Special Insurance Broker
The Office of the Superintendent of Insurance issues licences to individuals who have met the requirements of the Insurance Act and the Rule INS-001 Insurance Intermediaries Licensing and Obligations, authorizing those individuals to carry on the business of a Special Insurance Broker.
A Special Insurance Broker licence may be issued to residents and non-residents who wish to negotiate, continue, or renew contracts of all classes of insurance, other than life insurance, accident insurance, sickness insurance, or automobile insurance in New Brunswick with insurers who are not licensed to do such business in the province.
All applicants must meet the requirements listed on the Applying for Your Insurance Licence page.
After the licence has been approved and issued, every Special Insurance Broker must submit, within 10 days after the end of each month, a return form, under oath, that contains the particulars of all insurance effected by him/her under this licence. The form is provided to the Special Insurance Broker by the Office of the Superintendent of Insurance.
The licensee must pay to the province such taxes on all premiums effected as would be payable if such premiums had been received by a licensed insurer. Payment must accompany the monthly return of all business effected (see above).
For more information see sections 354-357 of the Insurance Act.