PART XIV AGENTS, BROKERS AND ADJUSTERS
Insurance agent’s licence, scope of authority
392.2 (1) A person who holds a licence issued under this Part to act as an insurance agent in Ontario is authorized to act as such in accordance with the requirements of this Act, the regulations and the Authority rules and subject to the restrictions applicable to the class of licence issued to the person. 2014, c. 9, Sched. 3, s. 15; 2021, c. 8, Sched. 5, s. 2. Classes of agent’s licence (2) The following classes of licence authorizing a person to act as an insurance agent in Ontario may be issued under this Part: 1.  Licence for life insurance and accident and sickness insurance. 2.  Licence for accident and sickness insurance. 3.  Licence for all classes of insurance other than life insurance. 2014, c. 9, Sched. 3, s. 15. Same (3) An agent’s licence is subject to such terms and conditions as may be prescribed for the applicable class of licence, such conditions as may be imposed by the Chief Executive Officer, and such requirements, including reporting requirements, as may be prescribed for that class of licence. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22. Authority of agent (4) A class of licence described in paragraph 2 or 3 of subsection (2) authorizes an agent to act for one insurer only, and the insurer itself must be licensed under this Act to undertake the applicable class of insurance. 2014, c. 9, Sched. 3, s. 15. Same (5) The agent’s licence for a class of licence described in paragraph 2 or 3 of subsection (2) must specify the name of the insurer that has appointed the agent to act on its behalf. 2014, c. 9, Sched. 3, s. 15. Offence (6) Every person who acts as an insurance agent in Ontario without the licence required by this Part, or does so while the person’s licence is suspended, is guilty of an offence. 2014, c. 9, Sched. 3, s. 15. Representation restricted (7) An agent holding a class of licence described in paragraph 2 or 3 of subsection (2) shall not make any representation to the public, by advertisement or otherwise, that the agent is an agent of any insurer other than the one specified in the licence for the purposes of selling the classes of insurance specified in the licence. 2014, c. 9, Sched. 3, s. 15. Insurance groups (8) Despite subsection (7), an agent may be licensed to act as an agent for an affiliated group of insurers that, in the opinion of the Chief Executive Officer, are carrying on business as a common undertaking and that affiliated group of insurers is deemed to be an insurer for the purpose of determining the agent’s authority to act as an agent under this Act. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22. Same (9) For the purposes of subsection (8), the following corporations and insurers are deemed to be an affiliated group of insurers carrying on business as a common undertaking: 1.  Every mutual insurance corporation that participates in the Fire Mutuals Guarantee Fund. 2.  Every insurer that is controlled by one or more mutual insurance corporations that participate in the Fire Mutuals Guarantee Fund as a result of investments made under Part XVII. 2014, c. 9, Sched. 3, s. 15. Section Amendments with date in force (d/m/y) 2014, c. 9, Sched. 3, s. 15 -01/01/2015 2017, c. 34, Sched. 21, s. 28 - no effect - see: 2021, c. 8, Sched. 5, s. 13 - 27/04/2021 2018, c. 8, Sched. 13, s. 22 - 08/06/2019; CTS 04 SE 18 - 1 2021, c. 8, Sched. 5, s. 2 - 01/04/2022