Consultation on Guidelines for Life Insurance MGAs 2021

The Insurance Council is consulting licensees and stakeholders on updated regulatory guidance for managing general agents (MGAs) in the Life Insurance sector. We are inviting written feedback on a draft document: Guidelines for Managing General Agents’ Role and Responsibilities in the Distribution of Life Insurance in British Columbia.

Consultation opened in mid-December 2020 and will remain open until February 15, 2021. The input gathered will inform the preparation of the final version of the guidelines to be proposed for the approval of the Insurance Council’s voting members, and future implementation.

Looking for more information? Want to provide your feedback? You can find background information, how to send us your comments, as well as the draft guideline document on our consultation website.