Life insurance coverage has increased over the past decade given larger mortgages and a higher cost of living
Reforms follow a review that found shortcomings in existing arrangements
Regulators has concerns about conflicts, consumer value and competition
New regime aims to enhance consumer protection, set industry standards
FSRA says higher fees due to rising technology, business costs
FSRA is also proposing a penalty of $80,000 for the individual involved
Regulator follows CISRO, FSRA with tougher exam administration policy
Provincial authorities are targeting licensing exam security, MGAs, seg fund disclosures and other issues
Should insurance be offered by advisors as part of a holistic financial plan or sold as a complex product by expert salespeople?
As regulatory oversight increases, advisors grapple with succession, financial planning and independence