you've already connected with the MTO. Responsible for drivers and provincial roads and highways, this government body provides you with a license to own and operate a vehicle in Ontario (which you have to obtain through the Ontario Graduated Licensing System), license renewal, vehicle ownership registration, your driving abstract and a record of your moving violations and parking tickets. The MTO requires you to have an auto insurance policy in order to obtain a driver's license; hence it is also tied to the auto insurance industry.