TORONTO, ON, Dec. 6, 2005 – CompCorp, the organization that protects Canadian policyholders in the event their life insurance company should fail, has changed its name to Assuris. The new name was chosen to better reflect the organization’s role and promote stronger recognition of the organization among consumers.
In addition to the name change, Assuris has a new logo and tagline. The logo represents the protection offered to individual life insurance policyholders. The tagline “Protecting your life insurance” underscores Assuris’ goal of protecting policyholders’ life insurance products and benefits.
“In the event a member company becomes insolvent, a stronger corporate identity will make us more effective in responding to policyholders and reducing their level of concern about losing their life insurance benefits,” said Gordon Dunning, President & CEO of Assuris.
“The absence of an insolvency of a life insurance company in the last 11 years and the current stability of the life insurance industry make this an ideal time to introduce our new name and logo to consumers with virtually no disruptions to the industry,” Dunning said.
Assuris protection applies to the product benefits issued by a member company, including: life insurance; critical illness insurance; health insurance; disability income; payout annuities; accumulation annuities; group insurance; group retirement, and segregated funds.
Assuris is a not-for-profit corporation, funded by the life insurance industry, that protects Canadian policyholders against loss of benefits due to the financial failure of a member company. Founded in 1990, Assuris has earned a reputation for working to support policyholders and contain losses. Since its inception and through three insolvencies, Assuris has protected almost three million Canadians.
To find out more on how benefits are covered, please visit the CompCorp Web site at www.compcorp.ca, or call our consumer assistance centre at 1-800-268-8099.