Mar 21, 2019 | News
Did you know that the insurance councils of Alberta will audit licensees who complete their CE at, or near, the end of the renewal deadline?
So, If you leave your continuing education completion to the last minute, you’re likely to be audited.
When do you need your CE credits by?
Life and Accident & Sickness insurance agents, General insurance agents and Adjusters in Alberta are required to complete in each certificate term at least 15 hours of approved continuing education courses. A “certificate term” means the period beginning on July 1 and ending on the next June 30.
To sum it up, if you’re completing your CE requirements in the last 2 weeks of June, expect a call from council.
I don’t want to risk being audited! Where can I get CE now?
ILScorp has hundreds of provincially accredited online continuing education courses, a majority of which are approved in Alberta. The courses are completed entirely online, with CE certificates available to you immediately upon successful completion. Register now, and have access to your courses instantly.
View CE Course Subscriptions
I’m being audited! How do I get my CE certificates?
If you become part of an audit, you will be required to produce your CE Certificates of completion. ILScorp keeps your completed course history on file for up to 7 years in case of audit. Simply login to your ILScorp profile, and under your completed course history you’ll see all the course you’ve completed and the ability to view and print the CE certificate
How do I know that I have satisfied my CE requirement?
You must log in to the Alberta Insurance Council (AIC) and check your CE Summary Report. You are required to have completed 15 CE hours of approved courses each year in order to process the renewal of your license, and it is up to you enter your completed course ID numbers onto your council profile.
How do I determine if a course is accredited?
ILScorp courses are provincially accredited and all courses which have been approved by the Alberta Accreditation number will display an AIC number and the Alberta Flag.
Like this in the ILScorp Catalog:
Credit Hours: 2
Credit Type: General/Adjuster – Technical
Credit #: AIC#41982
Accrediting Provinces:
Or like this in your ILScorp e-Learning Campus
Are there any exemptions to the continuing education requirement?
Yes. Individuals who hold a General insurance agent’s certificate limited to hail insurance or livestock insurance and individuals who hold an Adjuster’s certificate limited to hail insurance, travel insurance or equipment warranty insurance are not required to complete a continuing education requirement.
Are there exemptions for Maternity Leave/Long Term Disability?
There are no provisions under the Insurance Act or Regulations to allow an exemption for those agents who are on long term disability or maternity leave.
Can I carry over hours?
The Insurance Agents and Adjusters Regulation allows for a carry forward up to 7.5 hours of continuing education credits from one year to be used in the next year per class of license.
What are the required hours for new agents?
1.25 hours per licensed month. Agents who apply for a certificate of authority (license) with 3 or less months remaining in the certificate term are not required to complete the Continuing Education requirement. If your first license was issued on April 1st, you will not be required to complete a CE requirement until you renew your certificate in the following year.
What happens if I do not complete sufficient CE courses? Can I renew my license and earn my CE credits later?
All insurance agents and adjusters who are required to complete a CE requirement will not be able to renew their certificate(s) until they have demonstrated that they have sufficient CE credit hours. Failure to complete the CE by June 30th will result in your certificate of authority automatically expiring and you will not be authorized to act as an insurance agent or adjuster until you have satisfied your CE requirement and re-applied for your certificate(s).
Get CE Courses
Mar 19, 2019 | News
Virtual Classrooms fast track your career advancement opportunities
If advancing your career is dictated by your higher education accomplishments, then you take the courses you need to upgrade your knowledge and skills. Earning your CAIB designation doesn’t have to mean years of study time, instead, the time you invest could only be months.
Virtual Classrooms are structured but you can customize your learning environment
Once you register for a Virtual Classroom, your study material is broken down into a 4 week calendar, with daily tasks to keep you on schedule. Although your program is structured, you can still enjoy a flexible schedule because even if it’s 2AM, you have access to all online course material such as videos, flashcards and workbooks. Review the course material as often as you need to help reinforce course concepts, your access is unlimited.
Virtual Classrooms give you immediate results
There is no waiting to learn your test scores, or if you passed the last quiz or not. All end of chapter quizzes and practice exams are completed online and your results are displayed immediately.
Virtual Classrooms allow you to communicate with your instructor
Through the Virtual Classroom discussion forum you have opportunities to get feedback or have a great Q&A session with your instructor and fellow classmates.
