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Ontario Proposes Narrowing Of Life & Health MGA Licensing Framework
The Ontario Ministry of Finance (“MOF”) has released a consultation proposing significant amendments to the province’s licensing framework for Life and Health Managing General Agents (“L&H MGAs”). The consultation represents the latest stage in a regulatory initiative that began in 2024, when the Ontario government amended the Insurance Act (Ontario) (the “Act”) to establish a dedicated licensing regime for L&H MGAs in response to consumer protection concerns identified within the life and health insurance distribution channel.
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