General Insurance

General Insurance

General Insurance


The General Insurance Council of Saskatchewan (“GICS”) operates under an authority delegated by the Director, Insurance and Real Estate Division to licence and regulate insurance agents, brokers, adjusters and agencies in the province of Saskatchewan.

General Insurance Adjusters, Property & Casualty Agents, Restricted Travel Agents, Crop Hail Agents/Adjusters and Restricted Insurance Agents are regulated through the General Insurance Council.

Below you will find the educational requirements and licence restrictions related to the licensing of each category of licence.

Definitions

According to The Insurance Act, “adjuster” means, subject to subsection (4), a person who, for compensation, through any medium does one or more of the following:

  1. directly or indirectly solicits the right to negotiate or investigate the settlement of a loss or claim under a contract of insurance on behalf of an insured or insurer;
  2. negotiates or investigates the settlement of a loss or claim under a contract of insurance on behalf of an insured or insurer;
  3. holds himself or herself out as an adjuster with respect to the settlement of any loss or claim mentioned in clause (a) or (b);
  4. assists a person with making a claim under an insurance policy or a contract of insurance.

According to The Insurance Act, an "insurance agent" means, subject to subsection (2), any person who for any compensation and through any medium does one or more of the following:

  1. acts or aids in any manner in soliciting, negotiating, effecting or procuring the making of any contract of insurance or reinsurance or the continuance or renewal of a contract of insurance or reinsurance on behalf of an insurer, potential insured or insured, whether or not the person has agreements with insurers allowing the person to bind coverage and countersign insurance documents on behalf of insurers;
  2. holds himself, herself or itself out as an insurance agent, broker or consultant;
  3. provides consulting, advisory or administrative services with respect to the insurance or contracts of insurance that are described in section 1-14 or 1-15;
  4. provides advice to a person with respect to a specific insurance policy, plan or program;
  5. evaluates or managers insurance risks on behalf on an insured;
  6. Not yet Proclaimed
  7. transmits for another person an application for or a policy of insurance to or from an insurer;
  8. retains as compensation any portion of a premium received by the person;
  9. enrols individuals in prescribed contracts of insurance;
  10. engages in any other prescribed activity;

According to The Insurance Act, “managing general agent” means an insurance agent that manages all or part of the business of an insurer and carries out specific activities on behalf of that insurer, including:

  1. soliciting, negotiating or accepting applications for insurance from licensed insurance agents;
  2. effecting and countersigning contracts of insurance;
  3. accepting risks;
  4. underwriting insurance contracts;
  5. entering into written agency agreements with licensed insurance agents;
  6. supervising and monitoring the activity of licensed insurance agents with whom it has entered into written agency agreements; and
  7. undertaking any other prescribed duties or activities;

What Type of General Insurance Licence Are You Applying For?

LICENCE LEVEL/CATEGORY

Restricted Auto Insurance

LICENSING REQUIREMENTS

An individual applying for a Restricted Auto licence must successfully complete the General Insurance Council Bylaw Examination plus ONE of:

  1. the Auto Part 1 Basic Course and examination and the Auto Part 2 Extension Course and examinations offered by the Insurance Brokers' Association of Saskatchewan;
  2. the Auto Part 2 Extension Course and examination offered by the Insurance Brokers' Association of Saskatchewan, and the SGI Auto Fund New Issuer Training course and examination;
  3. the Saskatchewan Automobile Licensing: Restricted Agent course and examination offered by the Insurance Institute of Canada; or
  4. the Extended Auto Insurance Licensing Course and examination offered by the Insurance Institute of Canada, and the SGI Auto Fund New Issuer Training course and examination.

LICENCE RESTRICTIONS

A Restricted Auto Insurance licensee shall:

  1. be limited to the sale of automobile insurance, excluding any insurance for vehicles that are used commercially.  For the purposes of this clause, "used commercially" is defined as any vehicle whose primary purpose is for conduct of business, including conveyance of passengers for hire and conveyance of goods for hire but not including farm use;
  2. not act as a supervisor; and
  3. not act as a designated representative of an agency.

 

 An individual applying for a licence, who has not held a property and casualty agent licence in any jurisdiction in Canada during the past two consecutive years, will be considered a new applicant.

