Insurance - Resident Other-Than-Life Agents and Brokers Licence
Financial and Consumer Services Commission
Overview
Any person who is a resident of New Brunswick and who carries on the business of an insurance agent or broker for any class of insurance other than life insurance must have a valid license. This applies to all types of selling, whether in person, in writing, or by telephone.
Eligibility
Resident agent/broker applicants must meet requirements and qualifications as outlined in the Agents and Brokers Regulation - Insurance Act (Regulation #95-5).
Criminal record checks are by done by the New Brunswick insurance regulator on new applicants or applicants who previously held a license but two years have lapsed since their last held licence.
Description
- Agent's License, Class I - a person who is employed by a licensed insurer as a customer service representative whose primary duty is to accept applications for insurance and renewals at the person's place of employment.
- Agent's License, Class II - a person who is employed by or is under a contract for the exclusive representation of one licensed insurer and who is qualified to underwrite all classes of insurance, other than life insurance, for that licensed insurer.
- Broker's License, Class I - a person who is employed, by a holder of a broker's license class IV, as a customer service representative whose primary duty is to accept applications for insurance and renewals at the person's place of employment.
- Broker's License, Class II - a person who is employed, by a holder of a broker's license class IV, and who is training for a broker's license, class III.
- Broker's License, Class III - a person who is employed, by a holder of a broker's license class IV, and who is qualified to underwrite all classes of insurance, other than life insurance, for more than one licensed insurer.
- Broker's License, Class IV - a person who is a proprietor or manager of an insurance brokerage business
Fees
Unless otherwise specified, Fees exclude the harmonized sales tax (HST).
| Fee Description | Rate in $ | Effective Date YYYY-MM-DD | |
|---|---|---|---|
| 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: | |||
| Agents Licence | 50.00 | 1988-01-01 | |
| Brokers Licence | 50.00 | 1988-01-01 | |
| 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 | |
| Contact Information | Location |
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