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ARTICLE · 02 OCTOBER 2020

Ontario Insurance Regulator Has Several Priorities For The Life Insurance Sector

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The Financial Services Regulatory Authority of Ontario (FSRA), the Ontario insurance regulator, has identified two key areas of assessment of life and health insurers licensed in Ontario for 2020-2021.

CanadaInsurance
Jill E. McCutcheon
Jill E. McCutcheon
Kelly Morris
Kelly Morris
Marissa Daniels
Marissa Daniels
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The Financial Services Regulatory Authority of Ontario (FSRA), the Ontario insurance regulator, has identified two key areas of assessment of life and health insurers licensed in Ontario for 2020-2021.

What you need to know

FSRA's two key identified areas of assessment are:

  • implementing fair treatment of customers (FTC) principles across distribution channels through the lifecycle of the insurance product; and
  • reviewing the relationships between insurance companies and managing general agencies (MGAs) in the context of an ever-evolving distribution system.

Fair treatment of customers

FSRA will be reviewing insurance companies with respect to the following areas.

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