Description: In Canada, banks cannot promote insurance products on their websites. Recently, insurance brokers lodged a complaint alleging that RBC and BMO are flouting Ottawa’s rules by promoting insurance on their websites.
Source: The Globe and Mail
Date: April 23, 2012
Questions for Discussion:
- Do you agree that the Canadian government should stop banks from promoting insurance products on their website?
- From a consumer’s perspective, will it not be better to get all financial services from one service provider?
- Will the current rule encourage banks to acquire smaller insurance companies?