Toronto, ON (Sept. 25, 2019) – CSIO is pleased to share that the My Proof of Insurance industry solution satisfies the regulatory requirements set out by each province that has approved the use of electronic proof of insurance (eSlips).
My Proof of Insurance is a free solution that allows insurers and brokers to send digital policy documents and eSlips to their personal and commercial lines customers through email. The solution leverages digital wallet technology to allow consumers to securely store, display or share their eSlips without the need for a separate app. Phones can be locked to display only the eSlip when sharing with law enforcement or other third parties.
Since the 2015 release of its eSlips: E-Delivery of Motor Vehicle Insurance Cards legal advisory report, CSIO has participated in many meetings with insurance regulators and other stakeholders to continue to advance regulatory approvals of electronic proof of auto insurance. In January 2018, Nova Scotia became the first province to approve the use of eSlips in Canada, and soon after, the Canadian Council of Insurance Regulators (CCIR) published a recommendation in its Winter Communique that eSlips should be made available in jurisdictions across Canada.
“We were pleased to be the first province in Canada to issue a bulletin (January 2018) outlining the expectations surrounding the use of electronic proof of auto insurance (EPAI), or eSlips,” says Jennifer Calder, Nova Scotia’s Deputy Superintendent of Insurance, Finance and Treasury Board. “The introduction of eSlips in Nova Scotia has been seamless and we are not aware of a single complaint. We are satisfied that CSIO’s My Proof of Insurance solution meets the requirements for EPAI set out in Nova Scotia’s Superintendent of Insurance Bulletin #2018-1.”
After approving the use of eSlips in August, the Alberta regulator met with CSIO to demonstrate its solution. “The Office of the Superintendent of Insurance in Alberta has reviewed My Proof of Insurance and accepts that it meets the requirements set out in Alberta’s Superintendent of Insurance Bulletin 05-2019 Approved Forms of Electronic and Paper Financial Responsibility Card [Pink Card],” said David Sorensen, Alberta’s Deputy Superintendent of Insurance Regulation and Market Conduct.
Recently, Ontario and Newfoundland and Labrador approved the use of eSlips for drivers in those provinces. CSIO has had the opportunity to showcase the My Proof of Insurance solution to the respective regulators, and can confirm that the solution meets the mandatory requirements set out in the bulletins of both provinces.
“Insurance providers that do business in these provinces can be confident using My Proof of Insurance, the industry’s eDelivery solution, to provide eSlips and other electronic policy documents for both personal auto and commercial fleet accounts,” says Catherine Smola, President and CEO of CSIO. “This industry solution was developed in collaboration with insurers, brokers, and with the endorsement of provincial broker associations. My Proof of Insurance is ready to meet the needs of insurance customers across Canada.”
About Centre for Study of Insurance Operations (CSIO)
CSIO is Canada’s industry association of property and casualty insurers, software providers and over 38,000 brokers. CSIO is committed to improving the consumer’s ease of doing business within the broker channel by overseeing the development, implementation and maintenance of technology standards and solutions such as eDelivery, eDocs, and eSignatures. In addition, CSIO operates the industry-owned mail network service, CSIOnet. CSIO maintains offices in Toronto and Montreal. For more information, visit www.csio.com.
SOURCE: Centre for Study of Insurance Operations (CSIO)Tags: Centre for Study of Insurance Operations (CSIO), eSlips, Ontario, Proof of Insurance