The Financial Services Regulatory Authority of Ontario announced it will distribute a questionnaire to select Ontario individual life and health insurers to better understand managing general agent (MGA) distribution channels and insurer-MGA relationships, with a focus on fair consumer outcomes. The questionnaire, to be issued on May 26, 2025, will cover insurers’ MGA distribution channels and related business practices as part of a phased approach. The initiative follows FSRA supervisory reviews of life and health insurers and MGAs in recent years that identified potential market conduct and consumer risks, and the information collected is intended to help identify additional risks and inform future supervisory priorities.
Financial Services Regulatory Authority of Ontario 2025-05-12
Financial Services Regulatory Authority of Ontario to send questionnaire to select life and health insurers on managing general agent distribution practices
The Financial Services Regulatory Authority of Ontario will issue a questionnaire to select Ontario individual life and health insurers to assess managing general agent distribution channels and insurer-MGA relationships. This initiative aims to identify market conduct and consumer risks and inform future supervisory priorities. The questionnaire follows recent FSRA reviews highlighting potential risks in these areas.