Deadline extensions for insurance agents
On March 27, FSRA announced that we will be extending the deadline for insurance agents to renew their licences by 60 days. We are now providing further details.
In light of COVID-19, we understand you may be experiencing disruptions to your business.
For insurance agents:
- whose licence expired since March 15 or will expire at any time up to June 30, 2020.
- or who need to fulfill continuing education credit requirements
FSRA has extended the deadline to renew your licence by 60 days after your licence expires. The extension is retroactive to March 15.
Life insurance agents also have a 60-day extension to complete their continuing education requirements.
This is to provide you with the flexibility you need during this difficult time.
If you have any questions or need more information, contact us at email@example.com.
What this means for you
You can continue to conduct insurance business for up to 60 days after your licence expires and submit your renewal application at any time during the extension period. Please apply online through Licensing Link.
If you are a sponsored agent, please contact your insurer to initiate your application. You will be prompted to do this in Licensing Link when you apply for renewal.
Continuing Education (CE) Requirement – Life Insurance Agents only
If you are unable to complete your CE requirement due to business disruption, you may still proceed with the licence renewal application. FSRA will review your application, giving due consideration to current circumstances.
Errors & Omissions Insurance
Errors & Omissions (E&O) insurance is essential for protecting you and the consumer. It is important that you maintain E&O insurance throughout the licensing period.
To ensure your clients, the insurers you work with and the public have comfort that you remain licensed, we’ve updated the public registry to clarify your licensing status.
Effective June 8, 2019, FSRA assumed regulatory duties of the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario. Learn more about FSRA and its approach to achieving safety, fairness and choice in non-securities financial services at www.fsrao.ca.