In response to these issues, FSRA took several actions. It issued 57 business practice letters, escalated 55 cases for further investigation, and closed 15 cases with no concerns. However, FSRA made it clear that insurers are responsible for their agents' conduct, including those contracted with distribution partners. The regulator urged insurers to ensure that customer interests are prioritized and that agents comply with all relevant regulations.
FSRA urges insurance firms to strengthen consumer safeguards
From Insurance Business