C81 General Insurance Essentials—Part 1 • introducing the insurance business • insurance intermediaries • the insurance company--the insurer

January 30, 2018 | Author: Anonymous | Category: N/A
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Insurance Licensing British Columbia Includes: - General Insurance Licensing options for both Broker/Agents and Adjusters (Level 1) - Broker/Agent Licensing requirements (Levels 2 and 3) - Adjuster Licensing requirements (Levels 2 and 3) - Industry contacts - Level 1 home study kit order form

Contact the Insurance Institute of British Columbia Phone: 604-681-5491 Email: [email protected] Visit: www.insuranceinstitute.ca/BritishColumbia

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Level 1: General Insurance Licensing For both Broker/Agents and Adjusters Please note - this licensing program offers the education required by the Insurance Council of BC to obtain BOTH: • Level 1 Broker/Agent Licence and • Level 1 Adjuster Licence. Your Level 1 education will introduce you to the insurance business, insurance intermediaries, the insurance company, basic documents, insurance practices and automobile insurance. It also covers, at an introductory level, law and insurance, insurance contracts, insurance organizations, fire insurance, the homeowner’s policy, personal lines policies, liability insurance, commercial insurance coverage, reinsurance, risk management and loss prevention. Requirement for licence: Once the education component of your Level 1 licence is completed, the successful candidate is required to have the sponsorship (employment) of a licensed insurance agency or licensed adjusting firm in order to obtain a Level 1 licence from the Insurance Council of BC.

There are four options for you to achieve your Level 1 licensing education: Education option: 1.

General Insurance Essentials (GIE) Education

Chartered Insurance Professional (CIP) Education

One local BC-based course and exam

Home study with the Insurance Institute of BC

2. In-class learning with college partners

Two national GIE courses and exams

3. Distance learning with the Insurance Institute of Canada

Two national CIP courses and exams

4. Distance, in-class or virtual learning with the Insurance Institute

Insurance Institute of British Columbia 1110-800 West Pender Street, Vancouver, BC V6C 2V6 Phone: 604-681-5491 Fax: 604-681-5479 Email: [email protected] www.insuranceinstitute.ca/BritishColumbia

Level 1 Licensing Education Options: General Insurance Essentials (GIE) Route BC course and exam

General Insurance Essentials (GIE) Education

Chartered Insurance Professional (CIP) Education

1.

Home study with the Insurance Institute of BC

2.

In-class learning with college partners

Two national GIE courses and exams

3.

Distance learning with the Insurance Institute of Canada

Two national CIP courses and exams

4.

Distance, in-class or virtual learning with the Insurance Institute

One local course and exam

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This local program is available via home study and in-class as detailed below. This option is recommended for newcomers to the industry who have not yet made a definite career commitment. It is also for those employed in insurer, agency, broker, or adjuster offices in junior or support positions who want an overview of the insurance industry but with some detail about actual coverages and related claims routines. This program should also be considered by those who have been away from the education process for some time and are looking for an entry-level program to start their insurance education. Once you have successfully completed the course, you will be eligible to apply to the Insurance Institute of Canada to receive a credit for the CIP course, C11: Principles and Practice of Insurance. The cost for this credit is $94.00 plus GST. TOPICS COVERED: C81 General Insurance Essentials—Part 1 • • • •

introducing the insurance business insurance intermediaries the insurance company--the insurer basic documents, common clauses, insurance practices

• • •

automobile insurance--the application the automobile policy--third-party liability, automobile accident benefits, loss of or damage to the insured automobile government automobile insurance plans

C82 General Insurance Essentials—Part 2 • • • • •

insurance contracts government control; insurance organizations and associations fire insurance; the homeowner’s policy other personal lines policies liability insurance

• • • •

commercial coverages--property, business interruption, crime, surety, claims, and loss adjustments reinsurance risk management loss prevention

