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).