May 14, 2001, Toronto - On-line registration for Level II Life Insurance Agents is now a reality at the Financial Services Commission of Ontario (FSCO). Details of the new system were released in a bulletin published by FSCO today.
"We are always looking for ways to improve service to our stakeholders," said Dina Palozzi, Superintendent of Financial Services and CEO of FSCO. "Now applications will take mere minutes rather than weeks. We are excited about this first step towards a fully electronic registration system."
The first phase of the FSCO Internet Application System is designed to streamline the licensing process for Level II agents. The paperless system allows life agents to move from a Level I classification to Level II, or renew their Level II licenses 24 hours a day, 7 days a week from virtually anywhere.
This system, which was developed in consultation with the Canadian Association of Insurance and Financial Advisors, the Independent Financial Brokers of Canada and the Canadian Life and Health Insurance Association, still requires proof of the necessary education to meet the proficiency standards agreed to by the industry.
Future plans for the Internet Application System include allowing Level I life insurance agent registration, as well as the registration of mortgage brokers, other licensees and registrants regulated by FSCO.
Paper applications are still available for those agents who wish to use this method.
For more information on the Internet Application System or to obtain copies of the online application forms visit the "what's new" and "forms" section of the FSCO website - www.fsco.gov.on.ca
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