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Career Centre

For Students and Licensees

For Employers

A career as an insurance broker offers stability, professional credibility, flexibility, opportunities for advancement and variety.

 

BECOME AN INSURANCE BROKER

 

OBTAIN YOUR LICENCE

Level 1: General Insurance Salesperson's Licence

 

ADVANCE YOUR LICENCE

Level 2: General Insurance Agent's Licence
Level 3: General Insurance Agent's Licence

 

MAINTAIN YOUR LICENCE

Moving to B.C.?
Carrying credits forward

 

FIND A JOB

 

POST A RESUME

 

LEARNING TOOLS

IBABC member brokerages have access to employee recruitment, retention and training resources that give them a competitive edge.

 

POST A JOB

 

REVIEW RESUMES

 

COMPENSATION DATA

 

HIRING RESOURCES

 

FOR STUDENTS AND LICENSEES

A career as an insurance broker offers stability, professional credibility, flexibility, opportunities for advancement and variety.

BECOME AN INSURANCE BROKER

OBTAIN YOUR LICENCE

Level 1: General Insurance Salesperson's Licence

To be an insurance broker in B.C., you must be licensed. General insurance licences are obtained through the Insurance Council of B.C., 604-688-0321. In order to qualify for a licence, you must have passed one of the approved pre-licensing exams offered exclusively by IBABC.

The courses that prepare you for these exams are the Fundamentals of Insurance or the Canadian Accredited Insurance Broker (CAIB) 1. The IBABC administers both of these courses as well as the exams.

You do not need to be employed in the industry to take pre-licensing courses; however, licences will only be granted to those individuals who are employed by an insurance brokerage. In most cases, employers file license applications on behalf of new employees.

When reviewing new applications, the Council will verify that the applicants' educational and experience requirements have been met and will review all applicants for suitability.
Once licensed, if you leave or lose your job, your licence will be deactivated, but you will retain your licensable status for a period of one to three years (depending on the level of license you had and how you qualified for it).

There are two ways to fulfill the educational requirements for Level 1 (entry level) licensing. Please see below for your options.

A Level 1 license qualifies you to work in any of several positions in an insurance brokerage: handling auto, home and other personal lines transactions, or as a mobile road agent (visiting car dealerships to insure newly purchased vehicles). Level 1 salespeople operate under the supervision of a Level 2 or 3 broker.

The knowledge prerequisites for a Level 1 license require candidates to:

  1. Pass Fundamentals of Insurance exam, or
  2. Pass the CAIB 1 exam

Two routes to licensing: Which to choose?

ADVANCE YOUR LICENCE

Level 2: General Insurance Agent's Licence

For positions such as commercial lines representatives or personal lines supervisors, a Level 2 license is needed. A Level 2 license allows you to complete policies outside of the office and without the supervision of a more senior broker. A Level 2 license also gives you the opportunity to supervise Level 1 brokers in the office.

Level 1 licensees wishing to advance to a Level 2 license must pass the CAIB 2 and CAIB 3 exams.

Level 3: General Insurance Agent's Licence

A Level 3 license allows you to manage a brokerage.

To obtain a Level 3 licence, along with having met the educational requirements for a Level 2 licence, you must:

  • Pass the CAIB 4 exam, and
  • Have held a general insurance licence for five of the last seven years, with at least three of those years as a Level 2 license

Completion of all four CAIB exams (CAIB 1, 2, 3 and 4) earns you your CAIB designation - the mark of professional recognition for clients and employers.

Other designation programs are also available through IBABC for completion, including the Canadian Professional Insurance Broker program (CPIB) and the Canadian Certified Insurance Broker program (CCIB). The CPIB allows you to apply credits from some post-secondary courses towards completion of the program.

Please see Frequently Asked Questions regarding licensing/designation courses.

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MAINTAIN YOUR LICENCE

All licenses issued by the Insurance Council of B.C. are continuous; they no longer expire, but licensees are required to file by June 1 each year to demonstrate that they have met licensing requirements. Licensees are still required to transfer licenses between employers and to amend licenses.

The Insurance Council of B.C. guidelines* for continuing education (CE), implemented as of June 1, 2021, requires that all brokers must complete eight (8) CE credits annually regardless of number of years licensed or additional professional designations.

Other changes include:

  • CE credits for a course can now be used once towards your CE requirements every three licence periods – versus the previous five licence periods – unless the course content has substantially changed to warrant retaking the course.
  • You can also now carry over up to one year’s worth of CE credits to the next licence period, and there is no maximum amount of course credits that can be claimed, and no daily credit maximum.
  • The Council is also allowing you to claim partial credits in increments of 15 minutes for courses that are less than an hour in length. A minimum of 15 minutes of instruction time amounts to 0.25 credits; 30 minutes is 0.5 credits; and 45 minutes of instruction equals 0.75 credits.
  • For courses that fall outside the 15-minute increments, credit amount is rounded down to the nearest 15-minute increment. For example, if a course is 40 minutes, it would count for 0.50 credits. Partial credits for courses more than hour in length continue to be accepted in 15-minute increments as well. For example, a course that is an hour and a half qualifies for 1.5 credits.
  • The Insurance Council does not require licensees to submit their CE credit certificates at the time of renewal filing. You are, however, required to keep a record of your continuing education for five years.

*Guidelines subject to change. Please refer to the Insurance Council CE Guideline page.

Moving to B.C.?

Pre-licensing and licensing courses, including the Fundamentals of Insurance and the Canadian Accredited Insurance Broker (CAIB) program, are largely standard across Canada, with some regional content added to reflect differences in provincial regulations and insurance products. Brokers with an active license from another Canadian province are usually able to transfer their license as long as they have found employment at a brokerage in B.C. For more information, contact the Insurance Council of B.C.

Carrying credits forward

Continuing Education (CE) credits can no longer be carried forward from one licensing period to the next. Please see the Insurance Council of B.C. website for further details.

Have questions or comments about IBABC Continuing Education? Contact Ileana Toledo ().

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FOR EMPLOYERS

IBABC member brokerages have access to employee recruitment, retention and training resources that give them a competitive edge.

 Post a Job

 Review Résumés

COMPENSATION DATA 

A Compensation Survey, with important compensation data for 18 typical brokerage positions, updated to 2021 by Western Compensation & Benefits Consultants, is available from IBABC. Click for order form. 

HIRING RESOURCES

These suppliers provide products and services that meet the specific needs of the P&C insurance brokerage industry:

Pre-hire profile assessments specific to insurance brokerage job positions are available from Omnia Group and Dynamic Leadership Inc. Sean Neumayer, Omnia Group, 1-800-525-7117

Pre-employment background checks are available from BackCheck. These include police clearances, resume verification, and reference-checking. Ron Shay, BackCheck, 604-613-4198, 1-877-613-4111

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