Canadian Certified Insurance Broker
The Designation
Business means competition. Therefore it is essential to be seen as a leader in the establishment of high standards of technical competence, knowledge and service. One of the most effective ways to demonstrate your leadership in professional standards is through the earning of the "ultimate" in broker designations.
What is the CCIB designation? It is the highest designation awarded by the Insurance Brokers Association of Canada (IBAC). The designation denotes a professional standard of excellence towards which insurance brokers may strive. The CCIB sets a standard of quality to merit public recognition throughout Canada and to ensure the professional insurance broker will continue to flourish.The Qualifications
Candidates for the CCIB designation must be, at the time of registering for the examinations, employed by a property and casualty insurance brokerage who is a member in good standing of a member association which is and continues to be a member of IBAC. The right to use and maintain the CCIB designation shall only continue if the membership status is maintained.
The occupation of the candidate must be primarily that of a property and casualty insurance broker.
The candidate must have a minimum of five consecutive years experience in the insurance industry.
Candidates must have successfully completed the CAIB designation or other approved prerequisite course of study.
The Examinations
The designation is awarded upon the successful completion of three examinations wherein the candidate is challenged on his/her practical knowledge of property and casualty insurance coverages available in the marketplace. The candidate must also have comprehensive understanding of the Statutory Conditions, Insuring Agreements, Policy Conditions and Legal Concepts. The exams are as follows:
Essay Style Questionnaire
This 3 ½ hour examination contains ten essay style questions concerning all aspects of property and casualty insurance. This examination will test the practical application of the student's technical knowledge to case study situations. Risk management analysis skills are also examined.
Short Answer Questionnaire
This 2 hour examination contains short answer questions covering all areas of property and casualty insurance. This examination will test the technical knowledge of the candidate.
Final Examination
OPTION I - Oral Examination:
This 1 ½ hour examination is the closest "true to life" test a professional property and casualty insurance broker can challenge in Canada. Candidates prepare an insurance proposal based on client information provided. They will be orally tested by a panel on the proposal they have presented. The questions asked will be both from a client and underwriting perspective.
OPTION 2 - Survey Examination:
This 5 hour examination is an open book exam. Candidates prepare a written survey based on an insurance proposal from a clients' perspective. The case-study will outline the risk in detail, including all information necessary for the preparation of a comprehensive proposal.
Exam Preparation
Preparation materials and registration can be provided by IBAN.
Further Requirements
Upon acquiring the credits necessary for awarding of the CCIB designation, the candidate agrees, as a condition of that award:
- to abide by the terms of reference governing the use of IBAC designations.
- that the designation may be revoked for due cause as determined by IBAC and the relevant member association.
- to abide by the CCIB Code of Ethics.
Registration
Written examinations are held in May and December each year in conjunction with the CAIB examinations. The dates are set by IBAC and announced by its member associations.
The oral examination is set at a mutually agreeable date once the candidate has met all the prerequisites to the examination.
For further information on fees, dates, examination centers, etc. please contact the IBAN office.
