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

Link: http://www.theglobeandmail.com/globe-investor/insurers-lodge-complaint-against-rbc-bmo/article2410371/

Questions for Discussion:

1. Do you agree that the Canadian government should stop banks from promoting insurance products on their website?
2. From a consumer’s perspective, will it not be better to get all financial services from one service provider?
3. Will the current rule encourage banks to acquire smaller insurance companies?