No. L& H- 01/06
– Life & Health
Changes to Licence Application and Renewal Process
To the attention of licensed Insurance Agents
Since the introduction of the Internet Application System (IAS) in 2001, the on-line licensing system of the Financial Services Commission of Ontario (FSCO), approximately 30,000 licence transactions and more than half of all agent licence renewals in Ontario have been successfully completed. IAS is being enhanced to accommodate more types of licensing transactions and has been re-branded as Licensing Link.
Effective July 4, 2006, all licensing transactions for insurance agents must be completed on-line via Licensing Link. Paper applications will no longer be accepted. Licensing Link helps to control costs by eliminating inefficient paper-based processing.
Licensing Link is now available for use, 24-hours a day, seven days a week. Licensing Link is fast, secure, and convenient. You can use the system to:
- renew your General, Life, and Accident & Sickness insurance agent licence
- update your address information
- confirm your move from Life Level I to Level II
- pay for new applications, renewals, and transfers with a credit card
- change your sponsorship status
Licence renewals through Licensing Link can take as little as 15 minutes to process, while new applications are generally processed within 48 hours. A valid email address is required to access the system. Licensing Link immediately updates agent information on FSCO’s website, providing insurers with the most up-to-date information on the status of an agent’s licence. Insurers are encouraged to use FSCO’s website to confirm official licence information, rather than requesting a paper facsimile of a licence, which may not always reflect a recent change in status and may be susceptible to tampering or counterfeiting. In the future, FSCO plans to eliminate the use of paper licences altogether.
To renew your licence online, visit www.fsco.gov.on.ca and click on “Licensing Link.”
If you experience a technical problem while using Licensing Link or require further assistance, help is available by calling FSCO at (416) 250-9209 or 1-800-263-0541 (toll free), or by e-mailing elicence@fsco.gov.on.ca. You may also refer to the attached Questions & Answers for information.
An Information Bulletin has also been sent to Insurers to let them know about the features of FSCO’s Licensing Link, and the July 4, 2006, deadline.
Bob Christie
Chief Executive Officer
Financial Services Commission of Ontario
January 17, 2006
Attachment:
Financial Services Commission of Ontario