A new regulation concerning life agent licensing in Ontario took effect November 1. The new regulation, which revokes the previous one, sets out licensing requirements, including the implementation of the Life Licence Qualification Program.

Among other things, the new regulation also requires agents to:

  • hold $1 million in errors and omissions insurance;
  • to complete 30 hours of continuing education every two years; and
  • to disclose to clients any conflict of interest or potential conflict of interest associated with a transaction or recommendation.



The regulation also sets out various forms of prohibited conduct.