Damage Insurance Professionals
Damage insurance agents and brokers, as well as claims adjusters are all damage insurance professionals. They are certified by the Autorité des marchés financiers and overseen by the ChAD.
Titles that are Protected by Law
Individuals who are authorized to use these titles must hold a representative’s certificate issued by the Authority in damage insurance (in the sector class “agent” or “broker”) or a certificate in claims adjustment. In order to obtain this licence, representatives must pass the admission examinations; to keep their licence, they must take professional development courses and comply with the code of ethics.
Damage Insurance Representatives
Damage insurance contracts are complicated. Damage insurance representatives—in other words, damage insurance agents or brokers—ensure that the consumer’s insurance contract meets his or her needs.
Damage insurance representatives may practice in the field of:
- personal lines damage insurance,
- commercial lines damage insurance,
- or both.
| Damage Insurance Agents | Damage Insurance Brokers |
|---|---|
| A damage insurance agent works for an insurance company (an insurer). The agent identifies the product offered by his insurer that best meets the insured’s needs and recommends it to the insured. | A damage insurance broker works in a brokerage firm that offers a variety of damage insurance products from a number of insurers. He asks for a quote from his network of insurers and offers the insured the quote that best meets the insured’s needs. |
Claims Adjusters
When a loss occurs, the insurer designates a claims adjuster to guide the insured through the process of making a claim. This professional will investigate the facts and circumstances of the loss, estimate the damages and negotiate the settlement of the claim in accordance with the terms of the insurance contract.
Claims adjusters may practice in the field of:
- personal losses;
- commercial losses;
- or both.
Claims adjusters may also be mandated to act by the insured.
Consult the Members’ Register
To find out whether your damage insurance agent or broker, or your claims adjuster is a member in good standing of the ChAD or to confirm the validity of your representative’s certificate, consult the Register of firms and individuals authorized to practise by going to the website of the Autorité des marchés financiers.
Professionals certified by the Autorité and overseen by the ChAD : more than words
Code of Ethics
As is the case for members of all professional orders, damage insurance agents and brokers, as well as claims adjusters are governed by a code of ethics. If they do not fulfill their duties and obligations to the public, they may lose their right to practise.
The Syndic’s office
Anyone who is concerned about the behaviour or the quality of services of a damage insurance agent, a damage insurance broker, or a claims adjuster may file a complaint with the Syndic’s office. Depending on the circumstances, the syndic may file a formal complaint before the ChAD’s Discipline committee or take any other measure he believes appropriate.
Access to the the Fonds d’indemnisation of the Autorité des marchés financiers
A consumer whom has dealt with a representative who was duly certified by the Authority may have access to the Fonds d’indemnisation for compensation in the event of fraud (maximum compensation is $200,000 per claim).
Checking a Disciplinary Record
If you wish to verify whether a damage insurance agent or broker, or a claims adjuster has ever been subject to disciplinary sanctions, you may request information on his disciplinary file by contacting the secretary of the Discipline committee of the ChAD.
Their obligations
To work as a damage insurance professional, one must:
- satisfy the minimum qualifications
- pass the examinations required by the Autorité des marchés financiers
- pass the probationary period (6 or 12 week internship)
- obtain the certificate issued by the Autorité des marchés financiers
Only after having successfully completed these steps does an individual become a member of the Chambre de l’assurance de dommages and receive authorization to act as an agent, broker or claims adjuster. In order to keep their certificate, individuals must fulfill two main obligations:
Keep Their Skills Up to Date
In order to keep their professional skills up to date, and indeed improve them, all damage insurance agents and brokers, and claims adjusters must take a minimum of 20 hours of training every two years, barring which their certificate will be suspended. This measure is designed to ensure that ChAD members’ skills always remain up to date.
Respecting a Code of Ethics
As is the case for members of all professional orders, damage insurance agents and brokers, as well as claims adjusters are governed by a code of ethics. If they do not fulfill their duties and obligations to the public, they may lose their right to practise.
Interested in a career in damage insurance?
Damage insurance is a challenging and diversified field, where you can find employment opportunities that are tailor-made to your needs and interests, with many advantages.