CGIB January 2017 Newsletter


New reporting requirement is effective immediately:

Report the life insurers you represent, have a contract with and/or on whose behalf you sell insurance products.

In November 2015, the Financial Services Commission of Ontario (FSCO) introduced a new initiative to enhance life and accident and sickness insurance agents’ (agents) compliance with errors and omissions (E&O) insurance requirements. This included the mandatory updating of E&O insurance information in FSCO’s online insurance licensing system, Licensing Link.

Agents’ co-operation with this initiative has resulted in improved E&O compliance across the industry and has enhanced the market intelligence gathered by FSCO. However, only 92 per cent of agents have complied with this requirement, as of November 2016.

The Superintendent of Financial Services (Superintendent) is now introducing a new agent reporting requirement about which you need to be aware. Effective immediately, ALL licensed agents in Ontario must use Licensing Link to report the name of EVERY Ontario licensed life insurer the agent represents, has a contract with and/or on whose behalf the agent sells insurance products.

Agents can begin reporting this information immediately in Licensing Link. Agents are required, at a minimum, to report this information when renewing their licence and when updating their E&O insurance information.

Please also note that if your E&O insurance coverage has expired, or is not updated in Licensing Link, the following comment will appear in red on your public profile on FSCO’s public registry: “FSCO does not have current E&O information for this agent.” If your E&O insurance is kept up to date, this comment will not appear on your profile.

FSCO’s goal is to help ensure all agents renew their E&O insurance each year, as legally required.

Find out more.


Errors & Omissions Insurance for Life Insurance Agents in Ontario

Effective December 1st, changes have been made to Licensing Link that will improve FSCO’s information on the current status of an individual life insurance agent’s errors and omissions insurance coverage. As well, FSCO will be more active in engaging life insurance companies in oversight of agent non-compliance.

Although the information provided below focusses on the announcement from Ontario, you should be aware that provincial insurance regulators across Canada are actively enforcing the requirement that life agents have errors and omissions insurance in place, and are taking disciplinary action for lapses and gaps in E&O.

What’s changed?
FSCO’s enhancements to Licensing Link allow insurers to download information about their contracted agents’ E&O insurance, including the policy number, expiry date and carrier. The company’s list of agents, and their E&O information, will change as agents update their information on Licensing Link. Agents’ information will not be accessible to other insurers, or to the public.

Starting December 1, 2016, FSCO will provide insurers with a weekly email with the number of their agents who are not in compliance with the E&O requirements. Insurers are expected to regularly download and check their updated list, and follow-up with agents as required.

What you need to do
You can enter the names of the life insurers you represent, have a contract with, and/or on whose behalf you sell insurance products now. At a minimum, you will be required to report this information at licence renewal, or when there are changes to your E&O insurance. When entering Licensing Link, you will find a drop down menu of all insurers. Click on the names of the insurers relevant to you.

Remember – If you are planning to retire or leave the business, you must surrender your life licence. Until the surrender of your licence is approved, you are required to fulfill all the licensing requirements, including maintaining E&O. More information on surrendering your Ontario life licence is available here.

If you have questions relating to FSCO’s new Licensing Link requirements, please contact FSCO’s Call Centre at 1-800-668-0128 (toll-free) or (416) 250-7250.



BenefitsGenius Live Webinar – January 4th:

Howard Kettner’s upcoming webinar to help you “WOW! Your Way To Revenue”. Great way to kick-off the New Year.  It’s about getting your audience off the merry-go-round – and WOWing them, achieving a 99% retention rate, and getting referrals without asking. A must-attend as we start 2017:



Is private, for-profit care making Canada’s health system inefficient?
Plans need to consider going beyond DINs in contract language on drug coverage
Methodology of Fraser Institute’s patient wait-time study called into question
Option Consommateurs says insurance should only be sold online when an advisor is involved
Federal Liberals eye tax on private health and dental plans, a move that would take in about $2.9B
How should the Patented Medicine Prices Review Board be changed?
20 interviews with 20 leaders
Look beyond plan design and expenses to control benefit costs
Insurance and investment advisors require different regulatory treatment
Pfizer issued biggest ever fine in drug price gouging case
Quebec proposes health tax relief for small employers
Agent fined after discovery of doctored E&O certificate
The debate over drug formularies
What to do when FSCO comes knocking on a plan sponsor’s door

Seminars and Educational Events


BenefitsGenius Live Webinar:

Join Howard Kettner and the growing community for a free one-hour webinar on “WOW! Your Way To Revenue”.