For a new applicant applying for a property and casualty agent licence, only courses completed in the year prior to their application for licence are considered valid.

 

Click HERE to apply.

LICENCE LEVEL/CATEGORY

Level 1 Property & Casualty Insurance and Insurer Representative

LICENSING REQUIREMENTS

An individual applying for a Level 1 licence must meet the licensing qualifications for a Restricted Auto licence and successfully completed ONE of:

  1. the Fundamentals of Insurance Course and examinations offered by the Insurance Brokers' Association of Saskatchewan;
  2. the Canadian Accredited Insurance Broker (CAIB 1) course and examination offered by the Insurance Brokers Association of Saskatchewan;
  3. the C81, C82 and the Saskatchewan Licensing Supplement course and examinations offered by the Insurance Institute of Canada;
  4. the C11, C130 and the Saskatchewan Accident & Sickness and Travel Health Insurance Supplement courses and examinations offered by the Insurance Institute of Canada; or
  5. the Introduction of General Insurance Program and examinations offered by the ILS Learning Corporation.

LICENCE RESTRICTIONS

A Level 1 licensee shall not:

  1. act in the transaction of farm/commercial lines of insurance unless supervised by a Level 2 or Level 3 licensee;
  2. act as a supervisor; or
  3. act as a designated representative of an agency.

 

An individual applying for a licence, who has not held a property and casualty agent licence in any jurisdiction in Canada during the past two consecutive years, will be considered a new applicant.

For a new applicant applying for a property and casualty agent licence, only courses completed in the year prior to their application for licence are considered valid.

 

Click HERE to apply.

LICENCE LEVEL/CATEGORY

Level 2 Property & Casualty Insurance

LICENSING REQUIREMENTS

An individual applying for a Level 2 licence must meet the licensing qualifications for a Level 1 licence and successfully complete ONE of:

  1. the Canadian Accredited Insurance Broker (CAIB 2 and CAIB 3) courses and examinations offered by the Insurance Brokers' Association of Saskatchewan; or
  2. the C130 and C131 courses and examinations offered by the Insurance Institute of Canada.

LICENCE RESTRICTIONS

A Level 2 licensee shall not:

  1. act as a designated representative of an agency.

 

 An individual applying for a licence, who has not held a property and casualty agent licence in any jurisdiction in Canada during the past two consecutive years, will be considered a new applicant.

For a new applicant applying for a property and casualty agent licence, only courses completed in the year prior to their application for licence are considered valid.

 

Click HERE to apply.

LICENCE LEVEL/CATEGORY

Level 3 Property & Casualty Insurance

LICENSING REQUIREMENTS

An individual applying for a Level 3 licence must meet the licensing qualifications for a Level 2 licence and successfully complete ONE of:

  1. the Canadian Accredited Insurance Broker (CAIB 4) course and examination offered by the Insurance Brokers' Association of Saskatchewan;
  2. the course of study leading to a Chartered Insurance Professional (CIP) or an Associate (AIIC) designation through the Insurance Institute of Canada; or
  3. the C132 course and examination offered by the Insurance Institute of Canada.

LICENCE RESTRICTIONS

A Level 3 licensee shall not:

  1. act as a designated representative of an agency unless he or she has at least two years experience as a property and casualty insurance licensee within the past five years.

 

 An individual applying for a licence, who has not held a property and casualty agent licence in any jurisdiction in Canada during the past two consecutive years, will be considered a new applicant.

For a new applicant applying for a property and casualty agent licence, only courses completed in the year prior to their application for licence are considered valid.

 

Click HERE to apply.

LICENCE LEVEL/CATEGORY

Crop Hail Insurance

LICENSING REQUIREMENTS

An individual applying for a Hail only licence must:

  1. if a resident of Saskatchewan, successfully complete the Hail Agent Qualification examination.

LICENCE RESTRICTIONS

A Crop Hail Insurance Agent shall not:

  1. transact in any type of insurance product other than Crop Hail Insurance.

 

 An individual applying for a licence, who has not held a property and casualty agent licence in any jurisdiction in Canada during the past two consecutive years, will be considered a new applicant.

For a new applicant applying for a property and casualty agent licence, only courses completed in the year prior to their application for licence are considered valid.

 

Click HERE to apply.

