Algar named chair of newly created insurance "Ombudservice"

Lea Algar was appointed the chair of the board of directors of the newly created General Insurance Ombudservice (GIO) at the organization’s first meeting. The GIO board consists of seven members, two of which are insurance industry appointees. George Anderson, former CEO of the Insurance Bureau of Canada (IBC) sits on the board along with Diane Strashok, CEO of Peace Hills Insurance Co.The GIO was created as a final resolution mechanism in settling insurance-related customer complaints. The GIO’s service is free to insurance customers, assuming that all possibilities of resolution have already been exhausted at the company level. All federally regulated insurers are required to belong to a third-party dispute resolution system, the IBC notes, and therefore the decision was made to establish the GIO. The GIO does not have binding authority in its rulings.