Insurance - Special Insurance Broker Licence
Any person, whether a resident of New Brunswick or not, who carries on the business of an insurance broker for fire or marine insurance on property located in the Province with insurers not authorized to transact such business in the Province must have a valid licence. This applies to all types of selling, whether in person, in writing, or by telephone.
Resident applicants for a special insurance broker licence must hold a current other-than-life agent or broker licence.
Non-resident applicants must hold a current other-than-life broker's licence in their home jurisdiction. A Certificate of Authority from their home jurisdiction confirming that the applicant is licensed and in good standing must accompany the application.
Both resident and non-resident applicants must provide a bond in the sum of not lessa than five thousand dollars ($5,000) to the satisfaction of the Superintendent.
Criminal record checks are done by the New Brunswick insurance regulator on new applicants or applicants who previously held a licence but two years have lapsed since their last held licence.
Non-resident Broker - any suitable person residing outside of New Brunswick to negotiate, continue or renew contracts or insurance other than life insurance or to place risks or effect insurance with an insurer licensed in the Province or its agent.
Unless otherwise specified, Fees exclude the harmonized sales tax (HST).
|Fee Description||Rate in $||Effective Date|
|Fees shall be submitted with an application or a renewal. Licenses expire annually on June 30th, September 30th, December 15th or March 31st depending on the licence effective date. Fees are as follows:|
|Non-Resident Special Insurance Broker Licence||200.00||2009-02-26|
|Transfer of Licence to New Sponsorship||20.00||2006-01-01|
|Certificate of Proof of a Licence||10.00||1984-01-01|
|Copy of a Lost Licence||5.00||1984-01-01|