Author Archives: mac-admin

Review of multi-level-marketing MGAs results in enforcement for 65 life agents

multi-level-marketing

October 3, 2023. The Financial Services Regulatory Authority of Ontario (FSRA) has taken enforcement action against 65 life agents contracted with managing general agencies (MGAs) that operate under a tiered-recruitment model. The clampdown, which includes the sale of unsuitable universal life policies, is part of FSRA’s strategy to strengthen oversight of the sector. Read more.

Insurance regulator takes action against life insurance sales practices

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October 3, 2023. Ontario’s insurance regulator says it has taken enforcement action after finding widespread deficiencies related to the sale of life insurance products. The Financial Services Regulatory Authority of Ontario says it looked into the conduct of life insurance agents at companies that use a multi-level marketing model for recruitment and found “unacceptable” levels […]