CCIR investigating regulatory changes for general agencies, wholsesale brokers and third party administrators

The Canadian Council of Insurance Regulators (CCIR) is looking into the regulation of general agencies, wholesale agencies, wholesale brokers and third party administrators.The CCIR’s agencies regulation committee will also review risks to consumers and legislative and regulatory issues arising from current and possible future applications of electronic commerce. If the council finds that significant issues exist, the committee will be developing recommendations for regulatory changes. Since there may be licensing issues involved, the committee will include representatives from both CCIR and the Canadian Insurance Services Regulatory Organizations (CISRO). The committee will have representation from both CCIR and CISRO, as licensing issues may be involved.