Overview

With a view to reducing duplication and harmonizing regulatory reporting, Autorité des marchés financiers (AMF)
and the Financial Services Commission of Ontario (FSCO) embarked on a joint initiative to change the requirements
for complaint reporting by the companies they supervise.
The new approach to data collection supports a risk-based market conduct regulatory framework and will require
companies to move from reporting aggregate complaint data to reporting complaints on a case-by-case basis.

In January 2005, the AMF and FSCO established a working group that included representation from the Canadian
Life and Health Insurance Association, the Insurance Bureau of Canada, life and health insurance companies, and
property and casualty insurance companies.
The working group developed a common definition of a complaint, identified a data set for collection, and
determined reporting frequencies. The working group also established the technological framework that companies
will use in reporting the data.

It is anticipated that the new reporting system will be ready for general launch in October, 2005. Selected companies
will be asked to pilot test the new system over the summer in preparation for the launch.

Once the system is in place, companies will have until January 30, 2006, to report the complaint data collected for
the period between July 1, 2005 to December 31, 2005. This means that as of July 1, 2005, insurance companies
must be in a position to collect complaint data in accordance with new criteria. Companies will not be required to
report data for the period between January 1, 2005 to June 30, 2005.

It is expected that the new initiative developed jointly by the AMF and FSCO will form the basis for a national
company complaint data reporting system, as Canadian regulators work through the Canadian Council of Insurance
Regulators. To fully implement such a system, regulators must have access to meaningful and reliable sources of
data. The new system implemented by the AMF and FSCO will provide such access to consumer complaint data.
Both the AMF and FSCO are committed to ongoing evaluation to strengthen and refine the system once it has been
implemented. As we move forward, we will ensure that our evaluation process includes industry involvement and
participation.

View the complete document regarding the Company Complaint Collection and Reporting Requirements (PDF)