Financial and Consumer Services Commission
The Financial and Consumer Services Commission administers the Insurance Act through the regulation, oversight and licensing of insurers and insurance intermediaries (adjusters, agents and brokers).
Under the Insurance Act, any person who carries on the business of an insurance agent, broker or adjuster in New Brunswick, whether or not that person is a resident of the province, must have a valid licence. This applies to all insurance business, whether it is done in person, in writing, over the telephone or online.
Any consumer considering purchasing insurance should ensure they are working with a licensed professional. To check licensing for an insurer, search this database. To check licensing for an agent, broker or adjuster, search this database.
The Financial and Consumer Services Commission issues several classes of licences under the Insurance Act:
• Individual licence types available for application include:
• Life Insurance Agent
• Accident and Sickness Insurance Agent
• General Insurance Agent (Level 1, 2, or 3)
• Travel Insurance Agent
• Special Insurance Broker
• Assistant Adjuster
• Senior Adjuster
Firm licence types available for application include:
• Adjusting Firm
• Managing General Agent
• Restricted Insurance Representative
Applicants wishing to obtain an insurance licence under the Insurance Act must submit a completed application through the Financial and Consumer Services Commission’s online portal. More information on the requirements to apply for a licence can be found here.
The Insurance Act ensures oversight of the people and companies that provide insurance products.
The Financial and Consumer Services Commission has compliance staff who work to ensure that insurers and intermediaries are following the provisions in the Insurance Act, Rules and Regulations.