May 15, 2020 by David Gambrill
The Insurance Institute of Canada, the educational arm of the Canadian property and casualty insurance industry, will be providing OTL/Level 1 broker agent licensing exams in an online format.
The online format allows licensing candidates to complete their exams from the safety of their home or office without the need to travel to an exam centre.
“As the trusted provider of insurance education for the P&C industry in Canada, we are pleased to be able to provide a solution that will allow for industry professionals and new entrants to get licensed,” Peter Hohman, president and CEO of the Insurance Institute of Canada, said in a statement. “Being able to conduct exams online allows us to follow social distancing guidelines and ensures the safety of our staff and students.”
Canadian P&C insurance organizations across the country have not had access to licensing exams since mid-March, when the COVID-19 pandemic shut down in-person exams.
In addition, the Insurance Institute is partnering with Registered Insurance Brokers of Ontario (RIBO), Ontario’s broker regulator, to administer RIBO licensing exams in an online format. “We are pleased to be able to support our partners at RIBO by hosting exams for their students,” Hohman said.
In a previous interview with Canadian Underwriter, Hohman noted that the Institute was in discussions with the regulators to come up with a virtual solution for the licensing exams.
“There are a number of brokers who are looking to bring on people to help be able to work with customers over the phone, and I know a number of direct writers are also looking for a solution in that regard,” Hohman said at the time. “We are working with the regulators to come up with a solution that responds to general requirements and also the needs of the industry in that regard.”