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Rule change differentiates between individual and corporate license fee, rebalances costs. Changes to a number of Insurance Council fees will be in effect for the upcoming license year that starts June 1. This includes increases to license and application fees, and differences in individual and corporate licenses. A notable aspect of the changes is that they introduce a revised fee structure that rebalances how regulatory oversight is funded by licensees.
There are many instances where licensed individuals may utilize the services of unlicensed assistants. Recently, The Manitoba Insurance Council has received inquiries as to what types of activities require licensure. By licensing agents, brokers and adjusters, Council ensures adequate education and experience standards are met and continued, and that individuals are financially reliable by maintaining continuous professional liability insurance (Errors and Omissions coverage), in order to protect the public.
The Client Focused Reforms that came into effect in 2021 have created a significant amount of dialogue, and more than a few questions. Stakeholders want to be prepared for the changes, to meet the expectations, and to incorporate practices which will result in the desired goals. Several branches of the industry have come together in a committee to respond to the questions posed by stakeholders. The Canadian Securities Administrators (CSA) convened a Client Focused Reforms Committee which includes members of its own, as well as staff from the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada.
Cargo claims represent one of the largest categories of property and liability claims both in number and value. The purpose of this course is to prepare the participant to competently handle the discussion of cargo coverage and its important benefits, as well as to explain and assist in the claims process.
Two new Alberta Auto courses now available to all ILScorp General CE Subscribers. Alberta Personal Automobile Insurance and Alberta Commercial Automobile Insurance. Both courses are included in the ILScorp General CE Course Subscription
About the Alberta Personal Automobile Insurance CE Course
Pathway to Your Alberta General Level 1 License. ILScorp is an approved General Level 1 Educator and our licensing Program has everything you need in one package to successfully pass your Alberta Level 1 General Insurance licensing exam. See below for a quick outline on how to get started with your program.
In the interest of fairness, transparency, and to expedite the application process, the Councils provide the following examples of other occupations which may present a conflict of interest while acting as an insurance agent, or may present an opportunity to exercise undue influence in order to secure or direct insurance business.
The purpose of this course is to provide background and specific details relating to the Direct Compensation for Property Damage (DCPD) changes that will impact Alberta automobile policies as of January 1, 2022. This goal is addressed through a comprehensive review of the previous regulation changes, the upcoming legislative changes, and a discussion of what DCPD will mean for drivers.
The deadline for ChAD PDU requirements is Friday December 31, 2021. As we quickly approach the ChAD deadline, many of our ILScorp ChAD subscribers are wondering why their completed ChAD PDUs are not showing in their PDU File on the Chambre de l’assurance dommages website.
Your completed PDUs will not show immediately on the ChAD website as they are updated on a bi-monthly basis. LScorp enters the completed courses on the Chambre’s site on the 16th for courses completed from the 1-15th of the month and on the 1st for courses completed on the 16-31 of the previous month. Please allow a few business days for all the courses to be entered.