FSRA & LLQP Licensing Disclosure

FSRA Licensing Information

PolicyScanner Brokerage Incorporated is licensed by the Financial Services Regulatory Authority of Ontario (FSRA) to operate as a life insurance brokerage in Ontario, Canada.

What FSRA Licensing Means

• Regulatory Oversight: We are subject to comprehensive regulatory oversight by FSRA
• Consumer Protection: FSRA ensures we meet strict standards for consumer protection
• Professional Standards: We must demonstrate ongoing suitability and competence
• Compliance Monitoring: FSRA conducts regular audits and compliance reviews
• Financial Responsibility: We maintain required errors and omissions insurance

LLQP Certification

Every advisor at PolicyScanner holds current LLQP (Life License Qualification Program) certification — the mandatory professional qualification for life insurance sales in Canada.

LLQP Requirements

To earn LLQP certification, our advisors must:

• Complete approved training course: 100+ hours of comprehensive curriculum covering life insurance, accident & sickness insurance, ethics, and segregated funds
• Pass provincial examinations: 4 separate module exams with 60% minimum pass rate
• Meet character requirements: Criminal background checks and suitability assessment
• Maintain continuing education: 30 CE credits every 2 years

Regulatory Compliance

PolicyScanner operates under a comprehensive regulatory compliance framework that includes:

• Ontario Insurance Act: Full compliance with provincial insurance legislation
• FSRA Regulations: Adherence to all FSRA rules and guidelines
• CISRO Standards: Compliance with Canadian Insurance Services Regulatory Organizations standards
• Industry Best Practices: Following established industry best practices for consumer protection

Consumer Rights

As a FSRA-licensed brokerage, we are required to respect your rights, including:

• Right to clear, accurate information about products and services
• Right to access multiple insurance options and competitive quotes
• Right to protection of your personal and financial information
• Right to formal complaint and dispute resolution processes

Professional Standards

Errors and Omissions Insurance

As required by FSRA, we maintain comprehensive Errors and Omissions (E&O) insurance coverage:

• Minimum coverage: $1 million per occurrence
• Extended coverage: Protection against fraudulent acts
• Consumer protection: Financial protection for clients in case of professional negligence
• Continuous coverage: Maintained throughout our license period

Ongoing Requirements

License Renewal: Our FSRA license requires regular renewal every two years, including suitability review, compliance verification, and maintenance of E&O insurance.

Continuing Education: All PolicyScanner advisors must complete 30 CE credits every 2 years for license renewal, covering technical aspects of life insurance and industry developments.

Consumer Protection

Complaint Process

If you have concerns about our services, you have access to:

• Direct resolution: Contact us directly to resolve any issues
• FSRA complaint: File a complaint with our regulator if needed
• OLHI assistance: OmbudService for Life and Health Insurance for policy disputes
• Legal remedies: Courts and other legal remedies as available

License Verification

You can independently verify our licensing status through:

• FSRA website: Search for license #41964M at www.fsrao.ca
• Direct inquiry: Contact FSRA directly at (416) 250-7250

Contact Information

PolicyScanner Brokerage Incorporated (FSRA #41964M) · Licensed Life Insurance Brokerage — Ontario, Canada · All advisors are LLQP-certified professionals · Last Updated: June 28, 2025