Our submission asks that FSRA consider the benefits of existing guidance on Fair Treatment of Customers while redefining “vulnerable consumers” as individuals needing additional assistance. We also recommend that these customers self-identify, and that regulations avoid requiring more data collection and storage.
As in 2023, our submission recommends giving consumers the option to allow credit scores to be used to calculate rates. It explains the positive impacts of this change to better reflect customers’ individual risk profiles when setting rates.
CANADIAN ASSOCIATION OF DIRECT RELATIONSHIP INSURERS (CADRI)