The Insurance Council of British Columbia is the governing body that regulates and licenses insurance agents in BC. General insurance licences are obtained through the Insurance Council of BC 604-688-0321.
Getting Your Autoplan License in BC Even if you only want to sell car insurance in BC you have to go through the same General Insurance licensing process as everyone else.
How to become a car insurance agent in bc. Examine Your Background You must be 18 years or older in order to apply for licensure. Agents are responsible for developing strategies to promote different types of insurance for evaluating the needs of a business or individual and proposing insurance plans that meet their criteria and for developing relationships to grow a base of clients. The provincial regulators whose responsibilities include agent licensing are.
In order to qualify for a licence you must have passed one of the approved pre-licensing exams offered exclusively by IBABC. In some situations the car dealership that sold you a car may also offer you optional car insurance however there are some limitations. An insurance agent is a salesperson who sells insurance policies.
In short the answer is not well According to a recent report British Colombians are paying the highest premiums in Canada. The second level license allows you to sell personal and commercial lines policies without supervision. We promise to help you learn everything you need to know.
Completion of the Council Rules and Regulations course. To be an insurance broker in BC you must be licensed. Submit an application for a General Salesperson Level 1 insurance license to the ICBC.
604-688-0321 Toll free within BC. General Insurance Salespersons Licence. Your past can have an effect on whether you can become an insurance agent or not.
To become an auto insurance agent take classes in economics accounting and marketing while youre still in high school. While the specific process for becoming an insurance agent will vary by province the general process is similar across Canada. There is no national insurance regulator.
How BC Auto Insurance Prices Compare to Other Provinces. Complete a General Insurance Agent application provide applicable. You will be then be asked to complete compulsory 15-hour training specified by IRDAI.
For details visit httpswww. New life and health insurance agents must be supervised by a more senior agent for two years. This license will enable you to sell all types of general insurance including home auto business and travel insurance.
To become an insurance agent in BC you need to pass either the Fundamentals of Insurance or CAIB 1 exam to get your Level 1 insurance license. This means taking either the Fundamentals of Insurance exam recommended for new brokers or the Canadian Accredited Insurance Broker CAIB 1 exam. You also need to be a resident of the state where you want to become licensed.
Complete your education at least through the high school level. The first step for you will be to get your level 1 license. As of 2010 the application fee was 250.
To work as an insurance agent salesperson or adjuster in BC you must be licensed by the Insurance Council of BC. People in this career must complete course work and a licensing exam for the type of insurance they will sell. Some states insurance agent license requirements require an associates or bachelors degree in addition to passing the insurance agent exam.
To hold an insurance licence an individual or organization must meet standards of qualification and practice set by the Insurance Council under the Financial Institutions Act. You do this by completing a Fundamentals of Insurance Course or the Canadian Accredited Insurance Brokers 1 course. If you want to know how to become a car insurance agent you must be over 18 years of age should have completed education up to at least Class 10 and have a valid Aadhaar Card and PAN Card.
However some states have different requirements for car insurance agent licenses. Obtain an application for from their website and submit it along with the application fee copy of your exam scores and a criminal background check. An insurance agent or salesperson may also offer you optional insurance related to your car such as collision comprehensive guaranteed asset protection GAP and replacement cost.
After you graduate from high school consider getting a bachelors degree in one of these subjects especially if your state requires a college degree to become a licensed insurance agent. Once the education component of your Level 1 licence is complete the successful candidate is required to have the sponsorship employment of a licensed insurance agency in order to apply for a Level 1 licence from the Insurance Council of BC. Requirements for an individual to obtain a licence to act as a General Insurance Agent under the Insurance Act.
Insurance can be a competitive field and most employers will not be interested in applicants who do not have a high school diploma. The average annual car insurance premium in British Columbia is 1680 nearly 14 higher than the next name on the list Ontario 1445. The third level allows you to be the general manager of an office.
Regardless you wont be allowed to sell insurance of any type until you have an insurance agency license. Box 7 Vancouver British Columbia V6E 4H1 Phone. In order to obtain a licence an applicant must meet the following requirements.
BECOME AN INSURANCE BROKER OBTAIN YOUR LICENCE Level 1.