This webinar will give you a new outlook on your prospecting and client-care to start 2017, where you’ll get insights to attract more clients, achieve a 99% retention rate, and get referrals without asking.

If you haven’t yet attended a BenefitsGenius webinar, you don’t want to miss out. Howard has a proven track record of success in his own 30+ years in the industry PLUS he’s helped advisors across Canada achieve similar results.

Click HERE to Register Today:  



February 25, 2016 – Toronto – Fairmont Royal York

The theme of this year’s conference is: The Pipeline, the Plan, the Patient

The oncology pipeline is expanding. There are currently hundreds of cancer drugs in development. How will new treatments impact patients, caregivers and payers? What are the education gaps that plan sponsors need to understand now? What opportunities exist for a changing benefit plan and a cancer patient?


Plan sponsors (employers), plan advisors, group insurers, TPA’s, PBM’s, industry experts and patient associations.

COST:FREE for plan Sponsors/Employers.

$99 + TAX for Industry Providers
For more information, go to:

Complimentary Webinar

Understanding the Impact of Irritable Bowel Syndrome with Diarrhea (IBS-D) in the Workplace

Mapol Inc. invites you to attend a complimentary webinar sponsored by Allergan Inc.
The Webinar will be held on Tuesday, January 24, 2017 from 1:00 p.m. to 2:00 p.m., Eastern Standard Time.


– Dr. Gabor Kandel, Gastroenterologist & Director, Postgraduate Training, Internal Medicine, St. Michael’s Hospital and Associate Professor of Medicine, University of Toronto

The Learning Objectives are to:
Understand the multiple symptoms of IBS-D and the impact these symptoms can have on employee quality of life, physical health, mental health and productivity at work.
Learn what treatments are currently being used to treat the multiple symptoms of IBS-D and what new treatment will be available soon.

Please follow the below steps to register:
Click the registration link.

Click “Register” (grey button towards the bottom center of the page).
On the registration form, enter your information and then click “Submit”.

An application for 1 CE credit has been submitted to the Institute for Advanced Financial Education.

Please note, this complimentary webinar is limited to invited guests including insurers, PBMs, TPAs, benefits consultants, and employers.

Tuesday, Jan. 24, 2017
1:00 to 2:00 p.m. EST
Register Now

Dr. Gabor Kandel, Gastroenterologist & Director, St. Michael’s Hospital and Associate Professor of Medicine, University of Toronto

If you have any difficulty with registering, please contact Corinne at


Trendspotting: Innovation in Employee Benefits

What’s new and leading-edge in the employee benefits industry? What are the most important trends you need to know about –today and in the future?

This year’s GIPC event is all about innovation, including topics such as:

•New and emerging drug therapies;
•Innovative health management pilot projects; and
•Fireside chats on key issues and trends in the group insurance and pharma space.

Don’t miss it! We look forward to seeing you then.

GIPC’s Next Annual Event:

Tuesday, April 4th, 2017 from 8:00 a.m. to 12:00 p.m.

Manulife Financial
250 Bloor Street East, Toronto
International Rooms A, B & C (Main Floor)

Visit our website at

April 11-12, 2017 – Toronto – Sheraton Centre Toronto Hotel

The theme of this year’s conference is: Creating the Winning Plan

This year’s agenda includes educational presentations, case studies and in-depth panel discussions to give you the tools you need to develop new solutions, reduce costs, improve your workforce and manage benefits risks. You’ll also benefit from numerous networking opportunities with senior-level professionals at both private and public sector organizations.

Event Highlights:

Expert industry speakers

2 days of informative, actionable sessions

2 conference tracks: Group Benefits, Defined Contribution – allowing you to tailor your conference experience

Hundreds of industry peers to network with


Special early bird price: $551+ HST
(until March 1, 2017)

(March 1 to March 31, 2017)

Ask about our group rate for 10 attendees or more!

Don’t miss out! Register today at

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