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Feb 25, 2022 · This Guidance outlines three licensee reporting requirements for life agents: errors and omissions insurance, continuing education, and agents’ contracted insurers. Scope. This Guidance applies to: life agents; corporate and partnership life agents; life insurance companies
This guidance on record keeping is applicable to life insurance companies, brokers and agents that are subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated Regulations.
Aug 27, 2019 · Agent Pipeline Report: This report will show you all the leads and prospects an agent is working with for any given month. Forecast future revenue and be better prepared for potential slow months by monitoring what’s in each agent’s pipeline.
Mar 23, 2022 · Information regarding what is included in such fees, whether premiums include certain fees, the forms of disclosure required in relation to commissions and fees, thresholds for disclosure – each differentiate across jurisdictions.
Life insurance companies, brokers and agents must fulfill specific obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations to help combat money laundering and terrorist financing in Canada.
A: The new life insurance agency guidelines include information on: • Clarification regarding the overall role of agencies in the distribution of insurance; • Factors that agencies should consider in determining a life agent’s suitability and risk; • Assessment of ongoing monitoring practices to manage risks effectively; and.
People also ask
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Does the Insurance Council determine who a client is?
FSRA’s role is to ensure agents and businesses that sell life and health insurance comply with Ontario’s laws, including meeting the qualifications and requirements for a license. Resources and guidance are available for you to successfully practice in Ontario.
