Rule Amendment Consultation

Level 3 Agent and Adjuster Qualifications

Repeal of Rules 2(5), 2(8) 

These proposed rule changes aim to make it more straightforward to hold a level 3 general insurance agent or adjuster licence by basing qualification entirely on education and experience.

Current Status

Voting Council concluded its review of proposed Rule changes in November 2022.  This Rule amendment has been approved by the Minister of Finance, but has not yet been implemented. Information on the effective date of this rule will be published when available.

See more information about the recent rule amendments

Proposed Rule Wording

How to read the proposed wording changes to the Rules:

  • Bolded text represents the addition of proposed wording.

  • Text that has been struck out represents wording proposed for removal.

See the proposed Rule wording (.pdf)

What is the proposed change? 

This change repealing Rules 2(5)(a) and 2(8)(a) would remove the requirement for a level 3 licensee to be in an ownership or management position. 

What is the rationale?

In addition to education and experience, level 3 adjuster and general insurance licences have a requirement that the individual have an ownership or management role to qualify.
Under the current rule, a licensee changing their job or representing multiple agencies would need to hold licences at different levels (levels 2 and 3) based on their role at those agencies if they have a corporate leadership or management role at one agency but not another.
By repealing Rule 2(5) and 2(8), licence qualification for a level 3 adjuster or general insurance licence would be based entirely on education and experience, and not tied to an individual’s status as an officer, partner, director or senior manager. This emphasizes that the defining difference between level 2 and 3 licensure is experience and education, rather than a management role. A licensee who has completed the additional education and number of years of experience to hold a level 3 licence would be able to do so regardless of their role at an agency or firm.
These changes would make it simpler for qualified level 3 licensees to hold a licence and reduce confusion about requirements for different licence levels.

Provide feedback about proposed changes to the Council Rules

Consultation is now closed. Stakeholder consultation on this proposed rule amendment ran March 28 to June 1, 2022.

Back to Rules Consultation Overview