EXAMINATIONS: Examinations for this local option are through the Insurance Institute of BC. Licensing exams are two (2) hours in duration and consist of 100 multiple-choice questions. 70% is required to pass. Licensing exams for the lower mainland are held most Monday mornings at the Institute from 9:30 am to 11:30 am. Exams outside the lower mainland are set up on an individual basis in your area. Please notify the Insurance Institute of BC at least two (2) weeks prior to your preferred exam date. Insurance Institute of British Columbia 1110-800 West Pender Street, Vancouver, BC V6C 2V6 Phone: 604-681-5491 Fax: 604-681-5479 Email: [email protected] www.insuranceinstitute.ca/BritishColumbia

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From the day you register, you have one year to write a successful exam. EXAM REVIEWS: If you are unsuccessful when rewriting your exam, you may request a review. You will be notified of areas that you scored less than a passing grade (70%) in. The marking/calculation will also be double checked to ensure accuracy. Exams will not be returned under any circumstance.

Level 1 Licensing Education Options: General Insurance Essentials (GIE) Route BC course and exam

General Insurance Essentials (GIE) Education

Chartered Insurance Professional (CIP) Education

1.

Home study with the Insurance Institute of BC

2.

In-class learning with college partners

Two national GIE courses and exams

3.

Distance learning with the Insurance Institute of Canada

Two national CIP courses and exams

4.

Distance, in-class or virtual learning with the Insurance Institute

One local course and exam

Option 1: Home study program with the Insurance Institute of British Columbia Best route to take if you: • Are looking to complete the licensing program in the least amount of time • Prefer to study at home, at your own pace (you have up to one year to complete the program) • Would like a flexible exam date The home study program includes the following: • Course texts (C81: General Insurance Essentials—Part 1, and C82: General Insurance Essentials—Part 2) • Online tutorial o Included in each package to complement the textbooks for GIE - C81 & C82. The tutorial provides additional explanations of the course material in an interactive fashion and also provides study tips, practice questions with immediate feedback, and timed questions. • Membership with the Insurance Institute of BC • Administration and examination fees This option is offered locally through the Insurance Institute of BC, with all materials mailed out from the local office within two weeks. The exam is also taken at our local office; sessions are held most Monday mornings, and you receive your marks back in approximately one week. FEE SCHEDULE (includes GST): Home Study Kit (order form on last page) Examinations: First time Rewrites Exam deferral requests/missed exam Exam review Certificate reprint Exam Fee:

$524.00 (Includes online tutorial applicable to both C81 and C82) included (first time for college students must be in-class, or rewrite fee will be charged) $70.00 $25.00 (first time is free) $25.00 (first time is free) $20.00 $100.00 (applied when program period has expired or exam results have lapsed)

Insurance Institute of British Columbia 1110-800 West Pender Street, Vancouver, BC V6C 2V6 Phone: 604-681-5491 Fax: 604-681-5479 Email: [email protected] www.insuranceinstitute.ca/BritishColumbia

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Level 1 Licensing Education Options: General Insurance Essentials (GIE) Route BC course and exam

General Insurance Essentials (GIE) Education

Chartered Insurance Professional (CIP) Education

1.

Home study with the Insurance Institute of BC

2.

In-class learning with college partners

Two national GIE courses and exams

3.

Distance learning with the Insurance Institute of Canada

Two national CIP courses and exams

4.

Distance, in-class or virtual learning with the Insurance Institute

One local course and exam

Option 2: In-class program with College partners Best route to take if you: • Prefer to study in an in-class program • Are new to the industry and would benefit from the knowledge of an instructor The local GIE route to licensing is available in-class by registering directly with one of the following colleges, who offer the program in conjunction with the Insurance Institute of BC. Fees vary by college; please visit each website for more information. •

Douglas College (New West) www.douglas.bc.ca | Phone: 604-527-5472 o 7 Saturdays (9am – 4pm). Usually offered in the Fall, Winter and Spring semesters.



