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Changes to Ontario law make it easier for out-of-province insurance agents, adjusters to obtain equivalent licence in Ontario


July 8, 2011   by Canadian Underwriter


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Recent changes to the Agreement on Internal Trade (AIT) and the Ontario Labour Mobility Act are now in effect, making it easier for licenced general insurance agents and adjusters outside Ontario to apply for and receive a licence in Ontario for the same occupation.
The AIT is an intergovernmental agreement signed by Canada’s premiers and came into force in 1995.
Under the new rules, an individual holding a licence in good standing that is equivalent to Ontario’s insurance agent or adjuster licence may be exempted from Ontario’s education and experience requirements. However, he or she will still have to meet all the other eligibility requirements for an Ontario licence.
When applying under the new streamlined licencing process, a general insurance agent from another province would need to complete an exam on Ontario automobile insurance, administered by Registered Insurance Brokers of Ontario (RIBO).
Similarly, adjusters from outside the province seeking to adjust auto claims would have to take an exam on Ontario auto insurance.
More information can be found at:
http://www.fsco.gov.on.ca/en/insurance/Licensing-Registration/Pages/lic_another_prov_ter.aspx


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