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Natalie Said:

how to become a part time independent insurance broker in Ontario?

We Answered:

Insurance brokers in Ontario are licensed and regulated by the Registered Insurance Brokers Association of Ontario (RIBO). The first level of license is called the Entry Level (Acting Under Supervision) level. This level allows you to deal with the public with regards to general insurance other than accident & sickness insurance (including life insurance). If you wish to sell A&S and Life Insurance then you need a different license. In order to obtain an Entry Level license you need to pass a Entry Level or Equivalency examination. You do this by registering for a course. RIBO does not run the courses, but the Insurance Brokers Association of Ontario does. You can click the link below for more information about the course. Keep in mind you have to be employed with a brokerage in order for you to obtain the license. If you take the course but aren't employed at a brokerage then RIBO might let you take the course and give you a certificate of completion when you pass the exam, but they won't give you a license until you are employed as a broker. The only problem I see for you is I don't know any brokerages that are going to hire a part time broker. A brokerage would want someone working full time in order to be useful.
There are no educational requirements to become a broker, but you need to take 8 hours of continuing education courses per year in order to maintain your license. No professional experience/requirements are required either however you can obtain professional designations in insurance.

Martha Said:

Independent Insurance Broker - How to track expenses and gains?

We Answered:

You will need to pay income taxes as well as social security, so you'd best reserve rather a LOT more than 15.3% for taxes!! Not having any idea what kind of money you're talking about, it's probably safe to pay yourself HALF of net, until after you've filed a few quarters of tax returns.

Nancy Said:

Seeking an independent homeowners Insurance broker in Texas?

We Answered:

Find an independent agent in your area at this link -

http://www.iiaba.net/agentlocator/findag…

Or you can go the old fashioned way and look in the Yellow pages.

Claire Said:

Can anyone suggest a good independent insurance broker in Ontario?

We Answered:

Well you never said where in Ontario you live, or what you want to insure, however I use to work for the brokers below (in Toronto) and I would be still if I it wasn't for the fact I moved out to B.C. Give them a call and they'll be able to help you out regardless of what you're trying to insure.

Brandy Said:

Insurance: What is the difference between an Independent Agent and an Independent Broker?

We Answered:

Generally speaking an "agent" is an individual licensed by a state to represent an insurance company to the public. An independent agent means the agent is not "captive" or only contracted by one insurance company and may represent more than one company. A "broker" is an individual licensed by a state to represent the general public to insurance companies. They are usually contracted with several insurance companies and their job is to search the insurance market for the person they represent. The amount of commission paid to a broker or agent is usually very close to the same and has absolutely no bearing whatsoever on the premiums that a person pays for insurance. If an individual goes to the insurance company directly to purchase insurance the commission will either be kept by the company or paid out to the individual that assists you on the phone or in person when filling out an application. Some insurance companies will not allow "direct" applications and require the use of agents or brokers. Many states are doing away with the "broker" and "agent" terminology and simply calling anyone licensed to accept insurance applications "producers".