5 answers

Do I need a license to work in the Insurance field?

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I am currently in my second-year of post-secondary in the insurance field. However, I am not too sure if I need some sort of license after I graduate or if a bachelor's degree is good enough. In addition, if I do need a license, can I just do the license while I am still in school? Or do I have to wait until I graduate? If I do need a license, which ones do I need since I know there are many types?
Thanks!
#insurance #underwriting #broker #claims #riskmanagement #canada #july20

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5 answers

James’s Answer

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Hello Jenny,

Underwriting - you don’t need a license so no additional license or education would be required (however, continuing education specific to insurance is advisable).

For Canada and Alberta, you will need to be licensed to interact with customers directly. This means that brokers and adjusters who advise and settle claims with customers are required to have licenses regardless of the post-secondary education.

The type of license depends on the role you are entering. The Alberta Insurance Council governs the licenses and administers the exams (probably not what you want to hear after graduating). These can be done in one session and depending on your knowledge, luck, etc you could have the entry license completed within a few weeks.

*most employers are understanding of this need to be licensed and will provide a 3 to 6 month window in order to complete the preliminary exam. There is a second exam which is permanent and doesn’t expire unless you allow it or don’t get education credits in a given year. All licensees are required to complete specific credit hours annually (eg 15 hours Alberta).

Hope this helps.

James recommends the following next steps:

  • Review AIC website
  • Ask myself or anyone else in the field if you have additional questions
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Lisa’s Answer

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I handle workers' compensation insurance in the US. I am required to be licensed in certain states, but not all.
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Lisa’s Answer

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I handle workers' compensation insurance in the US. I am required to be licensed in certain states, but not all.
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Christine’s Answer

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Hi Jenny,

Whether or not you need an Adjuster's License depends on where you are. In the US, only certain states require a license. For example, I do claims for Massachusetts, New Hampshire, Maine and Rhode Island. Massachusetts and Maine do not require an Adjuster's License but New Hampshire and Rhode Island do. You can apply for an Adjuster's License any time and you can usually get it and print it on line. I did not go to college but I earned a Senior Claims Law Associate degree through my job and the Insurance Institutes of America. I have been at my company for 24 years now. Start with some research into your local requirements for a Claim Adjuster's license. Good luck.
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Keith’s Answer

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Short answer. Yes. Insurance and any kind will require you to be licensed.

Longer answer. Depending on type of insurance path you are hoping to travel, the license requirement for the career you ultimately choose will determine how much education and industry knowledge you will be required to obtain.
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