June 13, 2012
Mr Ron Fullan
Chair, Canadian Insurance Services Regulatory Organizations
Saskatchewan Life Insurance Council,
310 - 2631 - 28th Avenue,
Regina, SK S4S 6X3
Dear Mr Fullan,
I am writing to you on behalf of the Canadian Association of Financial Institutions in Insurance (CAFII). CAFII represents insurance companies who offer insurance through a variety of distribution methods and across all Canadian jurisdictions.
We are writing to voice our support for the establishment of a national business number registration database. As you know, the CCIR has formed a Disciplinary Information Committee to look into the feasibility of a centralized cross‐Canada database documenting misconduct. The Alberta Insurance Council has also announced its intention to establish a nationwide business registration number database which would also list any infractions. CAFII supports this direction and in particular hopes that a single nationwide system is developed with the support of all provinces. CISRO, whose membership is comprised of the regulatory authorities for insurance intermediaries from across Canada, is ideally positioned to support and advance a central licensee database. From an industry perspective, a central database would facilitate multi-jurisdictional licensing of intermediaries as well as assist insurers and regulators in undertaking background checks of licensees.
CAFII appreciates your attention to this matter.