Canadian Accredited Insurance Broker (CAIB)
The CAIB Program is a national designation designed, written, and delivered by brokers, for brokers. It provides brokers with the means to expand their general insurance knowledge develop new sales markets and enhance their opportunities for career advancement.
Knowledge and skills learned throughout the program are immediately transferable to the brokerage. There are 4 modules that make up the CAIB program. Students must complete all 4 modules, and be working for a member brokerage in order to use the designation.
CAIB 1
Topics include:
- Introduction to General Insurance
- Personal Liability
- Basics of Personal Automobile
- Home/Tenant Insurance
- Farm Insurance
- Regulation, Licensing, Errors and Omissions
- Accident and Sickness
Method of Study: self study, immersion course, evening classes – please check the website for immersion and evening class dates.
Cost: IBANS Members: $525+HST, Non-Members: $800+HST (Self Study only)
What’s included: textbook, study guide, resource guide, practice exam, exam fee (Note: Students have the option of purchasing an online tutorial with their registration for CAIB 1)
License level: Once successfully completed, students may apply for a General or Level 1 license
CAIB 2
Topics include:
- Introduction to Commercial Property Insurance
- Commercial Policy Forms
- Underwriting Commercial Property
- Miscellaneous Property Forms
- Crime/Business Interruption
Method of Study: self study, immersion course, evening classes – please check the website for immersion and evening class dates.
Cost: IBANS Members: $525+HST, Non-Members: $800+HST (Self Study only)
What’s included: textbook, study guide, resource guide, practice exam, exam fee (Note: Students have the option of purchasing an online tutorial with their registration for CAIB 2)
License level: No license change once completed
CAIB 3
Topics include:
- Commercial General Liability
- Ocean Marine and Aviation
- Risk Management
- Commercial Automobile
Method of Study: self study, immersion course, evening classes – please check the website for immersion and evening class dates.
Cost: IBANS Members: $525+HST, Non-Members: $800+HST (Self Study only)
What’s included: textbook, study guide, resource guide, practice exam, exam fee (Note: Students have the option of purchasing an online tutorial with their registration for CAIB 3)
License level: Once CAIB 1 (or Fundamentals of Insurance) CAIB 2, and CAIB 3 are completed, students may apply for a Level 2 license
CAIB 4
Topics include:
- Planning
- Organizing
- Human Resources
- Leading
- Broker –Insurance Company Relations
- Marketing
- Building Long-Term Relationships
- Technology
- Financial Management
- Monitoring
Method of Study: self study, immersion course, evening classes – please check the website for immersion and evening class dates.
Cost: IBANS Members: $525+HST, Non-Members: $800+HST (Self Study only)
What’s included: textbook, study guide, resource guide, exam fee (Note: Students have the option of purchasing an online tutorial with their registration for CAIB 4)
License level: - Once CAIB 1 (or Fundamentals of Insurance) CAIB 2, CAIB 3, and CAIB 4 are completed, students may apply for a Level 3 license. In order to use the CAIB designation, all 4 CAIB modules must be completed and students must work for a brokerage that is a member in good standing of IBANS.
IBAC PROFESSIONAL DEVELOPMENT DESIGNATIONS
TERMS OF REFERENCE
AMENDED SEPTEMBER 20, 2001
- The right to obtain an IBAC designation will be restricted to successful candidates who are employed by a property and casualty insurance brokerage and are members in good standing, as at the time of the granting of such IBAC designation, of a member association which is and continues to be a member of IBAC.
- At the sole discretion of IBAC and member associations, non-members and /or non-brokers shall be allowed to complete any program offered by IBAC, and upon successful completion, such non-members and /or non-brokers will be entitled only to Certificate of Completion.
- The right to use and maintain any IBAC designation granted by IBAC shall only continue while such person is employed by a property or casualty insurance brokerage, acceptable to the IBAC Board of Directors, while that brokerage continues to be a member in good standing of a member association which itself is a member in good standing of IBAC.
- A licensed property and casualty insurance broker, having earned a Certificate of Completion or an IBAC designation, who is an employee (not a principal) of a property and casualty insurance brokerage that is not a member of a member association of IBAC, will be allowed obtain membership or associate membership with the appropriate member association of IBAC, failing which that person’s right to use such IBAC designation will be terminated.
- The granting of member and/or associate member status is at the discretion of the member association and shall be in accordance with, and subject to, the applicable member association’s by-laws, rules, regulations and guidelines.
- The administration of membership and associate membership is the responsibility of the applicable member association.
- All candidates must be granted permission to use IBAC designations through specific election by the IBAC Board of Directors.
- Employees of IBAC or its Member Associations, who have successfully completed the prescribed examination requirements, may hold an IBAC designation as long as they remain so employed.
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