What’s in a Name?

Reacting to “numerous questions” related to the proper identification of agents, brokers and business names on insurance licenses, the Insurance Council of Manitoba (ICM) published some points by which all agents/brokers must abide.
In its ICM Council Report 2009, the council’s points include tips to “minimize confusion” when a licensed broker or agent presents himself or herself to the public.
“One very important way to do this is to add the word ‘insurance’ or ‘assurance’ to your business cards, advertising, letterheads, etc. if it’s not already included in the licensed business name,” the council says in its report. “In doing so, this ensures the client can identify you as being engaged in the business of insurance.”
The council also lays down the rules for holding licenses for multiple agencies.
 “If you are a general insurance broker, and you are working for more than one agency with different corporate ownership, sponsorship and designated representatives, you must hold a separate license for each agency with whom you are employed,” the report says.
“Sponsorship and licensing through one agency does not encompass licensing with multiple agencies.
“Separate licenses are not required for satellite offices of an agency with one designated representative and agency name.”
The full report is available at:
http://www.icm.mb.ca/bulletin/index.html