More Info
Mar 11, 2019 | News
ILScorp offers Level 1 General Insurance or Adjuster Licensing Programs that are completed entirely online. Unlimited access to interactive video courses, flashcards, practice exams, even your final licensing exam is included. Everything you need in one package to successfully pass your level 1 insurance licensing exam.
Feb 15, 2019 | News
Family Day reminds us all to focus our thoughts, energies and time to those closest to us…
the members of our own families.
Throughout our busy lives filled with learning and working, it is easy to allow ourselves to lose sight of what should always be most important – our family.
We wish all of you and the members of your families a happy, memorable, and safe Family Day!
Enjoy the opportunity to share some quality time together.
ILScorp offices are closed Monday February 18, 2019.
If you require assistance during this time, please call us and leave a detailed voicemail message or email info@ilscorp.com.
We will reopen for business on Tuesday, February 19 at 8:30am PST.
Jan 30, 2019 | News
General Insurance Agents – Ontario
New
I want to become a general insurance agent. What are the qualifications and how do I apply?
In order to obtain a license as a general insurance agent, an applicant must:
1. Have their sponsoring company initiate the online General Insurance Agent application accessible through Licensing Link and pay the required fee;
2. Be familiar with the laws of Ontario relating to the licensing of general insurance agents.
3. Be sponsored by a licensed insurer.
4. Hold himself/herself out publicly and carry on business in good faith as a general insurance agent only in the name in which the agent is licensed.
5. Not be engaged in any other business or occupation that would jeopardize the person’s integrity, independence or competence.
6. Be of good character and reputation.
7. Be a suitable person and meet all the licensing requirements.
8. Possess the appropriate educational background.
9. Provide FSCO with an Ontario mailing address that is suitable to permit service by registered mail.
What is the difference between a General Insurance Agent and a General Insurance Broker in Ontario?
Education
What are the educational requirements to become a general insurance agent?
To become licensed as a general insurance agent, the applicant must successfully pass the qualifying examination for general insurance. Examination results are valid for one year and must be forwarded to Financial Services Commission of Ontario (FSCO) when applying. FSCO does not conduct the examinations. General agents are exempt if they have a Chartered Insurance Professional (CIP) designation or successfully passed the equivalent RIBO exam.
Exam Preparation Course
I am a new agent, how do I apply for a general insurance agent license?
New agents should contact their sponsoring company to initiate an online application on their behalf. New agents are unable to submit an application without a sponsor.
Renewal
How do I renew my General insurance agent license?
Insurance agents’ licenses are renewed every two years. Agents must renew their license within 60 days prior to the expiry date on their existing license.
Applicants who have been unlicensed for two or more years will have to re-qualify as a new agent, including redoing the General Insurance examination.
All renewal applications are submitted online via Licensing Link and are initiated by the sponsoring insurer.
Payment/Fees
How much is the fee to obtain/renew my general insurance agent license?
The fee for an insurance agent license and/or to renew an insurance agent license is $150. This fee covers a two-year license period.
Sponsorship
General insurance agents require sponsorship at all times to maintain their license.
Transfer of Sponsorship
I no longer wish to remain with my sponsor. Can I move to another sponsoring company?
Sponsored agents can transfer out of their sponsorship and move to another sponsor.
The current sponsor should terminate the license online so the new sponsoring company can pick up the license and transfer to their company.
Please contact your current and new sponsor for information as the transfer application is created by the sponsor on behalf of the agent.
How much is the fee to transfer my license to a different sponsoring company?
The fee is $50 to transfer your license from one sponsoring company to another. The fee is paid online through Licensing Link. The application is created by the sponsoring company. Please contact your sponsor on how to submit an application.
Terminations
I am a sponsored general insurance agent and wish to terminate/surrender my license. How do I notify FSCO of this?
Sponsored agents shall have their sponsoring company submit an online termination on their behalf. Please contact your sponsoring company to terminate your license.
I want to terminate/surrender my license, but I do not want to lose the qualifications in case I decide to come back into the industry. Are there any provisions, time frames in which I can reinstate my license without taking the qualifying exam again?
Agents have the option of terminating their license and may have their license within two years of the date of termination/expiry (whichever comes first) without having to re-qualify.
