REGULATORY INTERPRETATION BULLETIN INSURANCE 2013-01 – SALE OF - TopicsExpress

REGULATORY INTERPRETATION BULLETIN INSURANCE 2013-01 – SALE OF GAP PRODUCTS More info: fcnb.ca/InsuranceBulletins The Financial and Consumer Services Commission has reason to believe that there may be individuals selling GAP insurance products in New Brunswick, mostly working at automobile dealerships, who do not hold an insurance agent or broker licence. GAP insurance products are considered to be automobile insurance products. Pursuant to section 351 of the New Brunswick Insurance Act, these products can only be sold by licensed insurance agents and brokers. Consequently, individuals selling GAP products are required to hold an other-than-life insurance broker or agent licence.

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