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In insurance, a managing general agent is defined legally as "an individual or business entity appointed by an underwriting insurer to solicit applications from agents for insurance contracts or to negotiate insurance contracts on behalf of an insurer and, if authorized to do so by an insurer, to effectuate and countersign insurance contracts".
As a regulatory agency, FCAC can exercise its enforcement powers to ensure that federally regulated financial entities comply with the consumer provisions of the various federal acts relating to financial services, including: the Bank Act [3] the Insurance Companies Act [4] the Trust and Loan Companies Act [5] the Cooperative Credit ...
An insurance broker is an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation. An insurance broker is distinct from an insurance agent in that a broker typically acts on behalf of a client by negotiating with multiple insurers, while an agent represents one or more specific insurers under a contract. [1]
Brokers for auto, home or life insurance are professional intermediaries who help individuals, businesses and organizations secure insurance coverage. They work independently, meaning they don’t ...
In general, the industry in Canada is segmented into three channels of advisers: MGA, MFDA and IIROC. However, there is little regulatory control exercised over use of the term, and, as such, many insurance brokers, insurance agents, securities brokers, financial planners and others identify themselves as financial advisers.
Toronto Mutual Life Insurance Company 1934 2002 Founded as the Ancient Foresters’ Mutual Life Insurance Company. Changed name in 1939. Merged with Western Life to form Unity Life of Canada (now Foresters Life). Town and Country Mutual Insurance Company 2001 2021 Formed through the merger of Lobo Mutual, Ekfrid Mutual and East Williams Mutual.
LLQP (Life Licence Qualification Program) is part of the Canadian licensing regime for life insurance sales people. Before an advisor in the financial services sector is allowed to begin selling life insurance products, they must complete and pass LLQP, and earn a certificate of completion.
L'Unique General Insurance: is a property and casualty insurance provider that was acquired by La Capitale in 2004. As a subsidiary of La Capitale General Insurance, L'Unique General Insurance manages a network of more than 300 independent insurance brokerage firms in Quebec, Ontario, Alberta, New Brunswick, Nova Scotia and Prince Edward Island.