Tuesday, October 28, 2014 – The OmbudService for Life & Health Insurance (OLHI) will continue to be the independent dispute resolution service that handles complaints against insurers pertaining to segregated funds.
In a protocol announced yesterday by the Ombudsman for Banking Services and Investments (OBSI), it was confirmed that complaints about segregated funds and other insurance investments are not in OBSI’s mandate. When OBSI receives complaints of this nature, they will refer consumers to OLHI. OBSI will also advise OLHI of the complaint once they have referred consumers to us.
Where a complaint is two-fold, relating to a mix of securities and segregated funds or other insurance investment products, OBSI will only review those aspects of a complaint that involve securities – and will refer the rest to OLHI.
To view the full protocol, please visit OBSI’s announcement.