TORONTO, Nov. 19, 2013 /CNW/ - At its Annual General Meeting held on
November 8th, 2013, the OmbudService for Life & Health Insurance (OLHI)
announced another successful year. Highlights include the following:
Total Contacts with the public exceeded 66,000, led by a growth in Web
visits of 35%;
A significant increase in both complaint referrals from insurers and the
number of Western consumers using OLHI's services;
Successful completion of its 2nd Independent Review.
"We are pleased that OLHI's profile with the public continues to grow",
said Dr. Janice MacKinnon, OLHI Chair. "It is excellent news that more
consumers are hearing about OLHI's independent complaint review process
and that knowledge of our services is growing in Western Canada.
Support from our stakeholders has been instrumental in enhancing our
profile among consumers".
"Another major highlight has been the completion of OLHI's 2nd Independent Review" added Dr. MacKinnon. "The review concludes that
OLHI is fulfilling its mandate as an independent forum for consumer
"We are particularly happy with the reviewer's conclusion that OLHI
operates independently from the life and health insurance industry and
that its current model for the selection of Directors should not be
changed," added Dr. MacKinnon. "It is reassuring to have confirmed that
OLHI's governing mechanisms meet the standard of independence in all
OLHI's Chair also clarified that OLHI will continue to handle consumer
complaints related to segregated funds. "Since OLHI was founded in
2002, consumers of life and health insurance products have been able to
file a complaint with OLHI pertaining to segregated funds" said Dr.
MacKinnon. "Segregated funds are insurance products and OLHI has the
expertise to handle these complaints. It makes sense that we continue
to review them and to refer any related banking or mutual fund
complaint to our sister OmbudService, OBSI". OLHI receives
approximately 70 segregated fund complaints annually; fewer than 10%
involve a mutual fund or banking component.
Further details on notable company events in the past year, including
consumer case studies, are contained in OLHI's 2012 -13 Annual Report
now available online at www.olhi.ca/annual_review.html
About the OmbudService for Life & Health Insurance
A not-for-profit corporation established in 2002, OLHI is a national
independent complaint resolution and information service for consumers
of Canadian life and health insurance products and services, including
life, disability, employee health benefits, travel, and insurance
investment products such as annuities and segregated funds.
OLHI's services are available free of charge, in both English and
French, to any Canadian consumer whose life or health insurer is an
OLHI member. OLHI is a member of the Financial Services OmbudsNetwork
(FSON), a Canada wide network of dispute resolution services supported
by Canada's financial services regulators and financial services firms.
For more information visit www.olhi.ca.
For further information:
Media Contact: Jerry Grymek,
LMA Communications Inc.
Tel: 416 440-2500 ext 236