An insurance agent is involved in the placement (selling) of insurance contracts. To be an insurance agent in Nova Scotia, you must be licensed. Licenses are issued in the following classes of insurance:
- Life (including Accident and Sickness)
- Accident and Sickness only
- General (other-than-life)
- Travel, Accident and Baggage
Requirements
Before submitting an application for insurance agent license, be sure you meet the following requirements:
| Class | Requirements |
| Life Insurance Agents | Must successfully complete the Life Licensing Qualification Program (LLQP) and pass the provincial licensing exam. LLQP Course Providers (pdf) Read about changes in 2003 to the Life Licensing Program (pdf). |
| Accident and Sickness Only Agents | Must successfully complete the Life Licensing Qualification Program (LLQP) and pass the provincial licensing exam. LLQP Course Providers (pdf) Read about changes in 2003 to the Life Licensing Program (pdf). |
| General Insurance Agents | General Insurance Agents are subject to a three level licensing regime as per amendments to the Insurance Agents License Regulations instated January 1, 2007. To become a General Insurance Agent you must pass the following, or have equivalent experience acceptable to the Superintendent of Insurance: Level 1 – Successfully complete one of the following: - Fundamentals of Insurance (Provincial Exam).
- Parts I and II of the General Insurance Essentials
- Part I of the CAIB Program (See IBANS or ITAC)
- CIP Program Courses C11 and C130.
Level II – Successfully complete one of the following: Level III – Successfully complete one of the following: |
| Travel, Accident and Baggage | Travel Insurance Agents must follow application procedures. There is no pre-licensing requirement. |
Provincial Exams
Life, Accident and Sickness and General provincial insurance exams are conducted the first and third Fridays of each month in the Halifax area. (For information on parking, see Map of Meter Parking in HRM (pdf).
To register, download and complete the Insurance Exam Registration Form (pdf) from the Insurance Forms page. This form includes all information on location, times and fee payment.
Exams written in Halifax are marked the day they are written. By 4:30 pm on exam day, exam results are published on the Exam Results page. Exam pass marks are: General Insurance - 75%: Life, Accident and Sickness - 60%.
To write the provincial General insurance exam (only) in any of the Access Nova Scotia offices outside the Halifax/Dartmouth area, please submit a completed exam registration form to the Office of the Superintendent of Insurance. The Office will contact you to arrange an exam date and time.
Application Forms and Process
Download the Individual Insurance Licence Application (pdf) from the Insurance Forms page,
OR
drop into any of the Access NS offices outside the Halifax/Dartmouth area.
- Complete the application form and have it endorsed by an insurance company that is licensed to operate in Nova Scotia.
- Return the completed application form to the Department of Finance, Financial Institutions Division (address below) with the licensing fee of $347.71.
Nova Scotia Department of Finance
Financial Institutions Division
Office of the Superintendent of Insurance
PO Box 1529
Halifax, NS B3J 2Y4
- If you are a non-resident agent, you must provide the Certificate of Authority issued from the jurisdiction where you reside.
The Nova Scotia Permits Directory also provides information on insurance agent licensing.
Grand-fathering Provisions for Existing General Insurance Agents
Any individual licensed as a general insurance agent prior to December 31, 2006 will be deemed licensed as:
- Level I general insurance agent if licensed for less than two years;
- Level II general insurance agent if licensed for more than two years and less than four years;
- Level III general insurance agent if licensed for more than four years.
Trust Accounts
General insurance agencies, and independent general insurance agents are required to maintain a trust account to hold insurance premium deposits. A Trust Account Reconciliation Worksheet (pdf) must be filed annually within 120 days of the fiscal year end.
See Insurance Agents Licensing Regulations.