Adjusting Firms, Agencies or Managing General Agents
The Office of the Superintendent of Insurance issues licences to agencies who have met the requirements of the Insurance Act and Rule INS-001 Insurance Intermediaries Licensing and Obligations, authorizing those individuals to carry on the business of an Adjusting Firm, Insurance Agency or Managing General Agent.
An Agency or Managing General Agent Licence may be issued to a corporation, a partnership or a sole proprietorship for accident and sickness, general, life or travel insurance. An Agency or a Managing General Agent authorized to carry on life insurance business may also carry-on accident and sickness insurance business in New Brunswick.
The Agency or Managing General Agent must have an agency contract with at least one insurance company that is licensed to carry-on business in New Brunswick.
The applicant must appoint a Designated Representative and have a legal name or business name registered with the New Brunswick Corporate Registry.
All applicants must meet the requirements listed on the Applying for Your Insurance Licence page.
If an Adjusting Firm Licence or Agency Licence lapses or is revoked or suspended, the licence of any adjuster or agent acting on its behalf will be automatically suspended. If a Managing General Agent Licence lapses or is revoked or suspended, the licence of any agent with the Managing General Agent listed on the licence will be automatically suspended.