Under Construction

Adjuster -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.

Agency-is an establishment which undertakes the work of the main company and caters to the needs of its customer. It is a sort of a branch office.

Agent- a representative who sells the policy on behalf of an insurance company. The agent helps consumers select the right insurance based on their needs but represents an insurance company. Insurance agents will sell and negotiate different.

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;