LICENCE LEVEL/CATEGORY

Restricted Travel

LICENSING REQUIREMENTS

An individual applying for a Restricted Travel licence must successfully complete the General Insurance Council Bylaw examination plus:

  1. the Saskatchewan Travel Insurance Qualifying course and examination; or
  2. the Life Licence Qualification (LLQP) Accident & Sickness course and examination.

LICENCE RESTRICTIONS

A Restricted Travel Insurance Agent shall not:

  1. transact in any type of insurance product other than Travel Insurance.

 

 An individual applying for a licence, who has not held a property and casualty agent licence in any jurisdiction in Canada during the past two consecutive years, will be considered a new applicant.

For a new applicant applying for a property and casualty agent licence, only courses completed in the year prior to their application for licence are considered valid.

 

Click HERE to apply.

LICENCE LEVEL/CATEGORY

Third Party Administrator (TPA) Designated Representative

LICENSING REQUIREMENTS

An individual applying for a Third Party Administrator Designated Representative licence must have knowledge of the administrative service being provided.

LICENCE RESTRICTIONS

A Third Party Administrator Designated Representative shall not:

  1. act as an agent for any type of insurance product.

 

 An individual applying for a licence, who has not held a property and casualty agent licence in any jurisdiction in Canada during the past two consecutive years, will be considered a new applicant.

For a new applicant applying for a property and casualty agent licence, only courses completed in the year prior to their application for licence are considered valid.

 

Click HERE to apply.

LICENCE LEVEL/CATEGORY

All Agencies and Restricted Insurance Agents

LICENSING REQUIREMENTS

1.  An agency must:

    1. provide evidence that the agency is registered with the Corporate Registry of the Information Services Corporation; and
    2. maintain that the registrations for as long as they hold an active licence.

2.  Unless exempt from the requirement to register with the Corporate Registry of the Information Services Corporation, a Restricted Insurance Agent must:

    1. provide evidence that the Restricted Insurance Agent is registered with the Corporate Registry of the Information Services Corporation; and
    2. maintain that registration for as long as they hold an active licence.

3. An agency of Restricted Insurance Agent must appoint an individual to be the designated representative.

4. Failure to appoint and maintain a designated representative shall result in the suspension of the licence of the business.

 

A designated representative must be:

  1. for Restricted Insurance Agents, an individual who is responsible for receiving notices and other documents, pursuant to the Act, on behalf of the Restricted Insurance Agent;
  2. for Crop Hail agencies and Restricted Travel agencies, an individual who holds an active licence; and
  3. for all other Property and Casualty agencies, an active Level 3 licensee with at least two years experience as a property and casualty licensee within the past five years.

Click HERE to apply.

 

Consumer Protection Bond Wording for P&C agency licences can be found Here

 

If the insurance products being offered exceed what is defined below, the applicant would require a licence other than RIA.

Classes of Insurance: 

Automobile Gap Insurance

means insurance respecting an automobile that:
(a) is paid to a creditor under the loan being used to finance the purchase of the automobile on the primary insurer’s determination that the automobile is a total loss or total write‑off; and
(b) is calculated as the difference between:

(i) the amount outstanding on a loan used to finance the purchase of an automobile; and
(ii) the value of the automobile as assessed by the primary insurer of the debtor.

Cargo Insurance means insurance covering goods in transit.
Creditor’s Vehicle
Inventory Insurance
means insurance against direct and accidental loss of or damage to vehicles that are held in stock for display and sale purposes by a debtor of a creditor, if some or all of those vehicles have been financed by the creditor.
Equipment Warranty
Insurance
means the subclass of boiler and machinery insurance that provides insurance against loss of or damage to a motor vehicle, or recreational, marine, farm implement or construction equipment, arising from its mechanical failure, but does not include automobile insurance or insurance incidental to automobile insurance or any other prescribed equipment
Export Credit
Insurance
means a policy that provides insurance to an exporter of goods or services against a loss incurred by the exporter due to a non‐payment of exported goods or services.
Highway Transport
Vehicle
means a truck, power unit or semi‑trailer as defined in The Traffic Safety Act.
Highway Transport
Vehicle Gap
Insurance

means insurance respecting a highway transport vehicle that:
(a) is paid to a creditor under the loan being used to finance the purchase of the highway transport vehicle on the primary insurer’s determination that the highway transport vehicle is a total loss or total write‑off; and
(b) is calculated as the difference between:

(i) the amount outstanding on a loan used to finance the purchase of a highway transport vehicle; and
(ii) the value of the highway transport vehicle as assessed by the primary insurer of the debtor.

