The Financial Services Commission of Ontario is reminding life agents that it they can renew their licences online.

FSCO estimates that it takes an average of 15 minutes to renew or upgrade a licence electronically. Agents can access the FSCO Web site 24 hours a day, seven days a week, as an option for renewing their licence.

Before logging on, agents should have their current Level I (if upgrading to a Level II) or Level II licence, home and business addresses, continuing education credits, the name of their errors and omissions insurance company, their policy number, and examination date, location and marks (if moving from Level I to Level II).

If renewing, or moving from Level I to Level II at the time the current licence expires, agents will need a valid VISA, MasterCard or American Express credit card in their own name.

Agents can automatically renew their Level II agent licence, or move from a Level I to Level II. There is no additional fee to complete this transaction electronically. In the future, FSCO expects to expand the e-licensing system to allow access to new Level I life agents.

Computers used to access the FSCO Web site must be capable of running either Microsoft Internet Explorer 4.0 or higher, or Netscape Navigator 4.77 or higher with 128-bit encryption.

Once the licence is successfully renewed or upgraded (either on-line or through a paper application), the agent licensing information on the FSCO Web site will be updated immediately.