An Alberta Insurance License is the legal permission to sell insurance in the province of Alberta. Licensed insurance agents can sell a variety of different types of insurance including auto, property, life and business.
How much is insurance license in Alberta?
Licence requirements vary by province, but most require prospective insurance agents to pass a provincial exam. Some provinces expect candidates to complete a training program before writing the provincial exam. In addition, some provinces have additional licensing requirements (e.g., a high school diploma or equivalent).
A licensed agent can work independently or with an established firm as a general broker. In some cases, a licence can be restricted to selling only a specific type of insurance, such as auto or property. The requirement to hold a licence is designed to protect consumers from unlicensed agents who may not have the necessary skills or knowledge to advise on a customer’s insurance needs.
Insurance is a regulated industry and as such, all licensed agents must adhere to strict ethical standards. If a consumer feels they have been mistreated by an agent, they can file a complaint with the provincial regulator. The provincial regulator can also tell consumers whether or not an agent, broker or adjuster is licensed to sell certain products in their jurisdiction.
Royal Alberta College is an approved Level 1 General Insurance Training course provider with the Insurance Council of Canada (ICBC). This course was developed based on the ICBC’s textbook “Alberta Level 1 General Insurance Broker/Agent Licensing”, First Edition 2021. The course materials were reviewed and approved by ICBC’s Curriculum Design Staff.