Highway Transport
Vehicle Payment
Insurance

means insurance respecting a highway transport vehicle that:
(a) is obtained from an insurer;
(b) is paid to a purchaser or lessor of a highway transport vehicle on a determination by the primary insurer of the highway transport vehicle that the highway transport vehicle is a total loss or total write‑off; and
(c) is calculated as the value of the initial payment made by the purchaser or lessor of the highway transport vehicle to the highway transport vehicle dealer at the time of:

(i) entering into the purchase agreement respecting the highway transport vehicle; or
(ii) entering into the lease of the highway transport vehicle.

Portable Electronics
Insurance
means insurance that is within the class of property insurance and that provides coverage against damage to or the loss of a portable electronic device.
Rented Automobile
Liability Insurance
means insurance that is within the class of automobile insurance and that provides coverage to an automobile renter and other authorized drivers of the rented automobile for liability arising from its operation.
Rented‐Automobile
Accidental Injury or
Death Insurance
Means insurance that is within the class of automobile insurance and that provides coverage to an automobile renter and other occupants of the rented automobile for bodily injury or death and reimbursement for medical expenses resulting from a vehicular accident involving the rented automobile that occurs during the rental period.
Rented‐Automobile
Contents Insurance
means insurance that is within the class of property insurance and that provides coverage to an automobile renter and other occupants of the rented automobile against damage to or the loss of personal property in the rented automobile during the rental period.
Travel Insurance

means:
(a) a policy that provides insurance to an individual with respect to a trip by the individual away from the province or territory in which the individual ordinarily resides, without any individual assessment of risk, against:

(i) loss that results from the cancellation or interruption of the trip;
(ii) loss of or damage to personal property that occurs while on the trip; or
(iii) loss that is caused by the delayed arrival of personal baggage while on the trip; or

(b) a group insurance policy that provides insurance to an individual with respect to a trip by the individual away from the province or territory in which the individual ordinarily resides:

(i) against expenses incurred while on the trip that result from an illness or disability of the individual that occurs on the trip;
(ii) against expenses incurred while on the trip that result from bodily injury to or the death of the individual caused by an accident while on the trip;
(iii) where the insurer undertakes to pay one or more sums of money in the event of an illness or the disability of the individual that occurs on the trip or of bodily injury to or the death of the individual that is caused by an accident while on the trip;
(iv) against expenses incurred by the individual for dental care necessitated by an accident while on the trip; or
(v) if the individual dies while on the trip, against expenses incurred for the return of that individual’s remains to the place where the individual was ordinarily resident before death, or for travel expenses incurred by a relative of that individual who must travel to identify that individual’s remains.

 

RIA Entity Types

Automobile
Dealership
must be licensed with Saskatchewan Financial and Consumer Affairs Authority of Saskatchewan as an automobile dealership.
Car Rental Agency means a person or entity that carries on the business of renting automobiles to the public for a period of 120 days or less.
Construction
Equipment
Dealership
must be licensed in Saskatchewan under the Agricultural Implements Act.
Deposit‐Taking
Institution
means:
(a) a bank or authorized foreign bank within the meaning of section 2 of the Bank Act (Canada);
(b) a loan corporation or trust corporation incorporated by or pursuant to an Act, an Act of the Parliament of Canada or an Act of the Legislature of another province or a territory of Canada;
(c) a credit union incorporated by or pursuant to an Act, an Act of the Parliament of Canada or an Act of the Legislature of another province or a territory of Canada; or
(d) any other prescribed entity.
Farm Implement
Dealership
must be licensed in Saskatchewan under The Agricultural Equipment Dealerships Act.
Portable Electronics
Vendor
means a person or entity that:
(a) sells or leases portable electronics devices; or
(b) otherwise provides portable electronics devices in connection with a transaction between the person or entity and another person or entity;

LICENCE LEVEL/CATEGORY

Level 1 Adjuster

LICENSING REQUIREMENTS

An individual applying for a Level 1 licence must successfully complete the General Insurance Council Bylaw examination plus ONE of:

  1. the C11 course and examination offered by the Insurance Institute of Canada;
  2. the C81 and C82 courses and examinations offered by the Insurance institute of Canada;
  3. the GICS Adjuster Qualifying examination;
  4. the ILScorp Level 1 Adjuster Licensing Program;
  5. experience as a property and casualty insurance agent for no less than two years within the past five years; or
  6. experience as a general claims adjuster in an insurance company, general agent or adjusting company for no less than one year within the past three years.