Langara College (Vancouver) www.langara.bc.ca | Phone: 604-323-5971 o 7 weeks, 2 nights per week. Usually offered in the Fall, Winter and Spring semesters.



Camosun College (Victoria) camosun.ca | Phone: 250-370-3550 o 13 weeks, 1 night per week. Usually offered in the Fall semester.



Vancouver Island University (Nanaimo) viu.ca | Phone: 888-920-2221 ext 6580 o 13 weeks, 1 night per week. Usually offered in the Fall semester.

• •

Students write the IIBC licensing examination in the final class. Please see above for details. Successful graduates receive a certificate from the Insurance Institute of BC

FEE SCHEDULE (includes GST): Course and materials Examinations: First time Rewrites Exam review

Please see prices as listed on your chosen college’s website included (first time for college students must be in-class, or rewrite fee will be charged) $70.00 $25.00 (first time is free)

Insurance Institute of British Columbia 1110-800 West Pender Street, Vancouver, BC V6C 2V6 Phone: 604-681-5491 Fax: 604-681-5479 Email: [email protected] www.insuranceinstitute.ca/BritishColumbia

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Level 1 Licensing Education Options: General Insurance Essentials (GIE) Route Two national GIE courses and exams

General Insurance Essentials (GIE) Education

Chartered Insurance Professional (CIP) Education

1.

Home study with the Insurance Institute of BC

2.

In-class learning with college partners

Two national GIE courses and exams

3.

Distance learning with the Insurance Institute of Canada

Two national CIP courses and exams

4.

Distance, in-class or virtual learning with the Insurance Institute

One local course and exam

Option 3: Distance learning with the Insurance Institute of Canada Best route to take if you: • Prefer to study through distance education • Have more time to complete your licensing education • Want to complete a national certificate program (GIE) as well as your licensing education This route requires you to complete two courses, and receive a 60% passing grade on two (2) national exams from the Insurance Institute of Canada’s national GIE certificate program, which is available via distance learning: • C81: General Insurance Essentials—Part 1 • C82: General Insurance Essentials—Part 2 o More information, learning options and fees: www.insuranceinstitute.ca/gie • Students will need to sit for and pass a national examination for each course • Exams operate on a set schedule with exam sessions in December, April and July each year

Insurance Institute of British Columbia 1110-800 West Pender Street, Vancouver, BC V6C 2V6 Phone: 604-681-5491 Fax: 604-681-5479 Email: [email protected] www.insuranceinstitute.ca/BritishColumbia

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Level 1 Licensing Education Options: General Insurance Essentials (GIE) Route Two national CIP courses and exams

General Insurance Essentials Education

Chartered Insurance Professional Education

1.

Home study with the Insurance Institute of BC

2.

In-class learning with college partners

Two national GIE courses and exams

3.

Distance learning with the Insurance Institute of Canada

Two national CIP courses and exams

4.

Distance, in-class or virtual learning with the Insurance Institute

One local course and exam

Option 4: Distance, in-class or virtual learning through the Insurance Institute Best route to take if you: • Have a little more time to complete your Level 1 licensing • Want to achieve your CIP designation This route requires you to complete two courses from the Insurance Institute of Canada’s CIP designation program: For Brokers • C11: Principles and Practice of Insurance • C130: Essential Skills for the Insurance Broker and Agent o More information, learning options and fees: www.insuranceinstitute.ca/cip • Students will need to sit for and pass a national examination for each course • If students wish to complete their CIP designation in the future, they only need to complete eight (8) more courses to meet the program’s ten (10) course requirement For Adjusters • C11: Principles and Practice of Insurance • C110: Essential of Loss Adjusting o More information, learning options and fees: www.insuranceinstitute.ca/cip • Students will need to sit for and pass a national examination for each course • If students wish to complete their CIP designation in the future, they only need to complete eight (8) more courses to meet the program’s ten (10) course requirement CIP exams operate on a set schedule with exam sessions in December, April and July

Insurance Institute of British Columbia 1110-800 West Pender Street, Vancouver, BC V6C 2V6 Phone: 604-681-5491 Fax: 604-681-5479 Email: [email protected] www.insuranceinstitute.ca/BritishColumbia

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Broker/Agent Licensing British Columbia If you are looking to become a licensed general insurance broker or agent in British Columbia, the following licensing education options are available to you.

