Ontario's insurance regulator has reported uneven oversight among life and health insurers using managing general agents. Its October 19 release describes responses from 8 insurers representing about 65% of the market. All delegated some agent recruiting, screening, training or monitoring to MGAs, while fewer than 75% conducted formal reviews of their MGAs and agents. The sample doesn't establish that every insurer or MGA operates the same way.
FSRA says the next questionnaire phase will take place this fiscal year. The findings will inform supervision, policymaking and work on Ontario's proposed MGA licensing framework. This announcement reports supervisory evidence, not the enactment of that proposed framework. For insurance businesses reviewing delegated work, the useful distinction is between assigning a function and checking how it's performed. The release gives them a concrete reason to examine their own review arrangements without assuming that delegation itself establishes a compliance failure.