PART XIV AGENTS, BROKERS AND ADJUSTERS
Regulations re: agent’s licences
392.8 (1) The Lieutenant Governor in Council may make regulations relating to licences authorizing a person to act as an insurance agent in Ontario, (a)  prescribing the matters that are required or permitted under sections 392.2 to 392.7 to be prescribed or to be done by regulation; (b)  prescribing requirements, qualifications and terms and conditions for the issuance or renewal of licences; (c)  providing for the holding of examinations for applicants for licences or for renewals of licences; (d)  classifying applicants for licences and restricting or prohibiting the licensing of any class of applicant; (e)  providing that subsection 392.3 (3) and subsections 392.6 (1) to (4) do not apply in circumstances specified in the regulations in respect of a licence for life insurance; (f)  prescribing the grounds upon which a licence may be revoked, suspended or not renewed; (g)  governing reports by insurers to the Chief Executive Officer on the suitability of an applicant or licensee to act as an agent; (h)  requiring insurers that appoint agents to act on their behalf to establish and maintain a system to screen each agent and supervise activities of each agent; (i)  prescribing, for each class of licence, standards of practice and duties of agents, including prescribing a code of ethics; (j)  governing the discipline of agents; (k)  regulating the method of handling premiums collected and requiring and regulating accounts and records to be maintained by agents; (l)  requiring agents to supply information and make returns to the Chief Executive Officer; (m)  requiring an agent to furnish a bond or other security and fixing the amount, form, requirements and terms thereof; (n)  requiring that agents who hold a licence for life insurance carry errors and omissions insurance, furnish a fidelity bond or belong to a compensation fund, and fixing the amount, form, requirements and terms thereof; (o)  regulating the replacement of an existing contract of life insurance by another contract of life insurance; (p)  prescribing the duties of insurers and agents in connection with the replacement of life insurance contracts; (q)  respecting any matter necessary or advisable to carry out effectively the intent and purpose of sections 392.2 to 392.7. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22; 2019, c. 14, Sched. 9, s. 14. (2) Repealed: 2019, c. 14, Sched. 9, s. 20. Scope of regulations (3) Regulations made under subsection (1) are in addition to the provisions of sections 392.2 to 392.7, even if the regulations concern a matter provided for in any of those sections. 2014, c. 9, Sched. 3, s. 15. Note: On a day to be named by proclamation of the Lieutenant Governor, section 392.8 of the Act is repealed. (See: 2017, c. 34, Sched. 21, s. 29) 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. 29 - not in force 2018, c. 8, Sched. 13, s. 22 - 08/06/2019 2019, c. 14, Sched. 9, s. 14 (1, 2), 20 - 10/12/2019 393 Repealed: 2019, c. 14, Sched. 9, s. 20. Section Amendments with date in force (d/m/y) 1994, c. 11, s. 339 (1-8, 10) - 01/02/1995; 1997, c. 19, s. 10 (33) - 10/10/1997; 1997, c. 28, s. 123 (1-4) - 01/07/1998 2002, c. 18, Sched. H, s. 4 (34) - 30/04/2007 2004, c. 31, Sched. 20, s. 8 (1, 2) - 16/12/2004 2006, c. 19, Sched. C, s. 1 (1) - 22/06/2006; 2006, c. 33, Sched. O, s. 13 - 05/05/2008 2012, c. 8, Sched. 23, s. 70 (1, 2) - 01/01/2013 2014, c. 9, Sched. 3, s. 16 (2-18) - 01/01/2015 2018, c. 8, Sched. 13, s. 22, 23 - 08/06/2019 2019, c. 14, Sched. 9, s. 20 - 10/12/2019 Provisions Relating to Agents and Brokers Generally