Level 1 General Insurance Licensing Please refer to the information on Level 1 Licensing, which applies to both Brokers/Agents and Adjusters.

Level 2 Broker/Agent Licensing To obtain your General Insurance Broker/Agent Level 2 Licence, you first need to complete your Level 1 General Insurance Agent licence. Then, you need to complete: • •

C130: Essential Skills for the Insurance Broker and Agent, from the CIP program. Please note, if you took this course as part of your requirements for Level 1 licensing, you need not take it again. C131: Advanced Skills for the Insurance Broker and Agent, from the CIP program o More information, learning options and fees: www.insuranceinstitute.ca/cip

Level 3 Broker/Agent Licensing To obtain your General Insurance Broker/Agent Level 3 Licence, you first need to complete your Level 1 and Level 2 licences as detailed above. Then, you need to have: • • •

C132: Practical Issues in Broker Management, from the CIP program o More information, learning options and fees: www.insuranceinstitute.ca/cip Level 3 seminar, available for registration through the Insurance Brokers Association of BC: www.ibabc.org Been licensed for five (5) of the last seven (7) years, with a minimum of three (3) years as a Level 2 General Insurance Agent.

Insurance Institute of British Columbia 1110-800 West Pender Street, Vancouver, BC V6C 2V6 Phone: 604-681-5491 Fax: 604-681-5479 Email: [email protected] www.insuranceinstitute.ca/BritishColumbia

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Adjuster Licensing British Columbia If you are looking to become a licensed adjuster in British Columbia, the following licensing education options are available to you.

Level 1 General Insurance Licensing Please refer to the information on Level 1 Licensing, which applies to both Adjusters and Brokers/Agents.

Level 2 Adjuster Licensing To obtain your Level 2 Adjuster Licence, you first need to complete your Level 1 General Insurance Agent licence. Then, you have four options to complete your Level 2. Please note, if you took any of the courses listed below as part of your requirements for Level 1 licensing, you need not take them again. Option 1 – build on the GIE route you took to achieve your Level 1 licence: • • •

C110: Essentials of Loss Adjusting, from the CIP program C111: Advanced Loss Adjusting, from the CIP program o More information, learning options and fees: www.insuranceinstitute.ca/cip Two consecutive years’ experience as a licensed Level 1 adjuster

Option 2 – build on the CIP courses (C11 & C110) route you took to achieve your Level 1 licence: • •

C111: Advanced Loss Adjusting, from the CIP program o More information, learning options and fees: www.insuranceinstitute.ca/cip Two consecutive years’ experience as a licensed Level 1 adjuster

Option 3 – use your previous experience as a staff adjuster to become a licensed adjuster: • • • • •

C110: Essentials of Loss Adjusting, from the CIP program C111: Advanced Loss Adjusting, from the CIP program C112: Practical Issues in Claims Management, from the CIP program Any other four (4) Insurance Institute courses o More information, learning options and fees: www.insuranceinstitute.ca/cip Two consecutive years’ adjusting experience (note: with the additional education, the Council will consider adjusting experience in a capacity that did not require a licence; for example, as a staff adjuster)

Option 4 – best if you have, or are close to achieving your CIP designation: • •

CIP designation (all 10 courses) o More information, learning options and fees: www.insuranceinstitute.ca/cip One year adjusting experience Insurance Institute of British Columbia 1110-800 West Pender Street, Vancouver, BC V6C 2V6 Phone: 604-681-5491 Fax: 604-681-5479 Email: [email protected] www.insuranceinstitute.ca/BritishColumbia

