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Licensing, Certification and Designations

As insurance is truly everywhere, the industry requires subject matter expertise and experience from all facets of our labour market – from health care to transportation to food services. No matter your interests or skill set, the insurance industry could have a career with your name on it.

In most provinces, a license is only required to work as an agent, broker and independent adjuster. Licenses and these roles are governed by regulators and professional bodies which have a mandate to govern the professional competence, ethical conduct and financial obligations of insurance professionals in their jurisdiction. Actuaries also are required to commence a series of examinations and a registration process in order to work in an actuarial capacity.

Industry employers value a commitment to continuous learning and insurance education – like that obtained through the General Insurance Essentials (GIE) or Chartered Insurance Professional (CIP) designation offered through the Insurance Institute of Canada.

 Licensing, Certifications and Additional Designations

The certification and licensing of insurance professionals (brokers and adjusters specifically) are conducted by provincial government insurance councils whose mandate it is to govern the licensing, professional competence, ethical conduct, and insurance related financial obligations of all insurance professionals in their jurisdiction.

The Registered Insurance Brokers of Ontario (RIBO) regulates the Basic Broker License (RIBO). For the license, the exam and licensing are provided by RIBO. Study materials are available through RIBO and the Insurance Institute of Canada. Candidates have the option to take in-class instruction provided by the Insurance Brokers Association of Ontario (IBAO) or distance learning provided by the Insurance Institute.

The Financial Services Commission of Ontario (FSCO) regulates the Agents Other than Life (OTL) license. To complete the OTL exam, agents must be sponsored by a direct insurance writer (for example: State Farm, The Co-operators, Belair Direct, etc). The Insurance Institute of Canada provides the study material and exams on behalf of the Ontario licensing body. Exams are arranged through the various Insurance Institute of Ontario chapters. Get connected here for a listing of the Insurance Institute of Ontario's chapters.

The Canadian Risk Management (CRM) designation is often recommended for a role in underwriting to develop the ability to implement risk management tools. To qualify for CRM, candidates must complete the following risk management courses: 1) Risk Assessment, 2) Risk Control, and 3) Risk Financing. A certificate of risk management can be earned through various universities throughout Canada and the Insurance Institute of Canada. The Canadian Risk and Insurance Management Society (CRIMS) awards the Canadian Risk Management (CRM) and Fellow Risk Management (FRM) designations for industry professionals. Get connected here for more information.

The Insurance Brokers Association of Canada (IBAC) and its provincial bodies grant several broker designations:
  • The Canadian Accredited Insurance Broker (CAIB) program is a professional development course of study.
  • The Canadian Certified Insurance Broker (CCIB) is recognized in the insurance profession as the standard of excellence for an insurance broker.
  • The Canadian Professional Insurance Broker (CPIB) program is a senior designation program. Positioned at the university study level, this program is designed to challenge the professional excellence of property and casualty insurance brokers. Pre-requisites are the CAIB or CIP designation.
Contact the professional development personnel at your local Insurance Brokers Association for more information (see listings below).

 

Regulators by Province

British Columbia

Insurance Institute of British Columbia
Insurance Council of British Columbia
Insurance Brokers Association of British Columbia
Alberta

Insurance Institute of Northern Alberta (Edmonton)
Insurance Institute of Southern Alberta (Calgary)
Alberta Insurance Council
Insurance Brokers Association of Alberta
Saskatchewan

Insurance Institute of Saskatchewan
Insurance Council of Saskatchewan
Insurance Brokers Association of Saskatchewan
Manitoba
Insurance Institute of Manitoba

Manitoba Insurance Council

Insurance Brokers Association of Manitoba
Ontario

Insurance Institute of Ontario (with chapters throughout Ontario)
Financial Services Commission of Ontario (FSCO)
Registered Insurance Brokers of Ontario (RIBO)
Insurance Brokers Association of Ontario (IBAO)
Quebec

Insurance Institute of Quebec/ L'institut d'Assurance de Dommages du Québec
L'Autorité des marchés financiers
Chambre de l'assurance de dommages (ChAD)
Regroupement des cabinets de courtage d'assurance du Québec
New Brunswick

Insurance Institute of New Brunswick

Government of New Brunswick
Department of Justice Insurance Branch
          
Insurance Brokers Association of New Brunswick
Nova Scotia

Insurance Institute of Nova Scotia
Department of Finance, Government of Nova Scotia
Insurance Brokers Association of Nova Scotia
Prince Edward Island

Insurance Institute of PEI
Department of Provincial Affairs
Insurance Brokers Association of PEI
Newfoundland

Insurance Institute of Newfoundland
Insurance Brokers Association of Newfoundland