The Canadian Government doesn’t allow bank branches in Canada to promote or sell certain insurance products or promote insurance agents or companies.

In general, government restrictions state that banks can’t promote an insurance company, agent or broker unless:

• The company, agent or broker deals only in “authorized” types of insurance
• The promotion takes place outside of a branch and is directed to all credit card or personal account holders who receive regular statements, or to the general public

In addition, banks cannot promote an insurance policy unless:

• The coverage is an “authorized” type of insurance
• The product is Personal Accident/Royal Recover Assist and promotion is done outside the branch
• Promotion takes place outside of a branch and is directed to all credit card or personal account holders who receive regular statements, or to the general public