Commonly Asked Questions
Is the insurance industry stable?
Everyone needs insurance, and because of this the industry is one of the most resilient. In fact, many of our member brokerages have employees who have worked their entire lives in the industry.
What is the difference between an insurance broker and an insurer?
An insurance broker works for the consumer, to find them the best product to fit their specific needs. The insurer provides the insurance coverage. The brokers’ job is to choose an insurer that best meets the consumers needs, and negotiates on behalf of the consumer.
What career opportunities are there at an insurance brokerage?
Working as an insurance broker provides multiple career path options with something to fit every personality type. There are entry level customer services representatives who primarily deal with basic transactions and auto policies. Personal lines brokers who deal with residential homes, recreational property or vehicles and specialized collections such as memorabilia. There are Commercial lines brokers who handle commercial properties and liability as well as Producers who focus on generating new business. Brokerages also have various management and supervisory positions and in larger firms there is also the chance to specialize in areas like cyber coverage.
What does an insurance broker actually do?
Insurance brokers are like other advisors or consultants - they provide advise to help their clients get the insurance coverage they need. Brokers are continually upgrading their skills to match changes in the marketplace and therefore take part in different kinds of training. It's not uncommon for a broker to speak with 5-15 insurance company representatives in the run of a day or attend various networking events outside the office. Insurance is a very social industry and no two days are the same; you could be handling a simple insurance renewal or discussing specialty insurance for antique cars or pleasure craft. The insurance industry relies on building and nurturing relationships. For more information please see our "Is a Career in Insurance Right for You" Brochure.
How do I obtain an insurance license?
To obtain a license, you must be sponsored by an insurance company. This means, you must be working in a brokerage in order to be sponsored. You can complete the education necessary to obtain this license without working in the industry, however in order to obtain the actual license, you must be working for a brokerage.
What is the highest level of license in Nova Scotia?
The highest level of license for property and casualty insurance is a level 3 license.
What are my first steps on the career path to becoming an insurance broker?
You can begin applying for positions in brokerages without having any type of insurance education; however, it is beneficial to begin the steps to obtain a level 1 license prior to employment. To obtain a level 1 license, you can begin with either the Fundamentals of Insurance, or Module 1 of the Canadian Accredited Insurance Broker (CAIB) program.
For more information on our courses, please see our course list, or contact our Professional Development Coordinator, .