FSRA promotes high standards of insurance agent conduct to protect consumers

The Financial Services Regulatory Authority of Ontario (FSRA) is committed to protecting the interests of Life & Health Insurance consumers.

Insurance agents are required to treat consumers fairly and in accordance with the Insurance Act and its regulations. Insurance companies must monitor agent conduct and report unsuitable agents to FSRA. They may do so using a Life Agent Reporting Form (LARF).

From April 1, 2020 to March 31, 2021, FSRA received and reviewed 57 LARFs. In 78% of cases, FSRA escalated for further investigation, issued a letter of warning or required a licence surrender. FSRA also continued to investigate open LARFs from the previous fiscal year. We took action on nine of 19 open cases by commencing regulatory enforcement proceedings on six cases and closing three LARFs.

To further protect consumers, FSRA created a life and health agent conduct team in late 2020. This team supervises agents’ conduct and business practices, and reviews agents who are the subject of a LARF. FSRA will share its life and health agent supervisory framework in the coming months.

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FSRA is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at