Skip to main content

Other than Life Insurance Agent or Broker

The Office of the Superintendent of Insurance issues licenses to individuals who have met the requirements of the Insurance Act and the Agents and Brokers Regulation, authorizing those individuals to carry on the business of an insurance agent or broker for other-than-life insurance.

The Superintendent of Insurance must be satisfied that the applicant is suitable to receive a licence and intends to carry on business with the public in good faith as an insurance agent or an insurance broker.

All applicants must be sponsored by an insurer who is licensed to conduct the business of other-than-life insurance in New Brunswick and the licence shall expressly limit the authorization of the agent to the class of insurance for which the insurer is licensed.

Licence types

There are six types of resident other-than-life agent and broker licences issued by the Office of the Superintendent of Insurance:

Agent's Licence, Class I

Issued to a resident of the province who is employed by a licensed insurer as a customer service representative and whose primary duty is to accept applications for insurance and renewals of insurance at the person's place of employment.

Agent's Licence, Class II

Issued to a resident of the province 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 other than life insurance for that licensed insurer.

Broker's Licence, Class I

Issued to a resident of the province who is employed by a holder of a broker's license, class IV, as a customer service representative and whose primary duty is to accept applications for insurance and renewals of insurance at the person's place of employment.

Broker's Licence, Class II

Issued to a resident of the province who is employed by a holder of a broker's license, class IV, and who is training for a broker's license, class III. An Insurance Broker, Class II, must qualify for and obtain a Broker's Licence, Class III, within three years.

Broker's License, Class III

Issued to a resident of the province who is employed by a holder of a broker's license, class IV, and who is qualified to underwrite all classes of other than life insurance for more than one licensed insurer.

Broker's License, Class IV

Issued to a resident of the province who is a proprietor or manager of an insurance brokerage business. A person who is applying for a broker's licence, class IV, must meet educational requirements and have held a broker's licence, class III, for at least two years before applying for the licence.

Course providers and examinations

For information on the Fundamentals of Insurance course and the Canadian Accredited Insurance Broker Program and examinations, visit the New Brunswick Brokers Association. (www.nbinsurancebrokers.ca.)

For information on the Insurance Institute of Canada courses and examinations, please visit their website. (www.insuranceinstitute.ca)

Non-resident other-than-life agent or broker

An Other-Than-Life Broker Licence may be issued to an applicant who is not a resident of New Brunswick.

Requirements and qualifications

The applicant must provide a Certificate of Authority or Certificate of Status from their home jurisdiction that certifies the applicant is currently licensed to carry on the business of such a broker in that jurisdiction and that the broker is in good standing. This Certificate must be an original and no older than 60 days.