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.
If the individual selling the insurance is the agent of the party buying the insurance, then that person is called a broker.
If the person selling the insurance is the agent of the insurance company providing the coverage, then that person is called and insurance agent.
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.
The highest level of license for property and causality insurance is a level 3 license
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.
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