ILScorp BlogThe latest and greatest info from ILScorp!
For spot check purposes, continuing education certificates should be kept for 5 years to indicate compliance with the Continuing Education Program. The continuing education certificates are not to be submitted to RIBO unless specifically requested by RIBO during a spot check. The Principal Broker will be responsible for ensuring that licensed individuals comply with RIBO requirements. However, it is also each individual’s responsibility to keep track of their own continuing education hours and certificates for 5 years, even if the brokerage firm/employer keeps a record of it.read more
Four New RIBO Management CE now available! New Course, Insurance Distribution Channels. Credit Hours: 2 RIBO Management CE.
Demand for insurance products and services remains as strong as ever but there has been a fundamental shift in the channels consumers choose to make their purchases. Insurance is generally bought directly through an insurer (through its captive agents, the web or other direct channels) or through independent agents and commercial brokers who provide access to the products of several insurers. Agreements bind brokerages
Canada Day 2018 is Sunday, July 1. It will also be observed as a national holiday on Monday, July 2, everywhere in Canada (except in Newfoundland, Labrador, and Nova Scotia.) On this day a large percentage of the population gets the day off… including the staff of ILScorp!
Although the ILScorp offices will be closed Monday July 2nd for Canada Day, you can still purchase or renew your CE course subscriptions online.read more
Brokerages often regard themselves as being independent of insurance companies, yet their very existence depends upon the insurance company that assumes the risks represented by the policies the broker sells. This tie, in which the broker is the intermediary between the consumer/client and the insurance company, is articulated in the agreements forged between the two entities. Upon completion of this course you will have a strong understanding of the elements of broker agreements.read more
The Insurance Agents and Adjusters Regulation of Alberta sets out the Continuing Education Requirements for insurance agents, brokers and adjusters. Here are the answers to some of the most common questions asked by Agents, Brokers and Adjusters in Alberta. What are the Certificate Terms for Continuing Education? Life and Accident & Sickness insurance agents, General insurance agents and Adjusters are required to complete in each certificate term at least 15 hours of approved continuing education courses. Effective July 1, 2014, a “certificate term” means the period beginning on July 1 and ending on the next June 30. How do I know that I have satisfied my CE requirements? You must log in to AIC and check your CE Summary Report.read more
What happens if you fail to renew your license by May 31? You will be prohibited from acting as an agent. Your agency or sponsoring insurance company will be notified immediately of the expiry of your license. If you wish to apply under the reinstatement process, you will be required to complete ad submit a paper application form, along with the annual licensing fee and the reinstatement fee of $70.00. You will not be able to act as an gent until the Insurance Council of Manitoba approves the application and confirms the reinstatement by email to you. Delays could occur where additional requirements must be submitted for reinstatement.read more
Demand for insurance products and services remains as strong as ever but there has been a fundamental shift in the channels consumers choose to make their purchases. Insurance is generally bought directly through an insurer (through its captive agents, the web or other direct channels) or through independent agents and commercial brokers who provide access to the products of several insurers. Agreements bind brokerages and insurance companies together. The terms of these can vary according to the companies involved. These agreements will document the relationship that exists between the two parties.read more
The ILScorp offices will be closed Monday, May 21, 2018 for the Victoria Day holiday.
We hope that you enjoy your long weekend, and can get out and enjoy the ‘unofficial’ kick off to summer here in Canada!
Our staff will be back in the office on Tuesday May 22 at 9 a.m. PST to answer your questions.
Looking to complete your CE hours this weekend? You can purchase your ILScorp subscription online anytime and get started today.read more
General Insurance Continuing Education Requirements and Definitions for BC. Number of Hours Required: if you have an approved designation* you must have 4 qualified hours of continuing education; OR if you have been licensed as a general insurance agent or salesperson for at least 5 of the last 7 years in a Canadian jurisdiction, and you do not have an approved designation, you must have 6 qualified hours of continuing education; OR if you have not been licensed as a general insurance agent or salesperson agent for at least 5 of the last 7 years in a Canadian jurisdiction and you do not have an approved designation, you must have 8 qualified hours of continuing education.read more