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
Although the review of the regulation of managing general agencies by the Canadian Council of Insurance Regulators is still ongoing, the insurance industry is making it clear that it is dead set against the implementation of any restrictions on an advisor’s ability to transact with MGAs.In a paper published in Feb-ruary, the CCIR had dedicated […]
Regulators’ paper looks at oversight duties of MGAs, insurers
Growth of MGA distribution model may have created risks to consumers
A CCIR report two years in the making will help settle whether there are risks involved for consumers of life and health insurance
Industry review considering whether OSFI guideline should apply to this growing industry