Ontario regulator provides details on licensing, CE extension for life agents

By James Langton | April 27, 2020 | Last updated on April 27, 2020
1 min read
Checking monthly activities and appointments at the office
© Elizabeth Crego / 123RF Stock Photo

Insurance agents in Ontario will have an extra 60 days to renew their licences and complete their continuing education (CE) requirements.

Last month, the Financial Services Regulatory Authority of Ontario (FSRA) said it planned to provide insurance agents with a 60-day licensing extension due to the disruption caused by the Covid-19 outbreak.

Today, it clarified that the extension will apply to any agent whose licence expires between March 15 and June 30. It also set out that life agents will have an additional 60 days to complete their CE requirements.

The extension means that agents “can continue to conduct insurance business for up to 60 days after” their licences expire, and that they can submit a renewal application anytime during the extension period, FSRA said.

Additionally, agents who are unable to complete their CE requirements due to business disruption can still proceed with the licence renewal process.

“FSRA will review your application, giving due consideration to current circumstances,” it said.

The regulator also stressed that it’s important for agents to maintain their errors and omissions insurance throughout their licensing period.

James Langton headshot

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.