How to Get a General Insurance Level 1 License

If you want to work as an insurance broker in Ontario, you need to be licensed. A general insurance level 1 license is required if you are interested in selling property and casualty insurance, including auto insurance. You can apply for a licence with the Financial Services Regulatory Authority of Ontario (FSRA). URL

A general insurance level 1 licence is not hard to obtain, but you need to meet certain requirements. These include being sponsored by a licenced insurer, having a current RIBO designation and passing the other FSRA licensing exams. You must also complete the OTL Agent’s Exam.

Roadmap to Success: Achieving Your Level 1 General Insurance License

Once you’ve met all the requirements, you can start the process of getting your licence by asking your sponsoring insurer to set up a new application on your behalf through Licensing Link. Your sponsoring insurer will be asked to verify that you are suitable to hold a licence and disclose any details that may be important for the regulator to know. Depending on the arrangement, your sponsoring insurer may pay your application fee.

The New York state insurance licensing examinations are proctored, which means that they are taken in a classroom environment with someone – called a proctor – supervising the whole thing. During the exam, you’ll have to answer multiple-choice questions about topics related to insurance. The number of questions and the topics covered on each exam vary. There are no pass or fail marks on any of the exams, but you should be able to expect to spend 2 1/2 hours answering about 150 questions.

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