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Level 3 Adjuster Licensing To obtain your Level 3 Adjuster Licence, you first need to complete your Level 1 and Level 2 licences as detailed above. Then, you need to have: • •

Completed all courses leading to a CIP or FCIP designation o More information, learning options and fees: www.insuranceinstitute.ca/cip or www.insuranceinstitute.ca/fcip Been licensed as an adjuster for five (5) of the preceding seven (7) years, with at least three (3) of those years as a licensed Level 2 adjuster.

Insurance Industry Contacts Insurance Council of BC 300 - 1040 West Georgia St. P.O. Box 7 Vancouver, BC V6E 4H1 Telephone: 604-688-0321 Toll-free within BC: 1-877-688-0321 www.insurancecouncilofbc.com



All licensing information

Insurance Institute of BC 1110 - 800 West Pender St Vancouver, BC V6C 2V6 Telephone: 604-681-5491 Toll-free within BC: 1-888-681-5491 Facsimile: 604-681-5479 [email protected]

• •

Level 1 General Insurance Licensing Program CIP (Chartered Insurance Professional) Program. The CIP courses also qualify for Broker/Agent & Adjuster Licensing (Level 1, 2 & 3) FCIP (Fellow, Chartered Insurance Professional) Program LLQP (visit www.insuranceinstitute.ca)

Insurance Brokers Association of BC 1300 - 1095 West Pender St Vancouver, BC V6E 2M6 Telephone: 604-606-8000 Facsimile: 604-683-8497 www.ibabc.org

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Career Connections www.career-connections.info

ICBC Telephone: 604-982-6314

Fundamentals of Insurance – Level 1 CAIB program (qualify for Broker/Agent Licensing – Level 1, 2 & 3) Level 3 seminar CCIB program CPIB program

• •

Take the insurance career quiz and find out how your education, interests and experience may add up to a great career in insurance. www.career-connections.info/quiz Visit the job site to see current industry jobs and upload your resume Information on the Insurance Industry Careers in the Insurance Industry



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Insurance Institute of British Columbia 1110-800 West Pender Street, Vancouver, BC V6C 2V6 Phone: 604-681-5491 Fax: 604-681-5479 Email: [email protected] www.insuranceinstitute.ca/BritishColumbia

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Level 1: General Insurance Agent Licensing For Broker/Agents and Adjusters Home Study Kit

Cancellation policy:

ORDER FORM

CANCELLATIONS FOR BC LEVEL 1 GENERAL INSURANCE LICENSING KIT PURCHASES WILL NOT BE ACCEPTED

Your details Name

Date of Birth (DD/MM/YY)

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Address Line 1 Address Line 2 City

Province

Phone Number

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)

Postal Code

Fax number

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)

E-mail Company (if applicable) How did you find out about General Insurance Licensing? How did you find out about the Insurance Institute of BC? Area of interest:



Broker



Adjuster



Other

Course Fees (tax included GST #12751 7258RT)

 $524.00 – Non-Member of the Insurance Institute of BC (includes membership!)  $449.00 – Member of Insurance Institute of BC Member #: Method of Payment

 Debit (available in person only)  Cheque enclosed (please note: materials will not be shipped until personal cheques have cleared)  Credit card:  Visa  MasterCard  Amex Name on card

Signature

Card number

Expiry date:

REGISTER

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Please mail, courier or fax to the Insurance Institute of BC - details listed below. Course material will be mailed to the address provided above. Please allow 1-2 weeks for delivery after payment has been processed. Insurance Institute of British Columbia 1110-800 West Pender Street, Vancouver, BC V6C 2V6 Phone: 604-681-5491 Fax: 604-681-5479 Email: [email protected] www.insuranceinstitute.ca/BritishColumbia

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