LICENCE RESTRICTIONS

A Level 1 licensee shall not:

  1. sign any reports or correspondence unless co-signed by a Level 2 or Level 3 licensee;
  2. act as a supervisor;
  3. act as a designated representative of an adjusting firm; or
  4. act as a public adjuster.

 

 An individual applying for a licence, who has not held a property and casualty adjuster licence in any jurisdiction in Canada during the past two consecutive years, will be considered a new applicant.

For a new applicant applying for a property and casualty adjuster licence, only courses completed in the year prior to their application for licence are considered valid.

 

Click HERE to apply.

LICENCE LEVEL/CATEGORY

Level 2 Adjuster

LICENSING REQUIREMENTS

An individual applying for a Level 2 licence must meet the licensing requirements for a Level 1 and successfully complete ONE of:

  1. experience as a Level 1 licensee for a minimum of two years plus the C32, C110, C111 and C112 courses and examinations offered by the Insurance Institute of Canada; or
  2. experience as a general claims adjuster in an insurance company, general agency or adjusting firm for no less than five years within the past seven years.

LICENCE RESTRICTIONS

A Level 2 licensee shall not:

  1. act as a designated representative of an adjusting firm; or
  2. act as a public adjuster.

 

 An individual applying for a licence, who has not held a property and casualty adjuster licence in any jurisdiction in Canada during the past two consecutive years, will be considered a new applicant.

For a new applicant applying for a property and casualty adjuster licence, only courses completed in the year prior to their application for licence are considered valid.

 

Click HERE to apply.

LICENCE LEVEL/CATEGORY

Level 3 Adjuster

LICENSING REQUIREMENTS

An individual applying for a Level 3 licence must meet the licensing qualifications for a Level 2 licence and successfully complete:

  1. the course of study leading to a Chartered Insurance Professional (CIP) or an Associate (AIIC) designation through the Insurance Institute of Canada including Claims Professional Series courses and examinations for C110, C111 and C112.

LICENCE RESTRICTIONS

A Level 3 licensee shall not:

  1. act as a designated representative of an adjust firm unless he or she has at least two years experience as a licensed adjuster/adjuster representative within the past five years.

 

 An individual applying for a licence, who has not held a property and casualty adjuster licence in any jurisdiction in Canada during the past two consecutive years, will be considered a new applicant.

For a new applicant applying for a property and casualty adjuster licence, only courses completed in the year prior to their application for licence are considered valid.

 

Click HERE to apply.

LICENCE LEVEL/CATEGORY

Adjusting Firm

LICENSING REQUIREMENTS

1.  An adjusting firm must:

    1. provide evidence that the firm is registered with the Corporate Registry of the Information Services Corporation; and
    2. maintain that registration for as long as they hold an active licence.

2.  An adjusting firm must appoint an individual to be the designated representative.

3. Failure to appoint and maintain a designated representative shall result in the suspension of the adjusting firm's licence.

 

(2) A designated representative must be:

  1. for Crop Hail adjusting firms, an individual who holds an active crop hail adjusting licence; and
  2. for all other Property and Casualty adjusting firms, an active Level 3 licensee with at least two years experience as a property and casualty adjuster licensee within the past five years.

Click HERE to apply.

LICENCE LEVEL/CATEGORY

Third Party Administrator (TPA)

LICENSING REQUIREMENTS

1.  A TPA must:

    1. provide evidence that the TPA is registered with the Corporate Registry of the Information Services Corporation; and
    2. maintain that registration for as long as they hold an active licence.

2.  A TPA must appoint an individual to act as the designated representative.

3. Failure to appoint and maintain a designated representative shall result in the suspension of the TPA licence.

4.  A TPA must have a written agreement with an insurer acceptable to GICS, setting out the specific responsibilities of the TPA.

