What is the difference between a professional title and a certificate?
- The certificate is issued by the Autorité des marchés financiers (AMF) and authorizes an individual to practise as either a broker, an agent or a claims adjuster.
- The professional title is proof that its holder has completed the training needed to acquire a specific set of competencies and qualifications.
Titles authorized by the ChAD
Different organizations in the damage insurance industry grant different professional titles (ancre vers encadré Other professional titles). The ChAD authorizes the following professional titles:
- Chartered Insurance Broker (C.I.B.)
- Associate Insurance Broker (A.I.B.)
Damage insurance brokers who wish to use these professional titles in Quebec must be authorized to do so by the ChAD, pursuant to section 318 of the Act respecting the distribution of financial products and services.
How to earn a title
To earn a ChAD-authorized title, you must first ensure that you meet the prerequisites listed above. Then, send your application to email@example.com along with the following documents:
- Your official transcript
- Your AMF licence number
Cost: $125 plus tax to review the file and issue the A.I.B. or C.I.B. diploma.
Description of titles
The rules pertaining to the use of a professional title
- Brokers cannot use a title unless they have received authorization to do so from the ChAD and been authorized by the AMF to act as a damage insurance broker.
- The professional title may not be used before earning the certificate, nor may it take the place of a certificate or grant the right to practise.
- The title of associate or chartered insurance broker does not allow the individual to perform tasks in another sector. For example, an individual holding personal lines insurance certification cannot act in commercial lines insurance or vice versa.
- Acts authorized by law are linked to the certificate’s sector, not to the professional title.
- Brokers keep their professional title as long as their certificate remains in good standing. If a broker changes sectors and becomes an agent, or if he is no longer certified, he may no longer use his professional title.
- The ChAD may undertake any action necessary to prevent the illegal use of a title.
How to display a professional title
The following information must appear on the representative’s personalized documents:
- his or her name, as it appears in the Authority register;
- the sector and class of sector for which the individual is authorized to pursue activities, pursuant to his or her certificate.
A representative who holds an Associate Insurance Broker or a Chartered Insurance Broker designation may place the abbreviation of his or her professional title immediately after his or her name.
Abbreviations are written as follows:
- Associate Insurance Broker: A.I.B.
- Chartered Insurance Broker: C.I.B.
Louise Roberts, A.I.B.
Damage Insurance Broker
XYZ Insurance Inc.
Other professional titles (designations) used in the industry:
The Insurance Institute of Canada (IIC) grants the designations:
- CIP (Chartered Insurance Professional)
- FCIP (Fellow Chartered Insurance Professional)
The Global Risk Management Institute Inc. grants the designation:
- Canadian Risk Management (CRM)