Regulation - LGIC
Service Provider Licensing - Proposed Amendment to O. Reg. 7/00 (Unfair or Deceptive Acts or Practices)
Regulation Number(s):
Ontario Regulation 7/00 (Unfair or Deceptive Acts or Practices)
Instrument Type:
Regulation - LGIC
Bill or Act:
Insurance Act
Summary of Decision:
The amendment to Ontario Regulation 7/00 (Unfair or Deceptive Acts or Practices) has been approved.
Further Information:
Financial Services Commission of Ontario – Service Providers
Ontario Regulation 7/00 (Unfair or Deceptive Acts or Practices)
Insurance Act
Ontario Regulation 231/14
Proposal Number:
14-MOF017
Posting Date:
September 30, 2014
Summary of Proposal:
This amendment would make it an unfair or deceptive act or practice (UDAP) for a person who provides or offers to provide goods or services for the benefit of a person who claims statutory accident benefits to communicate any false, misleading or deceptive information regarding their business or billing practices, services provided, or any other matter related to licensing.
This UDAP is intended to apply to both licensed and unlicensed service providers. An unlicensed service provider may not advertise that they are a licensed provider. A licensed provider that has had their licence suspended or revoked may not continue to advertise that they are licensed.
This amendment would ensure that consumers can identify licence holders and avoid confusion about what licence holder status means. This will also discourage inaccurate claims about what a licence signifies.
This UDAP is intended to apply to both licensed and unlicensed service providers. An unlicensed service provider may not advertise that they are a licensed provider. A licensed provider that has had their licence suspended or revoked may not continue to advertise that they are licensed.
This amendment would ensure that consumers can identify licence holders and avoid confusion about what licence holder status means. This will also discourage inaccurate claims about what a licence signifies.
Contact Address:
Senior Manager
Insurance Policy Unit
Financial Institutions Policy Branch
Ministry of Finance
95 Grosvenor Street
Frost Building North, 4th Floor
Toronto, ON
M7A 1Z1
Insurance Policy Unit
Financial Institutions Policy Branch
Ministry of Finance
95 Grosvenor Street
Frost Building North, 4th Floor
Toronto, ON
M7A 1Z1
Effective Date:
December 1, 2014
Decision:
Approved