What is the role of the Canadian Life and Health Insurance Association (CLHIA)?

The Canadian Life and Health Insurance Association (CLHIA) plays a vital role in the life and health insurance industry by interpreting laws and creating industry guidelines. This involves developing a framework that helps insurance companies understand their regulatory environment and ensure compliance with government regulations. The CLHIA acts as a collective voice for the industry, advocating for fair policies and practices that benefit both insurers and consumers. By establishing guidelines, the association helps standardize practices across the industry, enhancing the overall integrity and functionality of life and health insurance services in Canada.

This role is essential in fostering a stable and transparent market, facilitating communication between insurers and regulatory bodies, and educating both industry stakeholders and the public about key issues in the insurance landscape.