On February 1, 2023, the Financial and Consumer Services Commission (FCNB) adopted Rule INS-001 Insurance Intermediaries Licensing and Obligations. Among other regulatory requirements, the Rule outlines the new licensing framework for an agency, adjusting firm, and managing general agent licence type.
As such, any person who carries on the business of an insurance intermediary (including agencies, adjusting firms, and managing general agents) in New Brunswick, whether or not that person is a resident of the province, must hold a valid licence with FCNB. Applications must be submitted via the FCNB licensing Portal. Failure to comply may result in enforcement or compliance action.
Please refer to Rule INS-001 Insurance Intermediaries Licensing and Obligations for more information about the requirements.
For any questions about this notice, contact the Insurance Division of FCNB at 866-933-2222 or insurance.licensing@fcnb.ca.