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Insurance Bulletin 2023-02 – Guidance: Incentive Management Guidance

Bulletins and notices.

On November 30, 2022, the Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organization (CISRO) jointly published the Incentive Management Guidance (IMG). The IMG sets out the expectations of the CCIR and CISRO for the management of incentive arrangements for the sale and servicing of insurance products. The IMG provides additional details which complement the Conduct of Insurance Business and the Fair Treatment of Customers guidance (FTC), which was released in September 2018.

The IMG provides clarity on compensation and conflicts of interest under section 6 (Customer Outcomes and Expectations) of the FTC. The IMG applies to insurers and intermediaries and is a principles-based guidance.

The IMG covers the areas of: 

  1. governance
  2. design and management of incentive arrangements
  3. risks of unfair outcomes to Customer
  4. controls

FCNB’s Insurance Division participated in the design of the IMG.

It is the expectation of the Insurance Division that insurers and intermediaries adopt the principles as outlined in the IMG and ensure that measures are in place to abide by them.

The full document can be found on the CCIR website: 3735 (

Should you have any questions or concerns regarding the FTC or IMG, please contact FCNB’s Insurance Division at (866)-933-2222 or by email at