NU Online News Service, Oct. 4, 3:15 p.m. – The Canadian Council of Insurance Regulators says it has approved harmonization proposals for a national life agent proficiency standard.
The move will reduce regulatory complexity and enhance internal trade while protecting Canadian consumers, the council says.
The standard will be phased in over the next four years. Implementation depends on final ratification by all individual jurisdictions except for Quebec. Quebec already has a similar program in place.