About supervision requirements for salespersons
General insurance level 1 salespersons (salespersons) are required to be supervised by a general insurance agent when conducting insurance activities.
Nominees are responsible for ensuring all activities of the insurance agency – this includes the supervision of licensees operating within the conditions and restrictions of their licences. Nominees and licensees with supervisory duties must fulfill those duties to ensure that supervised licensees carry out the business of insurance competently.
About the location restriction and Rule 6(1)(b)
In March 2020, the Insurance Council requested and obtained the Minister of Finance’s approval of an urgent temporary rule change to suspend the location restriction requiring salespersons to work onsite at their agency. This was done to permit working from home to limit the spread of COVID-19 while enabling continued public access to insurance services. This temporary rule expires in June 2022 and will be replaced with a permanent change to Rule 6(1)(b) that will remove the experience requirement for the location restriction in its entirety.