Annual report highlights examinations of high-risk agents
TORONTO, May 2, 2023 /CNW/ – Through market conduct supervision and enforcement activities, The Financial Services Regulatory Authority of ont (FSRA) is working to ensure life and health insurance agents are compliant with legislation, regulations, and that they are working to achieve fair outcomes for customers.
In 2021-22, the FSRA reviewed 115 higher-risk life agents and the results are included in the first Life and Health Insurance Agent Supervision Report which is being released today. Annual reporting of life agent supervision contributes to public confidence through promoting transparency, disclosure of information, and deterring…
what does health insurance through the marketplace mean?
Unlicensed health insurer fined, ordered to stop operations in Minnesota
(FOX 9) – A health insurance company based in Texas, but operating in Minnesota, has been fined and ordered to stop selling unlicensed insurance policies in Minnesota.
Salvasen Health, its owner Barry Glenn, and multiple affiliates have been fined $553,000 by the Minnesota Department of Commerce (DOC) and ordered to stop their operations in Minnesota, the DOC said in an announcement Wednesday.
According to the department, Salvasen and affiliates were not licensed in Minnesota to sell health insurance plans but sold unapproved health plans to Minnesota consumers regardless.
The DOC provides regulatory oversight of insurance for Minnesota and initially acted…
Integration of My Number and accelerating health insurance cards
With the government aiming to integrate health insurance cards into My Number cards in the fall of next year, medical institutions will be required in principle to accept My Number cards with health insurance functions starting this month.
However, concerns remain among medical and welfare workers who worry about the possibility of people who don’t own My Number cards having difficulty seeing a doctor, or issues related to handling the My Number cards of patients and welfare service users.
“If (health insurance cards are) integrated into My Number cards, the burden of safekeeping them will become incomparably tougher,” said an…