Insurance adjusters who want to surrender their licence will need to submit an application to the Financial Services Regulatory Authority of Ontario (FSRA).
About surrendering licences
If you no longer need your adjuster licence, you will need to apply to surrender your licence by submitting an application to FSRA. If your request is approved, this process will end your obligation to maintain all requirements and ensure you exit the adjusting business properly.
What is FSRA’s role?
FSRA’s licensing team will review your application to make sure the surrender is in the public’s best interest.
The licensing team will consider a number of factors, including:
- Are there any current disciplinary actions, outstanding complaints or investigations underway?
- Do you need to pay any administrative monetary penalties?
The licensing team may propose that you can surrender your licence but impose some conditions. In rarer cases, the licensing team may reject an application if there are serious concerns. If you disagree with the decision, you can request a hearing before the Financial Services Tribunal.
Effective date for the surrendered licence
It is important to keep in mind that your licence is not officially surrendered until the FSRA licensing team approves your application. You will receive a confirmation email once it is approved. Until then, you will need to continue to maintain all licensing requirements.
How to reinstate your licence after surrendering it
If you want to work as an adjuster again in the future, you can apply to reinstate your licence. The timelines will depend on whether you held a Full Adjuster Licence and the date your surrendered licence request was approved (i.e., the surrender date).
If you had a Full Adjuster Licence and the surrender date is:
- Less than two years ago, you can reinstate your licence. Review Reinstate my insurance adjuster licence for details.
- More than two years ago, you will have to pass the exam before you can be granted a Full Adjuster Licence. Review Reinstate my insurance adjuster licence for details.
Ready to surrender your licence?
Who can submit the application?
Either you or your adjusting firm can submit the surrender application.
How to submit
Follow these steps to submit the application to surrender your licence.
1. Download the Application for Surrender of an Insurance Adjuster Licence.
- Right click on the link and choose Save link as to download the PDF to your computer or drive.
2. Fill out the application electronically and email it to email@example.com.
3. FSRA will send you a confirmation email once the licensing team has completed its review, which should take approximately 10 business days. The three possible outcomes are:
- Your application is approved.
- Your application is approved with conditions
- Your application is rejected. Note: this happens in rare cases where there are serious concerns.
3. Until you receive an email confirmation that your application is approved, continue to maintain all requirements for your licence.