5.  A TPA must establish reasonable procedures to ensure the TPA's employees or its agents are properly trained and knowledgeable about the insurance products being administered on behalf of the insurer and ensure the procedures established are being used.

 

A designated representative must be licensed.

Click HERE to apply.

LICENCE LEVEL/CATEGORY

Crop Hail Adjuster

LICENSING REQUIREMENTS

An individual applying for a Hail Adjuster licence must successfully complete:

  1. The GICS Hail Adjuster Examination.

LICENCE RESTRICTIONS

A Crop Hail Adjuster shall not:

a) adjust any type of loss other than Crop Hail Losses.

Application for licence


Persons applying for a licence in one of the property and casualty categories set out in Schedule A, Table 1-1 shall provide to GICS:

(a) proof of having met the licence requirements as set out in sections 7-3, 7-4, 7-5, 7-6 or 7-7;

(b) proof of having met the financial security requirement (errors and omissions insurance and/or bond), pursuant to sections 5-10 or 5-23 of the regulations;

(c) a completed application form as required by GICS for the category of licence applied for;

(d) payment of the required fee for the category of licence as set out in Schedule A;

(e) if the person is an MGA or TPA, copies of all currently in force or draft agency contracts, pursuant to clauses 5-11(g) and 5-11(h) of the Act; and

(f) if the person is a restricted insurance agent, copies of all currently in force or draft agency contracts, pursuant to clause 5-70(2)(b) of the Act.

GICS Pic

General Insurance Licencing Fees

  • A business or individual licence:
    • for an all classes of property and casualty insurance licence;
    • for a property and casualty other than crop hail insurance adjuster; and
    • for a property and casualty other than crop hail insurance public adjuster.
  • An individual licence:
    • for an insurer's representative; and
    • for a designated representative of a third party administrator;
  • A business licence:
    • restricted to travel insurance;
    • for a managing general agent; and
    • for a third party administrator.

  • A business licence:
    • for crop hail insurance; and
    • for a crop hail insurance adjuster; and
  • An individual licence:
    • for a crop hail adjuster.

  • An individual licence:
    • restricted to auto insurance;
    • restricted to travel insurance;
    • for crop hail insurance; and
    • for a crop hail adjuster representative.

Number of Employees of Restricted Insurance Agent Fees
1 to 4 $150
5 to 10 $225
11 to 15 $375
16 to 20 $500
21 to 99 $700
100 to 249 $1,500
250 to 499 $3,000
500 or more $5,500

A licensee who fails to comply with the requirements outlined in section 8-1 on or before the annual reporting date shall be assessed, in addition to the annual fee, a late filing fee equal to 50% of the annual fee.

A refund of an annual fee shall not be made once a licence has been issued

A fee of $50 shall be retained when an application for a licence has been denied.

(1) An administration fee of $50 shall be charged for:

(a) a reinstatement of a licence; and

(b) discontinuation of a licence application after processing by ICS has begun.

(2) Subject to subsection 5-5(3), an administration fee of $25 shall be charged for:

(a) a certificate of licence status;

(b) a non-resident endorsement used to apply for licensing in another jurisdiction;

(c) a duplicate receipt;

(d) a duplicate licence;

(e) cheques returned to ICS;

(f) deletion or addition of licence class to an existing licence;

(g) a change of licence recommendation; and

(h) changes to a licence that may be required to ensure compliance with the requirements of the Act, regulations and or an insurance council’s bylaw.

(3) In cases where the administration fee in clauses 5(2)(g) or 5(2)(h) involves all licensees in an agency or adjusting firm, council may, at its sole discretion, set a flat rate for completion of the transactions. The total flat rate fee cannot exceed the per transaction fee amount generated by applying clauses 5(2)(g) or 5(2)(h).

An administration fee of $250 will be charged for electronic copies of the Insurance Register.

P&C Designated Representative Handbook


The purpose of this Designated Representative Handbook (“Handbook”) is to summarize those responsibilities and provide guidance to the DR in what is expected of them. Appendix B (attached) of the General Insurance Council Bylaws (“the Bylaws”) outlines the eight (8) Operating Principles for the DR. This Handbook expands on those Principles in establishing professional standards for the management of a Property and Casualty Insurance Agency.

The Designated Representative Handbook can be found Here