General insurance salesperson level 1 licence, agent level 2 or level 3 licence, sole-proprietor licence, and trainee registration qualifications and application information for first-time or returning individuals applying for an insurance licence in British Columbia.
Section 168 of the Act defines an insurance agent as: "a person, other than an insurance company or an extraprovincial insurance corporation, who solicits, obtains or takes an application for insurance, or negotiates for or procures insurance, or signs or delivers a policy, or collects or receives a premium."
Section 168 of the Act also defines an insurance salesperson as: "an individual who is employed by an insurance agent or by an insurer to solicit, obtain or take an application for general insurance, or to negotiate for or procure general insurance, or to collect or receive a premium for general insurance."
General Insurance Salesperson Level 1 Licence
Licence requirements, prerequisites and apply for a general insurance salesperson level 1 licence:
A general insurance salesperson level 1 licence is an entry-level licence that:
The licensee must only conduct general insurance business under the supervision of a general insurance agent (see Guidelines for Supervision of General Insurance Level 1 Salesperson for more information);
Restricts where the licensee can work. The licensee must not carry on general insurance business in any place other than on the premises of the insurance agency the licensee is authorized to represent, except where the licensee has completed the Council Rules Course;
Prohibits the licensee from signing contracts of insurance;
Requires the licensee to meet education prerequisites; and
At least 60% of a salesperson licensee’s annual income from his or her employment at an insurance agency, must be comprised of a salary.
General Insurance Agent Level 2 Licence
Licence requirements, education prerequisites and apply for a general insurance agent level 2 licence: