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How to get CAIB Designation?

Once brokers get licensed, a very common question I get asked is “how to get CAIB designation”. It’s a pretty commonly searched topic so I figured I would write a piece about it to sort of demystify the process.

WHAT IS A CAIB DESIGNATION?

It is a professional designation created by the Insurance Brokers Association of Canada (IBAC). It’s a nationally recognized designation that is basically a way to establish yourself as an insurance expert and build credibility within the industry and with clients.

In the process of attaining your designation, you will learn and become an expert in commercial lines, personal lines, and brokerage management.

HOW DO YOU GET A CAIB DESIGNATION?

To get your designation, you have to study for and pass 4 national exams: CAIB 1, 2, 3 & 4. Once you do that, you can reach out to your local insurance brokers association to get your official designation.

The CAIB 1 course covered general insurance with a focus on personal lines. The CAIB 2 course focuses on commercial property, CAIB 3 is commercial liability and CAIB 4 covers brokerage management.

Many provinces (ie. most provinces and territories except Alberta and Ontario) will also use these same exams to satisfy provincial licensing requirements.

They use CAIB 1 for the Level 1 license, #2 & #3 for Level 2 and #4 for Level 3.

If you’re licensed in those provinces then you’re in luck! By getting or upgrading your license, you will have already completed at least 2 of the 4 required courses.

ARE THERE ANY RESTRICTIONS?

Yes there are. You are only allowed to use the designation if you are a licensed property and casualty insurance broker (the designation does not apply to life insurance brokers). You’re also not able to use it if you are not employed at a brokerage that is part of the provincial or regional brokers’ association.

ANY QUESTIONS?

This is just a brief overview of the process and exact procedures for studying, exam registration, etc. will vary from province to province.

If you want more specific information regarding your home province, don’t hesitate to ask me.