Single database improves access for consumers and industry stakeholders
The CCIR wants to know what insurance products are planned
Regulators are looking at how to ensure consumer protection
A national database would allow users to determine whether an insurance agent has faced disciplinary action
The CCIR issues its strongest call yet for greater oversight of MGAs by insurers. But MGAs say the changes could be burdensome
Danielle Boulet, chairwoman of the Canadian Council of Insurance Regulators, says CCIR wants to formalize the industry’s long-standing concern about fair treatment of clients
CCIR paper recommends insurers clearly outline a requirement of agent supervision in their contracts with MGAs
New regulatory requirements for managing general agencies in British Columbia
Notice seeks to clearly define an MGA’s compliance responsibilities
Agent supervision is a key area of concern