Service Providers eNewsletter – Issue #17
If your trade name expires, it will be removed from FSCO's Public Registry of Licensed Service Providers. This means insurers will no longer be able to pay you directly for listed expenses under that trade name.
To ensure that your trade name remains valid, you must renew it every five years. To renew:
Once you have renewed the registration of your trade name with ServiceOntario:
Remember: You are responsible for making sure FSCO has your up-to-date business information.
Automated notifications to principal representatives
FSCO will send automated emails to the principal representative when the trade name associated with the service provider's licence is about to expire. Another email will advise the principal representative when FSCO has removed the trade name from the service provider licence.
|TIP: Always check the "spam" or "junk" folder of your email account. Your Internet service provider or antivirus software may be blocking FSCO email from entering your inbox.|
For more information, go to FSCO's Questions & Answers on Licensing Application and Corporate Name Changes.
Calling all principal reps: Get ready for the 2015 annual information return & annual regulatory fee
All service providers holding a licence as of December 31, 2015 must complete an annual information return (AIR) and pay the annual regulatory fee to FSCO no later than March 31, 2016.
Service providers' principal representatives are responsible for making sure this happens. (See details of this requirement under Regulation 90/14 of the Insurance Act .)
Check your FSCO account for a personalized weblink to complete the AIR electronically. Make sure you are running Internet Explorer 11 (Windows) or Safari (OS X).
No business in 2015?
If you were holding a service provider licence from FSCO on December 31, 2015, but you did not do any business in 2015, you must still file the 2015 AIR.
If you did not hold a service provider licence as of December 31, 2015, but received one in 2016, you must pay the annual regulatory fee upon receipt of the licence. This fee covers the regulatory fiscal year starting April 1, 2016.
For more information about the AIR, check out Frequently Asked Questions on the AIR and Annual Regulatory Fee and the sample AIR on FSCO's website.
Compliance: Moving from education to enforcement
FSCO is into its second full year of licensing and regulating service providers who bill auto insurers directly for listed expenses.
During the early period of operations, FSCO appreciated that the licensed service provider community was new to regulation. For this reason, FSCO's regulatory exercises, such as on-site examinations, were used as educational opportunities. FSCO's activities in the sector gave service providers help and advice on how to implement best practices and procedures for day-to-day operations.
As the sector becomes more familiar with its compliance obligations, FSCO will be re-focusing its efforts.
Going forward, FSCO may take enforcement action against service providers who fail to comply with the law. For example: a service provider who fails to verify patient identity before an assessment or treatment may be subject to an administrative monetary penalty; a service provider who fails to submit the AIR will be subject to an administrative monetary policy, licence revocation or licence suspension.
To ensure ongoing compliance, service providers should regularly review the Standards for Business Systems and Practices under Regulation 90/14 of the Insurance Act .
Public service provider registry improved
Check out the new advanced search feature on FSCO's Public Registry of Licensed Service Providers. Claimants and auto insurers can now search for a licensed service provider by city, postal code, facility address and by principal representative.
Toll free: 1-800-668-0128