Applicants who have been unlicensed for two or more years will have to re-qualify as a new agent, including re-writing the qualifying exam. Please contact your sponsor to terminate your license.
This information is provided for guidance only. The above information was originally provided on the FSCO website.
About FSCO.
FSCO was established under the Financial Services Commission of Ontario Act, 1997 (FSCO Act) with a legislative mandate set out in the FSCO Act. FSCO’s legislative mandate is to provide regulatory services that protect the public interest and enhance public confidence in the sectors it regulates. FSCO regulates the insurance sector; pension plans; loan and trust companies; credit unions and caisses populaires; the mortgage brokering sector; co-operative corporations in Ontario; and service providers who invoice auto insurers for statutory accident benefits claims. FSCO is accountable to the Minister of Finance. In order to support FSCO’s legislative mandate, the FSCO Act sets out a three-part structure for FSCO, which includes the Commission; the Superintendent of Financial Services and Staff; and the Financial Services Tribunal (Tribunal).
Jan 22, 2019 | News
Most of our insurance education focuses on improving product knowledge and developing our technical skills. And there’s nothing wrong with that.
However, more emphasis has been placed on discussing the ethical decisions that insurance professionals have to make daily in their dealings with other industry staff, their clients and the insurance companies they represent.
We work in a society where people pay us for the advice and products we provide to them. They expect us to be fair, honest, trustworthy, and loyal and all the other things they value in their insurance professional. If we breach any of these ethical values, they may well perceive us as being unethical in our dealings with them.
When you hear the word “ethics” what, if anything, comes to mind?
If you said that ethics involves doing the right thing – making the right decision – when in a given situation that offers other possibilities, you are on the right track.
So, it makes sense that if you choose to do the right thing, you are acting ethically and, conversely, if you choose to do the wrong thing, chances are pretty good that you are acting unethically.
There are many definitions of “ethics”, including this one: “Ethics is about fairness, about deciding what is right or wrong, about defining practices and rules that guide responsible conduct between individuals and groups”.
Fairness is a basic ethical value – if you treat people fairly, you reduce the odds of your behaving unethically.
Over the years, philosophers and other scholars have made valiant attempts to provide a generally acceptable definition of ethics. Ethics, like professionalism, is very difficult to define in a fundamental way that will win wide acceptance, but we know it when we see it. Several values are widely recognized as the requisite traits of an ethical person, including:
– honesty and integrity;
– respect and caring for others;
– promise keeping, trustworthiness and fairness; and
– personal accountability.
These ethical values can clearly influence the kind of service insurance organizations provide. A motivated work force that is guided by these ethical values will do much to earn the trust of the insurance buying public. Trust is earned over time through dealing honestly and consistently displaying an attitude that reflects both self-respect and respect for others. If service improves, if ethical values rise, the image of insurance will necessarily improve because image reflects reality.
New Course Making the Right Ethical Decisions
Ethics is all about doing the right thing in a particular situation. As insurance professionals, our clients, insurers and the public (and a lot of other people and organizations) would expect us to do nothing less. In this course, we will look at the following topics as they relate to “Ethics and the Insurance Professional”, specifically:
- Defining “Ethics”
- Establishing Ethical Standards – Sources of Influence
- Basic Ethical Values and What They Really Mean
- The Insurance Broker’s Dilemma
- What a Formal Ethics Program Will Do For Your Brokerage.
Credit Hours: 1
Credit Type: Conformité – Compliance
Credit #: CSF18-12-44571
Accrediting Provinces: QUEBEC
COURSE INFO
This course is included as part of your ILScorp CSF PDU Subscription.
Complete your PDU requirements by November 30, 2019. CSF accredited online courses for Quebec Life Insurance Agents and Financial Planners!
MORE INFO
Reference period from December 1, 2017 to November 30, 2019
With the CSF Accredited Online Courses Subscription you will:
- have 6 months access to over 52 accredited CSF insurance training courses in both text and streaming video formats
- access over 120 PDUs in the categories compliance, insurance of persons, general subjects and group insurance of persons
- save money compared to purchasing individual courses
- have a digital record of your completed course work, which we keep on file for up to seven years
- save time by completing your PDU requirements entirely online, no paperwork or commute
