Archive: Jul 2015

Provincial regulators targeting sales of incidental insurance

27th Jul 2015

IFB Staff

Provincial regulators targeting sales of incidental insurance

Insurance regulators are taking a closer look at the sales of mortgage insurance, creditor’s insurance and other “incidental” insurance products. The new examination efforts come amid concerns that the individuals selling these policies aren’t qualified, and in many cases, aren’t licensed to sell insurance at all. Insurance agents have welcomed the regulatory changes, as they will offer better protection for consumers while also leveling the playing field in the distribution of insurance products. IFB also welcomes the decision of regulators to address this issue. We feel it’s unfair that individuals who are not subject to the same requirements and oversight of licensed representatives can sell insurance products. Read more about the issue and our stance in this article from Investment […]

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IFB one of several organizations to offer recommendations to the Ontario Securities Commission

27th Jul 2015

IFB Staff

IFB one of several organizations to offer recommendations to the Ontario Securities Commission

Canada’s largest provincial regulator has a number of priorities to address after various investment industry and investor advocates submitted comments to the OSC. High profile policy issues, such as a possible ban on trailer fees and the potential creation of a fiduciary duty for financial advisors, remain top regulatory priorities. In addition, several other issues have been raised, with concerns ranging from the deterioration of investor restitution to addressing climate change. In its comments to the OSC, Independent Financial Brokers advocated for coordination among regulators in the securities and insurance sectors. IFB commented that regulators establish a database that would allow consumers to view registration and disciplinary information for insurance advisors as well as securities-licensed advisors. Details about the various […]

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