Statement on recent inquiries regarding education and licensing pathways for insurance brokers in Saskatchewan
Please find below a statement from Insurance Brokers Association of Saskatchewan (IBAS) CEO Derek Lothian:
Over the past few days, IBAS has received several inquiries regarding education and licensing pathways for insurance brokers in Saskatchewan — specifically, with respect to Mr. Scheer’s time in the province’s insurance industry.
It is our understanding there has been a formal complaint issued to the General Insurance Council of Saskatchewan (GICS), which provides licensing and regulatory oversight to insurance brokers. Accordingly, with that file under review, it would be inappropriate for IBAS to comment at this time, and further questions on the matter should be directed to GICS officials.
IBAS can confirm, however, that Mr. Scheer did complete an accredited course with IBAS that would form part of the current eligibility requirements for licensing. The following is a summary of the insurance broker education and licensing framework in Saskatchewan:
- IBAS is an accredited education provider, while GICS oversees all licensing activities;
- The Canadian Accredited Insurance Broker (CAIB) program is a nationally recognized training curriculum comprised of four courses, or ‘modules,’ which, collectively, lead to a ‘CAIB’ designation;
- Individually, CAIB modules make up part — but not all — of Saskatchewan’s step-licensing requirements for insurance brokers;
- In Saskatchewan, the scope of work undertaken by each individual within an insurance brokerage is restricted to the level of licence held by that individual;
- An insurance broker cannot obtain an individual licence unless employed by a licensed insurance brokerage; and
- It is permitted for unlicensed individuals to perform certain, designated functions in an insurance brokerage, such as motor license issuing.
For a full overview of licensing requirements and permitted licensee activities, consult the GICS website at www.skcouncil.sk.ca.